BILL’s accounts payable (AP), receivable (AR), and spending and expense management tools have been consolidated into a single platform.
According to a news release released by the provider of financial automation software for SMBs on Thursday (Sept. 7), the new BILL Financial Operations Platform enables small- to medium-sized enterprises (SMBs) to efficiently optimize and manage their cash flow.
“We’ve pioneered a more integrated and comprehensive experience to give SMBs the ability to optimize and manage their financial operations in one place — helping them make the right financial decisions so their businesses can thrive,” said Irana Wasti, chief product officer at BILL.
According to the business, more than 80% of SMBs believe that automation is crucial for managing money and meeting strategic objectives. These small and medium-sized businesses are searching for comprehensive and integrated cash management solutions.
According to a press release, the BILL Financial Operations Platform provides a number of financing options and payment methods, including virtual cards, overseas payments, Pay By Card, the BILL Divvy Corporate Card, and real-time payments like Instant Transfer. It also provides real-time cash flow information.
According to the announcement, the new platform is comprised of three major components. BILL Accounts Payable automates invoice entry, approvals, and payment options. BILL Accounts Receivable automates invoicing, payment tracking, and collection.
