SMEs get e-billing enhancements

Small business billing and invoicing specialist Bill.com last week unveiled new product enhancements to its service that will enable seamless money transfer between payers and payees and eliminate paper-based financial systems, says Small Business Computing.com.

“To date, e-billing and e-invoicing solutions have been complex and available only to Fortune 2000 companies,” said Rene Lacerte, founder and CEO of Bill.com.

With Bill.com's new e-bill functionality, when both payer and payee are utilising the Bill.com platform, sending electronic invoices and making online payments is a snap, reports The Wall Street Journal.

e-Invoices can be generated by the issuing party using Bill.com or their preferred accounting software, and they instantly convert into e-bills - along with any supporting data or attachments required - in the payer's system, ready for review, acceptance, approvals and payment.

Once the e-payment is issued, it is automatically applied to the payee's e-invoice and to the payer's e-bill with no manual work required. Even better, the entire process syncs with leading accounting packages such as QuickBooks, Peachtree, Netsuite and Intacct, even if the payer and payee are on different systems, ensuring all transactions are properly documented while eliminating tedious data entry entirely for both parties.

Bill.com is also introducing a number of User Interface updates to enhance the overall look and feel to make it even easier to use.