BILL

BILL is an amazing financial automation software that helps small and midsize businesses (SMBs) automate their financial workflows. Its goal is to make finance simpler and more efficient for businesses. With BILL, you can manage your payables, receivables, spend and expense management all in one place. It also connects you to a network of millions of members for faster payments, so you can confidently manage your business and succeed on your own terms. BILL is highly recommended for managing accounts payable, with convenient dashboards and great reporting features. It’s also super easy to use for paying company bills. The software enhances paperless systems and connects businesses, accountants, and banks, ensuring that no business is left behind.

Advantages of BILL

  • User-friendly interface and simple design
  • Real-time access to financial data from any internet-connected device
  • Bank-level security, firewalls, and encryption to protect sensitive data
  • Redundant server backups and FDIC insurance for funds paid through Bill.com
  • Customizable access levels for different roles in the company
  • Audit trail to track changes to bills and invoices, supporting documentation, approvals, and payments
  • Syncs with popular accounting programs such as QuickBooks, Xero, and NetSuite
  • Three ways to send bills: fax, email, and direct upload
  • Dedicated fax number and email address for vendors to send invoices directly to Bill.com
  • Ability to organize invoices by due date, view payment history, and run reports in Excel

Disadvantages of BILL

  • Bill.com’s customer service has limitations and is not available 24/7, which may disappoint those accustomed to traditional customer service methods like phone calls.
  • Reporting options could be improved, as there are currently limitations such as the inability to separate bills paid by bank account.
  • More customization for invoice templates and 2-way sync with accounting systems for customer information could be added to the platform.
  • There are some quirks to the system, such as the inability to pay or remove $0.00 bills from the “Bills to Pay” docket but still allowing them to be created.
  • Bill.com sends unnecessary reminders, even when there is nothing for the user to do, causing confusion and the need for additional reminders from the user’s end when approvals are delayed.