- BILL (BILL, Financial) launches Supplier Payments Plus to streamline payment processing for large suppliers working with SMBs.
- The solution enhances efficiency by reducing manual work and integrating with existing ERP systems.
- Supplier Payments Plus aims to accelerate cash flow through faster digital payments and improved AR workflows.
BILL (BILL), a prominent financial operations platform, has introduced Supplier Payments Plus, a new feature designed to simplify the payment process for enterprise suppliers dealing with small and midsize businesses (SMBs). This innovation is positioned to help firms manage high volumes of transactions efficiently, addressing common challenges in payment reconciliation and cash application.
Supplier Payments Plus offers enterprise-level suppliers customizable remittance advice and automated accounts receivable (AR) workflows, significantly enhancing their ability to process payments accurately and swiftly. By converting traditional paper checks to electronic payments, the new service facilitates quicker cash flow, benefiting both suppliers and SMBs by reducing overhead costs and manual tracking efforts.
The latest addition to BILL's offerings aligns with its broader vision of creating a more connected and intelligent payment ecosystem. This innovative solution is compatible with existing Enterprise Resource Planning (ERP) and automation systems, allowing integration without the need for extensive IT support. Custom reporting capabilities and seamless AR automation further contribute to enhanced operational efficiency.
BILL continues to reinforce its position in the financial services sector by catering to over seven million members, ensuring swift and efficient business transactions for both large suppliers and SMBs. The company remains committed to leading the automation of financial operations, fostering growth and connectivity within the business community.
For additional information about Supplier Payments Plus, visit bill.com/solutions/suppliers.
