Corporate payments solution provider Bill.com has announced enhancements to its offerings for middle-market companies, aimed at reducing friction in both accounts receivable (AR) and accounts payable (AP).
The company's press release, issued on Wednesday (Oct. 16), noted a range of enhancements — including purchase order-to-payment workflow, improved customer support, expanded global payment capabilities and the launch of a VIP program for customers using its international payment services.
Its Purchase Orders (POs) function connects business clients to a digital platform, allowing them to connect POs generated from Oracle NetSuite or Sage Intacct, integrate them directly into the Bill.com platform, then compare and reconcile POs and invoices in a single portal. The solution also automatically routes POs for approval and payment to prevent back-and-forth communication between PO creators and accounts payable teams, the company explained.
Bill.com's expanded global payment capabilities broaden its cross-border transaction reach into new markets, now supporting 106 currencies in more than 130 countries. The integration of its VIP program is targeted toward middle-market companies with a high volume of global transactions, and includes access to personalized services, exchange-rate analysis and special FX rates. The company has also enhanced its Intelligent Virtual Assistant solution, using artificial intelligence to automatically set up payments to migrate data directly from an invoice into the required payment field for their clients.
In addition to the new features, Bill.com has announced expanded partnerships with Oracle NetSuite, Sage Intacct and other resellers.
"As companies scale, the advantages of AP and AR automation are magnified," said Bill.com CEO René Lacerte in a statement. "Mid-sized companies can be in dire need of next-generation, end-to-end, back-office solutions that help them work smarter, faster and more efficiently. Today, we're introducing critical new capabilities for mid-sized companies. ... These new offerings will provide insights for customers to act on and enable them to automate their AP/AR processes, thus saving significant time and money while greatly improving productivity."
