Bill.com, Wells Fargo Debut AP Automation Feature For SMBs

Bill.com and Wells Fargo are partnering on a new feature called Bill Manager to help small- to medium-sized businesses (SMBs) access automation for the accounts payable (AP) and accounts receivable (AR) process, according to a press release emailed to PYMNTS.

Bill Manager will integrate cloud-based processes from Bill.com into Wells Fargo’s digital banking service, the release stated, creating a paperless method for paying bills and offering “simplicity, visibility and control.”

The Bill Manager service will aid companies in electronically capturing incoming bills and invoices, which are digitally routed through a workflow for simplistic review and approval, according to the release. Other benefits include tracking invoices for real-time insights; reviewing and approving invoices from any device to allow for both office and remote work; online storage of documents, including past bills, images of cleared checks and vendor-related contracts; and automatic syncing of transactions with common accounting software.

Customers will also have access to the Intelligent Virtual Assistant, which will let businesses automatically capture and enter requisite data from any kind of invoice. They can also access a feature to request payments through Bill Manager by creating and sending invoices to customers electronically, helping expedite payments via a customer-branded payments portal, the release stated.

Josh Goines, senior vice president, Strategic Partnerships and Business Development at Bill.com, said in the release that the idea is to aid SMBs in shifting to the cloud.

“With Bill Manager, SMBs can go live with digitally automating their accounts payable processes in a matter of hours, helping them to put their back office in their back pocket,” he said, according to the release.

Bill.com has been increasingly focused on mobile payments, Chairman, CEO and Founder Rene Lacerte said, according to PYMNTS. He said the doubling of mobile app downloads in just a year proved that mobile was an increasing source of the company’s engagements.