Small businesses can now bridge the gap between paying their bills and their accounting processes. In an announcement made yesterday (Aug. 31), small business billing service Bill.com and small business accounting software provider Xero revealed they are teaming up to connect their two services.
“Small businesses using Xero can now enjoy a more seamless and fluid way to manage their payments,” said Bill.com Founder and CEO René Lacerte. “Our partnership with Xero enables businesses to manage their accounting and payment processes with ease and efficiency.”
SMEs using the two services will be able to integrate their accounts from each company into each other, giving greater visibility into overall cash flow while paying bills.
The collaboration, the companies said, means less manual data entry for business owners and facilitates electronic accounts payable, accounts receivable and bill payment operations. Bills can be transferred and managed automatically from Xero to Bill.com, while data can be synchronized between the two services, such as vendors, customers or account information. Payments can also be made through Bill.com using the Xero bank reconciliation service.
According to Xero General Manager of Business and Corporate Development James Maiocco, the service frees up SMEs from back-end accounting processes. “Our partnership with Bill.com will offer a simple solution for managing payments and tracking cash flow — both crucial to the health of a small business,” he said.
Coincidentally, both Xero and Bill.com recently released mobile apps for small business users. Last month Xero unveiled its mobile accounting tool for Android, and just weeks prior, Bill.com rolled out its bill payment solution for devices running Apple’s iOS.
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