Reap the benefits of digital business payments

Reap the benefits of digital business payments

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By now, you’ve probably heard plenty about how switching to digital business payments, AP automation, and AR automation can fundamentally improve your business practices. From saving time and boosting efficiency to cutting costs and gaining insights into your cash flows, they can transform your operations and streamline your workflows from start to finish.

Does this sound too good to be true? It’s not.

More than six million BILL network members enjoy the real-life benefits that digital business payments offer. The following are just a few BILL customer stories.

Cutting AP time by 75 percent

Like many businesses, Georgetown Visitation, the oldest Catholic girls’ school on the East Coast, used to devote countless hours to manually handling its AP tasks. With about 250 bills to pay each month, those manual processes proved to be both inefficient and time-consuming. Employees would sift through stacks of files to find answers to important questions.

As Roberta Hopkins, Georgetown Visitation’s CFO put it, “It was just torture.”

After switching to BILL, the school reduced its time spent on AP issues by a staggering 75 percent. Georgetown Visitation saves even more time by utilizing the BILL mobile app, which allows employees to pay and approve bills on the go from any iOS or Android device.

Honest Paws, a healthcare company that connects therapists and patients in need of support animals and provides pet care products, has similarly benefitted from spending significantly less time on processing payments. Even though Honest Paws had already adopted electronic payments, with its previous provider staff members were still spending 20 hours a week on processing those payments. Switching to BILL with its intuitive user interface, seamless integrations, and better workflows allowed Honest Paws to cut that 20 hours spent on AP down to just two hours per week.

Scaling to support growing businesses

Keeping costs low is essential to the success of any startup, particularly during the initial growth stages. Emerge Diagnostics, a startup that sells diagnostic instruments as a service to workers’ compensation organizations, knows that all too well.

The company made the switch to BILL in 2016, just as it was quintupling in size in the matter of a few months. As a result of its growth, the number of invoices skyrocketed. But with BILL on their side, AP staff didn’t have to grow exponentially as business did. They were still able to handle all their bill processing with one part-time AP clerk, thanks to easy, streamlined workflows provided by BILL.

BILL has also helped put Emerge Diagnostics’ auditors at ease. The auditors didn’t want to see the same person entering, approving, and paying invoices. Because BILL is simple to use, those tasks can be spread out among team members without adding significant time to anyone’s day. In her spare time, the AP clerk has been able to analyze the company’s bills more thoroughly, avoiding at least $35,000 per year in bill overpayments.

Creating insight into cash flows

There’s no better way to understand your company’s financial health than to have transparency into your cash flow. Before switching to BILL, Lindsay Leasing was struggling to do just that.

The property management company was juggling AP and AR for 50 different properties, taking in rent from tenants while paying out fees and vendor invoices. Managing cash flow is a crucial part of Lindsay Leasing’s business because collections and payments all need to happen on time. Previous property management software platforms it tried lacked the flexibility and scalability it needed to grow the business.

Switching to BILL was the solution to the AP and AR problems because it allows for a fluid flow of cash throughout the property management process. The company automatically drafts rent from tenants’ banking accounts and can review, authorize, and schedule/send bill payments via BILL. The transparency, speed, and collaboration give Lindsay Leasing visibility and stability with cash flow, positioning the firm for continued growth in the future.

Right-sizing staff

As business grows, many companies struggle to find the money to hire new staff to handle the increased AP and AR needs that come with more work. As Theatron, installers of state-of-the-art home automation and entertainment systems, continued to expand, its owner felt increasingly trapped by the time-consuming paperwork of processing invoices and bills.

Rather than adding staff to wrestle with paper, Theatron looked for a digital solution. It needed one that would function with QuickBooks Online, which was integral to the company’s operations. BILL provideupdated title d the ideal technology since it seamlessly integrates with QuickBooks Online. Now Theatron has a simple way of managing its finances anytime, anywhere, without having to hire additional staff as the company continues to grow.

Improved compliance

With business comes regulation. QS Energy, creator of high-tech electric fields that make oil transportation safer and more efficient, is intimately familiar with the costs of compliance.

As QS Energy grew, the company’s management team was struggling with the amount of time required to prepare for Sarbanes-Oxley 404 compliance. The company decided to simultaneously switch to BILL and make a move to the cloud as part of a larger compliance initiative. In the process, QS Energy was able to streamline its operating procedures and cut its operating costs by $250,000 each year. BILL also helped the company better implement its internal policies and procedures, leading to better overall compliance.

BILL knows the struggles companies face and is designed to help alleviate them. Countless businesses have reaped the benefits of digital business payments, AP automation, and AR automation from BILL. Your business can be next.

Sign up for a risk-free trial today and find out how BILL can help you transform your business.

The information provided on this page does not, and is not intended to constitute legal or financial advice and is for general informational purposes only. The content is provided "as-is"; no representations are made that the content is error free.