Oracle NetSuite Embeds BILL-Powered Payment Automation in Accounts Payable Solution

Oracle NetSuite has embedded BILL-powered payment automation capability in its accounts payable offering, NetSuite Intelligent Payment Automation.

This combination will enable U.S. customers using NetSuite Intelligent Payment Automation to accelerate their AP processes, increase efficiency and reduce risk, the companies said in a Tuesday (Oct. 7) press release.

“Our strategic partnership with BILL will enable our customers to optimize payment processes within NetSuite,” Oracle NetSuite Founder and Executive Vice President Evan Goldberg said in the release. “It will also help us continue to extend the value our customers get from NetSuite Intelligent Payment Automation, one of the world’s most advanced, AI-powered accounts payable offerings on the market.”

BILL CEO and Founder René Lacerte said in the release that this collaboration will enable businesses to “pay faster, optimize cash flow and accelerate growth.”

“This partnership marks an important milestone in our BILL mission to make intelligent finance more accessible to growing businesses everywhere — delivering innovation where they need it most, inside the systems they rely on to run their critical operations,” Lacerte said.

BILL reported in May that the number of small- and medium-sized businesses using its financial operations platform increased 2% over the previous year to reach 450,000.

Over the same period, the number of transactions processed by BILL increased 20% to 26 million and the total payment volume transacted by BILL’s customers rose 10% to $71 billion.

“At BILL, we are energized by the fact that during the quarter, we helped more than 450,000 small businesses automate their financial operations so they could spend more time focused on their mission,” Lacerte said at the time.

PYMNTS reported in March 2024 that enterprise resource planning providers and payments firms are embedding payments functionalities into the software that client companies use to keep operations going and that doing so means paying suppliers and reconciling transactions is digitized and made easier.

The PYMNTS Intelligence and Esker collaboration “Why Automating Both AR and AP Is Vital to Fiscal Fitness” found that automation streamlines accounting, strengthens security and improves B2B relationships through improved visibility and efficiency.

Ninety-five percent of companies that fully automate their AP processes see increased accuracy, efficiency and operational improvements, according to the report.

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