This capability comes from a new strategic partnership. Acumatica now embeds BILL’s AP automation into its Cloud ERP, the companies said in a Wednesday (Oct. 22) press release.
With this embedded solution, businesses can manage bills, streamline payments and optimize cash flow by choosing how and when to pay, according to the release.
“AP automation is vital to growing businesses, and we’re thrilled to partner with BILL, a trusted innovator in financial operations, to deliver this capability,” Acumatica CEO John Case said in the release. “Together, we’re giving businesses an easier path to modernize their operations. We help them improve accuracy and free up valuable time for more strategic work.”
BILL’s AP capabilities and network of more than 8 million businesses enable U.S. customers to connect with vendors. They can also make payments, per the release.
“Embedded finance is expanding how businesses experience the future of financial operations,” BILL CEO and Founder René Lacerte said in the release. “This partnership drives further momentum in our embedded strategy, bringing BILL’s powerful AP automation and payments capabilities directly into Acumatica’s ERP platform and empowering thousands more businesses to thrive.”
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Lacerte said in February that more than 480,000 businesses use BILL’s solutions to manage their day-to-day financial workflow. The company is also working to become “the de facto intelligent financial operations platform” for small and medium-sized businesses.
On Oct. 7, Oracle NetSuite announced that it embedded BILL-powered payment automation capability in its accounts payable offering, NetSuite Intelligent Payment Automation.
The company said this combination will enable U.S. customers using NetSuite Intelligent Payment Automation to accelerate their AP processes, increase efficiency and reduce risk.
Acumatica announced in May that it was set to be acquired by Vista Equity Partners.
“Vista’s investment can help power our AI-first product strategy and further strengthen our thriving Community of partners, developers and customers, working together to find better ways to work and redefine business management software for everyone,” Case said at the time in a press release.
