BILL Delivers Innovation to Transform Payments Experience Between Enterprise Suppliers and SMBs Across Its Growing Network
Powerful new offering makes it easier and faster for large suppliers to receive and record payments from SMBs
BILL (NYSE:BILL), a leading financial operations platform for small and midsize businesses (SMBs), today announced the launch of BILL Supplier Payments Plus. This innovative new offering helps large suppliers quickly and efficiently process and reconcile high volumes of payments from thousands of SMBs with greater speed, accuracy and ease–while delivering a more seamless payment experience for the businesses they work with.
"BILL's SMB customers know their suppliers are critical to their success, which is why we're investing in powerful new capabilities that deliver value for both sides of the transaction—transforming how buyers pay and how suppliers receive funds. Supplier Payments Plus is the next major milestone in this journey," said Mary Kay Bowman, EVP, GM of Payments and Financial Services at BILL. "This innovation not only drives more value for large suppliers – it also marks a key step forward in advancing our vision of a more connected, intelligent and robust payments ecosystem, enabling BILL's growing network of more than seven million members to connect and do business quickly and efficiently."
Innovations That Help Suppliers Process SMB Payments Efficiently
Enterprise suppliers receive thousands of payments from SMBs each day, and processing them can be complex and time-consuming. Missing details and over or underpayments often force cash application teams to spend hours or even days manually tracking down information. Fragmented data across multiple portals only adds to the challenge, delaying cash application and consuming valuable time and resources. At the same time, many existing systems are outdated, slow to implement and still leave critical gaps in payment and remittance workflows.
BILL is tackling these persistent challenges head-on with new innovations that reduce manual work, simplify payments and strengthen the relationships that power B2B commerce. Supplier Payments Plus supports large and enterprise businesses in our BILL network by delivering payments and customizable remittance advice – streamlining AR workflows and helping with cash application automation for high-volume, small-dollar payments with missing or messy remittance. The solution works with existing Enterprise Resource Planning (ERP) and automation systems, enabling suppliers to go live in weeks without IT support. Suppliers can also benefit from new capabilities including custom reports and the conversion of checks to digital payments.
For the SMBs that work with these large suppliers, BILL is enabling faster payment confirmation, reduced overhead to help track down payments, and a more seamless way to transact and do business.
Key benefits include:
- Increased Efficiency: Reduces manual work, streamlines payment processing and lowers costs—freeing up finance teams to focus on high-impact initiatives that drive business growth.
- Seamless AR Automation: Delivers daily, customizable remittance files, supporting seamless integration with existing or future AR systems.
- Faster Digital Payments: Converts paper checks to electronic payments, accelerating cash flow for suppliers and giving SMBs a simpler, faster way to pay.
For more information, visit www.bill.com/solutions/suppliers.
About BILL
BILL (NYSE:BILL) is a leading financial operations platform for small and midsize businesses (SMBs). As a champion of SMBs, we are automating the future of finance so businesses can thrive. Our integrated platform helps businesses to more efficiently control their payables, receivables and spend and expense management. Hundreds of thousands of businesses rely on BILL's proprietary member network of millions to pay or get paid faster. Headquartered in San Jose, California, BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and accounting software providers. For more information, visit bill.com.
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