The Bill.com Network is reaching critical mass, surpassing the 1 million member mark and $25 billion in annual transactions.
Through the Network, Bill.com connects businesses and banks in the cloud, enabling faster and lower-cost payments and improved collaboration to bring digital business payments into the 21st century.
With more than 1 million members in the Bill.com Network, financial institutions and businesses can now benefit from the following features:
• Faster and lower-cost payments: The Bill.com Network enables faster and lower-cost payments. Businesses in the Bill.com Network report getting paid 2-3 times faster.
• Better collaboration: The Bill.com Network allows parties to collaborate in real time, with all payment-related questions and comments tracked and saved for later reference.
• Networked security: Every member of the Bill.com Network is vetted and approved, reducing fraud and other security issues across the system.
• Greater visibility: With the Bill.com Network’s “Search” and “Discover” features, businesses can quickly and easily find their vendors and connect to pay or get paid with one click, reducing the time associated with setup, data entry and upkeep.
• Real-time updates: In the coming months, Bill.com will introduce a status feed to the Network –a live payments dashboard that provides real-time notifications and updates on the status of incoming and outgoing payment activity.
Bill.com saves companies over 50% of the time typically spent on financial back-office operations by automating end-to-end processes.
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