What do digital business payments, a Sage Intacct integration, and AP automation have in common? Relief for mid-market back offices.
Mid-market companies most commonly cite two challenges: time and resources. There’s often too much to do and too few people to accomplish it. For quickly growing businesses, each moment spent on inefficient workflows or struggling with clunky processes stifles their ability to scale and find success.
AP for most organizations is outdated.
Innovations such as digital business payments, AP automation, and a Sage Intacct integration with Bill.com take over traditionally manual tasks such as data entry and approving bills, minimize the time spent on them, and improve overall output. For example, the Bill.com Intelligent Business Payments Platform reduces time spent on AP by 50% while digitizing, mobilizing, and tracking the entire process - allowing companies to bypass time-consuming and problematic paper payments and gain streamlined and efficient back offices.
The path to gaining valuable time and efficiency is straightforward. Start by watching the Bill.com webinar titled “Digital Business Payments 101 for Sage Intacct Customers.” The webinar covers:
- An overview of digital business payments such as ACH transfers, international payments, and virtual cards, and how they differ from consumer payments.
- Common paper-based pain points like manual data entry, human error, and messy audit trails and how they affect your business.
- What you should look for in an end-to-end digital business payment solution.
- An overview of Bill.com, how it solves for common AP/AR pain points, and a demonstration of the Sage Intacct integration.
The Problems with Paper Payments
Paper checks, long a stalwart in B2B payments, demand an excess of labor. For each paper check, staff members must run a bill through an approval process, print the check, get it signed, stuff it into an envelope, and drop it in the mail – all the while fielding vendor calls for status, trying to avoid late fees, and then manually reconciling the payment. One company estimates that it costs $22 to process a single paper check payment. When you extrapolate that across every paper check payment your company makes, it adds up. For example, if you’re paying 500 bills a month with paper checks, that costs skyrockets to more than $130,000 a year – just to process AP. That doesn’t include supplies or bank fees.
However, moving to digital business payments and AP automation remove paper obstacles - especially when you add a Sage Intacct integration.
The Intelligent Business Payments Platform
Advances in payment technologies like digital business payments, AP automation, and integrations with accounting software like Sage Intacct let businesses significantly reduce the time spent on AP. In fact, Bill.com customers say the time saved on AP adds up to an average of 36 business days per year.
The Bill.com Intelligent Business Payments Platform saves you time with:
- Digital business payments, including ACH transfers, EFTs, virtual cards, and cross-border payments. Digital business payments are much faster – often less than two days to receipt – and cost a fraction of paper checks. For example, one ACH transfer costs 50 cents, regardless of the amount sent.
- AP automation, which enforces the proper approval workflow for each bill. Bill.com evaluates a bill against the company’s guidelines, identifies the workflow, and automatically runs each bill by the correct reviewers. Bill.com also creates an audit-ready trail so you can easily see each review cycle in entirety.
The Benefits of Sage Intacct Integration with Bill.com
One of the most vital components of the Bill.com Intelligent Business Payments Platform for mid-market businesses is its Sage Intacct Integration.
With Active Sync, Bill.com and Sage Intacct work as one. One-way sync automates and coordinates bills and invoices between the two systems, while two-way sync automatically integrates information from vendors and clients into both systems simultaneously. As a result, your company is empowered to create the AP and AR workflows that best suit it.
The Bill.com webinar, Digital Business Payments 101 for Sage Intacct Customers, demonstrates AP workflow automation, automatic approvals, payments, reconcilation, and the Sage Intacct platform integration. It also covers the workflow for AR automation, including creating invoices, sending them, and how the payee portal works.
Viewers also discover countless benefits that make digital business payments efficient and straightforward, such as the Bill.com mobile app which lets you manage your business on the go. Plus, the Bill.com extensive vendor network allows you to connect automatically with more than 3 million members, and our seamless processes take the complexity and expense out of international payments.
Ready to introduce these benefits to your company? Watch our webinar now to learn more about how Bill.com and Sage Intacct work together to create the ideal end-to-end digital business payment solution.