Paying bills doesn’t have to be a massive drain on time and resources. Learn how to manage this important business task with ease thanks to Bill.com.
All too often we hear of business owners putting off paying bills.
Now, this isn’t because they can’t pay. Rather, the bills are pushed to the bottom of an ever expanding list of to-dos due to an unwieldy and disorganized approach to business admin.
And this approach can have serious implications: late payment can result in fractured relationships with suppliers, delayed shipments, and unhappy customers.
But there is a better way.
By using cloud-based platforms and utilizing automation, you can streamline your bill payment process and save yourself a great deal of time.
In this post, we’ll take you through the features and benefits of one such platform: Bill.com
We all need a little more time
As a small business owner, it can feel like there aren’t enough hours in a day. Especially when it comes to working on your business, rather than in it.
What’s more, if you’re relying on outdated systems or simple Excel spreadsheets, that valuable time can evaporate before your eyes as you seek to chase and make payments, or communicate with employees or vendors.
Instead, wouldn’t it be great if everything was in one place and consistently up-to-date?
Well, that’s what you get with Bill.com. In complete contrast with manually inputting bills and other financial information into a spreadsheet or desktop accounting system, Bill.com complements a range of cloud-based accounting platforms, syncing payment data and providing you with an accurate picture of your company’s financial health.
You can see what you’re owed, what you owe, and approve, schedule, and pay at any given moment. And thanks to the handy smartphone app, you can do all of that from your phone, whether you’re on the road for business, or on the sofa after a hard day’s work.
In short, automation and cloud-based platforms give you back control and time.
But that’s not all; here are a few more of our favorite features:
1. Make the right call with accurate data
Being able to make the right decisions at the right times for your business is crucial, and can only happen when you have access to accurate and up-to-date information.
That’s why introducing the cloud to your day-to-day business operations could be a game changer.
You’ll have everything you need to know at your fingertips, with the ability to run reports and delve deep into figures.
2. Improve approvals with a streamlined process
The approval process is an often overlooked part of internal accounting for small businesses.
And if you’ve ever faced a backlog of bills awaiting approval, you’ll know just how time-consuming and costly it can be when trying to get caught up.
By using Bill.com, you can consign this scenario to the past where it belongs. Delegate specific approvals to specific people, giving them access to the information they need to do their jobs, and nothing more.
They can then quickly and easily manage bills via the smartphone app, swiping right to approve, or left to decline.
Or, if you’d prefer, you can even delegate regular bill payments to our team here at Polay+Clark, leaving you with even more time to drive your business forward.
3. Online or off, security is key
Are you one of the millions of Americans still using paper checks? It might be time to stop.
Not only is it incredibly inefficient, it also leaves you open to fraud due to the fact that your accounting number and routing number are right there on the front of the check.
Make the switch to Bill.com and you’ll have two options when it comes to payment:
- You can opt to send checks via the platform, with the money sent from Bill.com’s escrow account, therefore keeping the recipient from seeing your bank details.
- Or you can send an electronic payment directly to the vendor’s bank account.
Never miss a payment again with Bill.com
If you have designs on growing your business and maximizing its potential, you need to ensure your internal processes are handled in the most efficient manner possible.
That’s why we recommend moving your systems to the cloud, and if you’re ready to do just that, we can help.
We know how to get the most out of platforms like Bill.com, and we’ll take you through what you need to know prior to getting started.
Get in touch today and find out how moving to the cloud can transform your bill paying process.