Payment solutions provider
"Bill's SMB customers know their suppliers are critical to their success, which is why we're investing in powerful new capabilities that deliver value for both sides of the transaction—transforming how buyers pay and how suppliers receive funds. Supplier Payments Plus is the next major milestone in this journey," said Mary Kay Bowman, executive vice president and general manager of payments and financial services at Bill. "This innovation not only drives more value for large suppliers — it also marks a key step forward in advancing our vision of a more connected, intelligent and robust payments ecosystem, enabling Bill's growing network of more than seven million members to connect and do business quickly and efficiently."
The solution reconciles high-volume, smaller-dollar payments, even those with missing or messy remittance; works with existing enterprise resource planning and automation systems, enabling suppliers to go live in weeks without IT support. It builds reports with custom remittance data fields that work with the user's current cash application software or can be pulled directly into your ERP; converts checks to e-payments; allows the user to receive consolidated/individual payments, and route by organization structure; gives the user daily consolidated files with flexible file delivery; and provides a single place for payments, statuses, customers and paid invoices.
The announcement comes just a few weeks after Bill announced that Rohini Jain will join the company as chief financial officer. Jain will lead finance strategy across Bill, reporting to CEO and founder René Lacerte. With Jain joining the executive team on July 7, John Rettig will take on an expanded role as both president and chief operating officer, to further accelerate growth and category leadership.
