Online accounting software maker Xero is now integrated with cloud-based accounts payable and receivable service Bill.com, allowing accounting professionals and their clients to collaborate while gaining insight into their financials.
The news was formally announced at The Sleeter Group’s 2012 Accounting Solutions Conference.
Through the integration with Bill.com, Xero users will be able to receive bills online; get unlimited storage for all bills and documents; automate the approval process; pay bills electronically with no duplicate data entry; manage the invoicing process to help them get paid faster; access cleared check images and remittance information; and view accrued, actual and projected cash flows in real time.
“We have customers and accountants already using Bill.com and it really made sense for this [integration] to happen,” said Jamie Sutherland, president of Xero’s U.S. operations. “We share the same vision of a paperless world where accountants and businesses are saving time and being more automated, they can now focus on more value-added things. Having data entered once is all about what we stand for, we have a full accountant solution and Bill.com does too.”
For Bill.com, this was another in a growing line of integration partnerships with accounting and accounting-related solution providers. This one in particular came about after some quick conversations between Sutherland and Bill.com founder and chief executive Rene Lacerte.
“Both of our respective customers have been asking for more seamless integration [between the two products] and we have created this so customers and accounting professionals can collaborate better,” said Lacerte. “Our focus is on automating cash flow and integrating that with Xero and their accounting package. We’re excited to leverage that for joint customers, both have active progressive accountants that use our products and this saves them from having to do the work twice or separately.”