Bill Overview
Bill is a cloud-based financial operations platform designed to simplify and automate accounts payable and accounts receivable processes for businesses. It streamlines bill payment, invoicing, and cash flow management, helping companies save time and reduce errors in their financial workflows.
Key Features of Bill
- Automated Accounts Payable: Digitize and process invoices, automate approval workflows, and schedule payments.
- Accounts Receivable Management: Create and send professional invoices, track payments, and automate reminders for overdue accounts.
- Cash Flow Management: Gain real-time visibility into your company's financial position with detailed cash flow reports and forecasts.
- Bank Sync and Reconciliation: Automatically import transactions from connected bank accounts and reconcile them with your accounting records.
- Multi-Entity Support: Manage finances for multiple entities or subsidiaries from a single dashboard.
What Makes Bill Unique
- AI-Powered Bill Capture: Uses machine learning to automatically extract and input data from invoices and bills, reducing manual data entry.
- Intelligent Approval Workflows: Customizable, rule-based approval processes that adapt to your organization's structure and policies.
- International Payments: Supports payments in multiple currencies and to over 130 countries, with competitive exchange rates.
- Built-in Fraud Prevention: Advanced security features including multi-factor authentication, audit trails, and anomaly detection to protect against financial fraud.
- Integrated Spend Management: Combines accounts payable, corporate cards, and expense management in a single platform for comprehensive spend control.
Is Bill Right for Me?
Bill is ideal for small to medium-sized businesses and growing companies that want to streamline their financial operations and gain better control over cash flow. It's particularly suited for organizations looking to automate manual accounting processes and improve financial visibility across multiple entities or locations.
Signs You Need Bill
You're spending too much time on manual financial tasks
- Hours spent manually entering invoice data
- Delays in approving and sending payments
- Frequent errors in financial data entry
When Bill Isn’t the Right Fit
You're a very small business with simple financial needs
- Fewer than 5 employees
- Low monthly transaction volume (less than 20 bills/invoices)
- No need for approval workflows
Customizing Bill
- Workflow Customization: Create tailored approval workflows based on amount thresholds, departments, or other criteria.
- Integration Options: Connect Bill with popular accounting software, ERP systems, and other business tools through pre-built integrations or API.
- Custom Fields and Tags: Add custom fields to vendor profiles, bills, and invoices to track additional information specific to your business.
- Reporting and Analytics: Build custom reports and dashboards to track the metrics that matter most to your business.
- User Roles and Permissions: Define granular access controls and permissions for different user roles within your organization.
Is Bill Worth It?
Bill is worth it for small to medium-sized businesses looking to streamline their accounts payable and receivable processes, save time, and improve cash flow management. The software's automation features, including invoice processing, payment scheduling, and financial reporting, can significantly reduce manual work and errors, potentially saving hours each week for finance teams. However, for very small businesses with simple financial needs, Bill may not be a good fit.
How Much Does Bill Cost?
Pricing is one of the most important evaluation factors when buying software. We have pricing
insights contributed by current and former customers of Bill to help you make the
best purchasing decision for your use case.
Competitors to Bill
| Vendor | Reasons to Consider | Best For |
|---|---|---|
| Tipalti | Offers more advanced global payment capabilities and supplier management features | Companies with complex international payment needs or large numbers of suppliers |
| Stampli | Provides a more visual, collaborative approach to invoice processing and approvals | Organizations that prioritize team collaboration in their AP processes |
| Routable | Specializes in high-volume B2B payments with a developer-friendly API | Tech-savvy companies with high payment volumes and need for custom integrations |
| Expensify | Focuses more on expense management and reimbursements | Companies prioritizing employee expense tracking and reimbursement |
| Emburse | Offers a suite of expense management and AP automation solutions | Organizations looking for a comprehensive spend management platform |
| SAP Concur | Provides integrated travel, expense, and invoice management solutions | Large enterprises with complex travel and expense management needs |
Open Source Alternatives to Bill
| Projects | Reasons to Consider | Best For |
|---|---|---|
| InvoiceNinja | Offers basic invoicing and payment tracking features with a user-friendly interface | Small businesses or freelancers looking for a simple, self-hosted invoicing solution |
| ERPNext | Provides a full-featured ERP system including accounting and invoicing modules | Small to medium-sized businesses looking for a comprehensive, customizable business management solution |
| Akaunting | Offers online accounting software with invoicing and expense tracking features | Small businesses or startups looking for a simple, modern accounting solution with basic AP/AR functionality |