Bill.com has announced the launch of the Bill.com Network, a business payments network to help companies pay and get paid in a fast, simple and secure way. Bill.com has over 1 million members and a transaction volume exceeding $25 billion annually. The network connects businesses and banks in the cloud and is designed to enable faster and lower-cost payments and improved collaboration.
The members of the Bill.com Network can benefit from:
- 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.
René LaCerte, CEO of Bill.com, stated “Partnerships between financial institutions and tech companies like Bill.com are closing the tech gap between banks and businesses. Our Network is replacing archaic and complex legacy payment processes with new cloud-based models.”
Businesses can join the Bill.com network by visiting Bill.com