Bill.com, a business payments and software platform provider, announced on Wednesday its new set of offerings designed to help midmarket companies better automate their AP/AR functions and achieve greater operational efficiencies.
According to Bill.com, the newly introduced capabilities for the midmarket include support for a centralized, PO-to-payment workflow; advanced customer support; expanded coverage for cross-border payments; a VIP program for International Payments customers with competitive exchange rates; and increased collaboration with partners including Oracle NetSuite, Sage Intacct, and dozens of value-added resellers.
“Building on its prior success of helping businesses transform back-office financial operations, Bill.com has seen strong adoption in the midmarket as it frees these organizations from antiquated financial processes, helping them streamline the transaction lifecycle and grow their business.”
While sharing more details about the offerings, René Lacerte, CEO at Bill.com, stated:
“As companies scale, the advantages of AP and AR automation are magnified. Midsized 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 midsized companies, including PO matching, expanded international payments and partnerships. 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.”
The midmarket capabilities include the following:
- Bill.com Purchase Orders: This new platform innovation for midsized companies syncs POs directly from Oracle NetSuite and Sage Intacct into the Bill.com platform.
- Expanded International Payments: This capability increases coverage for cross-border payments and now encompasses more than 130 countries and 106 currencies.
- Intelligent Virtual Assistant (IVA): Bill.com AI capabilities make it easy to set up payments, helping midmarket customers avoid costly first-time mistakes.
- Premium Customer Support: This option includes enhanced support service level options, along with newly introduced training and education services, to optimize workflows and help customers get the most out of Bill.com.
Jade Lee, Director of Corporate Accounting at HashiCorp, a leader in multi-cloud infrastructure automation software, added:
“With its AI-enabled technology, Bill.com intelligently automates and streamlines our end-to-end financial processes so we can focus on more significant, value-added work. From accounts payable with approval queues to cloud-based access to our files for audits, Bill.com has helped us scale through our rapid growth. We look forward to new features designed for companies like ours, including the support of Purchase Orders.”