Is your accounts payable process straightforward? There are many tools out there that can help streamline the billing and collection process, such as Bill.com. Using technology for your accounts payable process can help reduce payment delays and the amount of time your team is spending on managing the process.
Not only do these solutions have the ability to streamline payments, they are accessible on mobile devices. Many people rely on mobile devices to effectively run their business, including using their personal phone or tablet for daily communications with employees, vendors and other-third party service providers. As part of its efficient and streamlined bill-pay process, Bill.com offers a mobile bill management service that allows for enhanced security and easier customer usability. Here are four ways a mobile bill-pay solution can benefit your business and give you peace of mind:
1. Increased control
As standard AP processes require a physical paper trail, you may be familiar with the frustrating process of voiding and reissuing paper checks or sifting through seemingly endless paper piles. The simplicity and control of digital business payment options allows you and your staff to quickly approve bills with a single click or have the ability to ask necessary follow-up questions. With Bill.com’s convenient interface, you can access all of your AP information in one secure, easy-to-navigate location, and no physical paper trail is required.
2. Improved security
A great perk of mobile bill management is the added protection. Aside from eliminating paper checks and other confidential paper documents, Bill.com protects you from fraudulent activity at the transaction level. Bill.com uses data encryption and automated Positive Pay to protect sensitive information, including bank account and routing numbers. And with the Vendor Direct virtual card program, payments are faster and more secure than with checks. Bill.com also keeps time-stamped audit trails of your transaction history, showing who did what and when, in the event that an investigation is required.
3. Faster payments
While outsourcing your bill management accelerates your business’ payment process, Bill.com’s intelligent platform enhances efficiency even more. The Bill.com automation process quickly facilitates payments by digitally routing bills through approval workflows and sending reminders to approvers. Combined with a clean, intuitive mobile interface, you can spend less time chasing approvers or searching for invoices and more time focusing on growing your business.
4. Pay bills on the go
Bill.com allows you to pay bills from any location, just like you can pay a credit card bill, send an email or order supplies. If you’re out of the office and you receive an important invoice that needs to be paid as soon as possible, you do not have to delay a bill-pay approval until you’re back at your desk. With Bill.com, you can review and approve the bill immediately. Here’s how it works:
- Receive a push notification that says a bill is ready for review.
- Open the app to view the bill as well as other pending transactions in your inbox.
- Swipe the bill to approve immediately or tap the bill to see the payment history and review documents.
- Click “approve.” The system will send the bill to the next reviewer or to be paid.
Outsourcing your accounting processes saves you time and energy, reduces the risk of fraud and error, and incorporates more flexibility into your bill management process. Janover’s Outsourced Accounting Solutions leverages Bill.com to streamline our clients’ bill-pay processes. Would you like to learn how Bill.com can simplify your AP process? Contact us today to speak with an Outsourced Accounting Solutions professional.