Bill.com is strengthening its integration with Intuit’s QuickBooks in an effort to streamline SME payments.
The companies said Wednesday (June 28) that Bill.com now lets its small business users process electronic payments from directly within QuickBooks Online via its Bill Pay for QuickBooks Online integration.
According to Bill.com, the solution can save SMEs up to 50 percent of time spent paying bills, with added features for cash management. The integration enables SMEs to send ACH bank transfers or have paper checks sent for the company, while Bill.com is also preparing to launch a tab on QuickBooks Online that lets SMEs track the status of online payments and manage exceptions. When checks are sent, the portal can provide business owners with a digital image of cleared checks for auditing purposes.
The integration will also help SMEs set their own vendors up for bank transfers and electronic payments.
“For many small businesses, the traditional paper-based process of organizing, paying and managing bills is outdated, complex and time-consuming,” said Bill.com CEO René Lacerte in a statement. “Now that digital payments are available directly within QuickBooks, there’s no reason to hang on to paper checks.”
The company said it plans to roll out new features for QuickBooks Online in the coming months, including invoice management and easier access to bill pay information.
The integration was first tested with a few customers in January, and to date, these clients have processed more than $7 million worth of payments, the companies said.
“We understand how time-consuming it can be for small business owners to manage finances and get their bills paid on time,” said Gretchen Salyer, director of Strategic Partnerships at QuickBooks owner Intuit. “As part of our commitment to help small businesses succeed, our integration with Bill.com gives business owners an easy-to-use solution that can ultimately help them save time and instead focus on building their businesses and meeting the needs of customers.”