Is your business still handwriting checks, filling out envelopes and at the last-minute running to the post office to buy stamps? Recent research shows that 90% percent of surveyed U.S. businesses still rely on paper checks and other manual processes.
Issues like long approval cycles and missing information on invoices are the leading cause of payment delays and missed discounts. It’s a time-consuming, inefficient, and costly way to work.
If you’re one of those businesses, we recommend you try a digital business payments company like Bill.com. Whether you’re focused on paying or getting paid, digital business payment software simplifies and automates the entire process. This software allows businesses to pay bills and receive ePayments through ACH, which is the quickest, most efficient and cost-effective method to pay or receive payment. Digital business payment companies helps businesses make EFT payments, which is a quick and secure way for business to business transactions.
Digital business payments software makes paper-based manual transaction processing obsolete by transforming how companies manage their cash inflows and outflows, creating efficiencies and freeing their customers to run their businesses.
They’ve been helping businesses streamline their financial workflow, generate and process invoices, streamline approvals, send and receive payments, sync with their accounting system, and manage their cash. As a result, the software is central to accounts payable and accounts receivable operations for businesses.
Whether you use QuickBooks, Xero, Oracle NetSuite, or Sage Intacct accounting software, it’s usually pretty easy to integrate by automatically syncs with your top accounting software; keeping your books consistent and speeding up reconciliation. Their sync capability helps you seamlessly add payment and approval workflows into your accounts payable process.
Digital business payments gives QuickBooks and Xero users the ability to track their payments—from approval routing to funds transfer. The software syncs with the following data objects and more:
Benefits provided for Account Payable:
Benefits provided for Account Receivable:
Makes business payments simple, fast, and secure
Receiving Payment: SELECT: Pick how you’re paid—options include ACH payments, credit card, or PayPal.
SEND: Invoice your customers electronically for faster bill pay.
RECEIVE: Get paid 2x faster than with paper checks.
RECONCILE: Sync with your accounting system for fast reconciliation and less data entry.
Getting started is simple. Their fast, easy setup usually takes less than 60 minutes. Plus, most of the larger software companies allow access to their customer service and payment support teams. They have a risk free trial and offer a variety of pricing plans to fit your exact business needs.
Bill.com is one of the larger digital business payment companies. If you want to investigate similar options you can visit the following link: https://www.trustradius.com/products/bill-com/competitors
Should you have additional questions or would like to learn how digital business payment companies can help the Allen Wine Group manage your account, please give us a call today. (707) 528-3860