Bill.com Unveils New Solution to Accelerate Digitization of Payments for SMBs
New Bill.com Fast Pay Dramatically Improves Cash Flow Management By Allowing Businesses To Expedite Payments Digitally.
- (1888PressRelease) December 12, 2014 - Bill.com, a leading company creating magically simple business payments solutions for businesses everywhere, today announced the release of Bill.com Fast Pay. Fast Pay is a new service that enables SMBs to pay and get paid faster, allowing precise cash flow management. Traditionally, checks and other payments take anywhere from four to ten days to be processed and delivered. This can feel like a lifetime for some businesses. Now, with Fast Pay, customers can expedite payments when businesses need to maintain tight cash flow or make emergency payments, keeping business operations running smoothly without a break in workflow.
According to the U.S. Small Business Administration (SBA), two-thirds of new businesses will collapse after two years. This figure indicates that cash flow is the lifeblood of any small business. It's paying and getting paid quickly that helps keep businesses running smoothly. Yet, digital payment adoption for businesses remains painstakingly slow. Bill.com is changing that by offering SMB owners an automated way to pay and get paid electronically anytime, anywhere.
"Our customers have told us they need a simple and secure solution for those times when they need to pay their vendors quickly," said René Lacerte, CEO of Bill.com. "Fast Pay was developed in response to those unplanned or emergency situations. Now, SMBs in particular can rely on a seamless digital solution without the hassle of going to the bank to send wire transfers or scheduling pickups by FedEx or UPS."
Key features and benefits of Bill.com Fast Pay include:
- Overnight ePayments or overnight, two-day, and three-day checks with tracking and full remittance information.
- Approval workflows, audit trails, and customer support, which allows customers to respond to emergencies without bringing chaos to their business.
- Tracking number displayed once payment is submitted.
- User-friendly and intuitive interface which automatically calculates payment arrival date and time.
- Option for customers to void checks.
About Bill.com
Bill.com (www.bill.com) is the leading digital business payments company creating magically simple A/P and A/R solutions. We are at the center of business payments, uniting banks and businesses on the fastest growing payments network. Bill.com helps over 600,000 businesses process over $17 billion in payments per year and saves companies up to 50 percent of the time typically spent on financial back-office operations by securely automating their end-to-end processes. Two of the top five U.S. banks and 35 percent of the top 100 accounting firms rely on Bill.com as their primary payments solution. The recipient of more than 40 awards, Bill.com was recently recognized as one of the San Francisco Business Time's Most Innovative Companies and proudly received a PC Magazine's Editor's Choice Award. For more information, please visit Bill.com website.
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