BILL

BILL (formerly Bill.com) is arguably the most universally recognized accounts payable (AP) and accounts receivable (AR) automation software for small and midsize businesses (SMBs) in the United States. It was designed to completely eradicate the incredibly tedious, error-prone manual processes associated with traditional bookkeeping—such as physically printing paper checks, manually hunting down executives for physical signatures, and painstakingly entering invoice data into accounting software line-by-line. The core value proposition of BILL is its incredibly streamlined, automated workflow. When a vendor sends an invoice to a business, it is routed directly to a dedicated BILL inbox. The platform utilizes advanced Optical Character Recognition (OCR) and machine learning to automatically extract the critical data (vendor name, amount, due date, invoice number). It then routes the digital invoice through a pre-defined, highly customizable approval workflow. An executive can receive a push notification on their phone, view the invoice, and click "Approve." Once approved, BILL automatically facilitates the actual payment via ACH, virtual card, or even by printing and mailing a physical check on the company's behalf. Crucially, BILL features incredibly deep, bi-directional synchronization with the most popular accounting software packages on the market, including QuickBooks (Online and Desktop), Xero, Sage Intacct, and Oracle NetSuite. This means that once a bill is paid in BILL, the transaction is automatically recorded and reconciled in the general ledger, completely eliminating double data entry. Because of its massive adoption by accounting firms acting as outsourced CFOs for thousands of small businesses, BILL has become the de facto standard for SMB financial operations.