Streamlining the Bill Management and Payment Process Bill.com - - PowerPoint PPT Presentation

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streamlining the bill management and payment process
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Streamlining the Bill Management and Payment Process Bill.com - - PowerPoint PPT Presentation

Dec 25, 2023 924 likes •1.2k views

Streamlining the Bill Management and Payment Process Bill.com Confidential The Challenge of Bill Payment Paper intensive Bills pile up at internally or with clients Sent via mail or picked up No easy way to provide vendors

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Bill.com Confidential

Streamlining the Bill Management and Payment Process

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The Challenge of Bill Payment

  • Paper intensive

– Bills pile up at internally or with clients – Sent via mail or picked up – No easy way to provide vendors electronic deliver

  • Repetitive data entry

– Accounting system – Electronic filing system (if scanned) – Online banking system (if used)

  • Manual processes and controls

– Handling mail – Handling check stock – Paper-based files – Printing, mailing, emailing checks

  • Time and cost of check printing, signing,

and mailing

  • Risk of providing systems access to non-

financial people

  • Risk of fraud and lack of disaster recovery

Lost Time Lost Money Lost Opportunity

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SLIDE 3
  • Made accounting easier for the

masses

  • But…

– Complicated banking interface – No workflow or controls – Not multi-user – Not accessible from anywhere (unless using hosted QB or QuickBooks Online which has fewer features)

  • Financial experts still print, sign, and

mail checks

SMB Accounting Systems Do Not Solve The Challenge

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  • Today, 70% of consumer bill

payments are done online but 70% of business payments are still by check!

(Fiserv Study)

  • Online banking works the way

consumers work, not businesses

  • Payment portals and networks force

payers to duplicate processes and data entry

  • Business bill payment is different from

consumer bill payment…

– Higher volume – Document-centric – Collaborative – Complicated (accounting and controls)

Online Banking / Payment Portals / Networks

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SLIDE 5

Supports the “real world” process Easy to use (for non-financial experts) Synchronizes with accounting system

What if Business Bill Payment Was Re-Invented the Way SMBs Actually Work?

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Inexpensive No long-term commitment Available anytime, anywhere

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Product Demo

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SLIDE 7
  • Dedicated email address

and fax number

  • To Do list
  • Calendar View

(with Book Balance)

Bill Management and Cash Flow

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SLIDE 8
  • All are placed in your

Inbox

  • Mouse over the

document image to preview the document

  • Select the action to

process the document and/or file it in your

  • nline filing cabinet

Processing Documents in Inbox

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Entering a Bill

  • Select the Vendor
  • Bill.com’s SmartEntry

feature pre-populates bill details

  • Enter the invoice number

and amount

  • Split the bill to different

GL accounts if necessary

  • Bills are automatically

routed to the first approver if approval workflow is selected

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SLIDE 10

Review and Approve a Bill

  • Review the bill image, bill

details and notes to approve the bill

  • Enter notes or any changes

when approving

  • Direct access from email

notification to your Bill.com account to review the bill

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SLIDE 11

Pay Anyone Online (via ePayment or Check)

Better ePayments (ACH) than a bank Over 4000 Top Billers Any other SMB (No fees, No limits) Individuals / Employees Works with any bank equally well Better check payments No printing, signing, and mailing FREE fraud protection Automatic cleared check upload

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Payment Process

1 1 2 2 3 3

Allows you to pay anyone electronically including small vendors and employees! Allows you to pay from multiple banks Enables positive-pay fraud protection Enables upload of remittance data and cleared checks

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Bill.com Payment Network

Easy ePayments for Payers and Vendors

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Payer Payer

Vendor Gets FREE Receivables Site

  • Securely enter bank information
  • FREE ePayments (no merchant fees!)
  • No trips to the bank
  • Notifications when payment on its

way

  • Notifications when funds are settled

Invite Link Pay

Payer Payer Payer Payer Payer Payer

Link Pay

Efficiency, cost savings, and process integration for Payer and Vendor Better security than sharing payment information

  • ver email/phone (“LinkedIn” for Payments)
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Payment Remittance

  • Check Payments

– The check shows the invoice to be paid and the account number – The bottom 2/3rd of the check voucher shows a copy of the invoice – Cleared check images automatically uploaded for you

  • ePayments

– Vendor receives email on process date indicating payment – Vendor receives email when money in bank account and available for access – Payment detail page shows you status

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End-To-End Transaction View

  • The bill payment

information shows the check number, check date and check cleared date

  • Cleared check image is

uploaded and associated with the bill and the payment transaction

  • Contracts and other

documents are easily accessible

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Have Visibility Using Audit Trail

  • The audit trail feature

provides you with detailed information on “who” did “what” “when”

  • Demonstrates clear

separation of duties in each transaction

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Intacct/QuickBooks Synchronization

  • Eliminates duplicate entry
  • Maintains consistency
  • Enables sophisticated

expense and cash management

  • Does not impact other

accounting activities

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One-Click Document Retrieval

  • Document retrieval at your

fingertips

  • Retrieve bill images and

transaction details stored in Bill.com from your accounting package

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Sample Customer Testimonials

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Value Proposition

  • Easy and Efficient

– Document sharing – Data entry – Workflow

  • Accessible anytime,

anywhere

  • Better payments

– Pay anyone electronically (happy vendors) – Check fraud protection – Multiple bank accounts, one process

  • No duplicate data entry
  • Consistent across banks

and clients

  • Safe and Secure

– SAS70 TYPE II Certified – Secure replicated data centers – Disaster recovery (with no effort) – Document DVD available

  • Cost Effective

– Monthly subscription – Working in minutes

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Bill.com for Accounting/Bookkeeping Firms Bill.com for Accounting/Bookkeeping Firms Online Client Bill Payment Online Client Bill Payment

Clients get a simple way to submit bills and collaborate with your firm Firms deliver profitable services and eliminate manual, paper-based processes

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Accountant Console

  • All users in the console

have unlimited access in client accounts

  • Custom Branding
  • List of all client To Do’s
  • Central or Direct Billing

Options

  • Client Organization

Creation

  • Premium content from

CPA2Biz

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Sample Accountant Testimonials

One of several top 50 firms using Bill.com One of several top 50 firms using Bill.com

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  • Founded by René Lacerte in 2006

– Co-Founder and CEO of Paycycle, America’s #1 SaaS Payroll Service (recently acquired by Intuit)

  • Market Launch June 2008
  • Leadership team: Salesforce.com,

Accenture, Intuit, and Ariba

  • Backed by top-tier investors with
  • ver $2B under management
  • Strategic alliance with CPA2Biz, a

subsidiary of the American Institute

  • f CPAs (AICPA)

Mission: The Simplest Way for SMBs to Manage their Financial Operations

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Investors Awards

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To Learn More and Register:

www.bill.com

Contact us at: (877) 345-BILL (877) 345-2455 option 3

Thank You!

Try it RISK FREE for 30 days so you can experience the benefits

  • f Bill.com...
  • Over 50% savings in A/P
  • Reduced check, paper and mailing

costs

  • A paperless office
  • Remote/anywhere access to your

day-to-day finances

Check www.bill.com/pricing/ for current pricing