PALO ALTO, CA--(Marketwire - Jun 27, 2012) - Bill.com, the leader in integrated bill payment, invoicing and cash management solutions for businesses, today announced the general availability of its powerful cash management feature that completes the Cash Flow Command and Control System™. This new feature leverages Bill.com's proprietary, cloud-based accounts payable and accounts receivable systems to deliver a more fluid method of cash flow management than ever before possible. Bill.com's cash flow system is the only solution that connects user's banks, books and business, enabling companies of all sizes to finally rid themselves of the cumbersome, error-prone and highly manual spreadsheets that have plagued finance for decades.
The cash flow solution empowers finance leaders with a comprehensive view of their cash forecast and the ability to take immediate action with unprecedented control and precision. Unlike the spreadsheet-based cash flow management processes that most businesses rely on today, the Cash Flow Command and Control System links directly to the users' key financial sources, including accounting systems, to gather information and populate automatically.
Mac Frampton, co-owner, CFO and artist for Alkehest Artists and Attractions, uses Bill.com's powerful cash flow system to manage his concert business, which requires him to book and track 40 artists as they perform across the country. Prior to Bill.com, Frampton often had difficulty tracking payments and knowing his cash flow position at any given time. His business relies on payments from clients which arrive at varying times based on when events take place.
"Before Bill.com, there was a lot of human error involved in my books so cash flow was hard to track. Bill.com's cash flow system has given me immediate precision control over my cash flow. It has been miraculous," Frampton said. "Not only do I have far superior knowledge of when I have enough money to make investments and when I need to tighten my belt, I can do this from my mobile device in real time, which is essential for someone who travels as much as I do."
With this new cash flow system, users also gain the ability to drill down into invoices, bills, contracts and notes while forecasting cash. Users can move items in and out to account for "what if" scenarios, countless variables and more. The information can easily be adjusted and modeled, and the results are reflected in easy-to-understand, one-step charts and tables. Even data that isn't recorded in the Bill.com system can be added seamlessly to provide businesses with the most intelligent cash flow forecasting system available today.
With the Bill.com cash flow system, businesses can obtain a true reality check of their financial situation at any given point in time since payables and receivables information is updated automatically, instantaneously transforming into live and actionable data. In addition, Bill.com helps companies understand the best times to collect money from customers or pay bills. It simplifies the ability to send reminders for payments due, then makes adjustments to project cash flow based on the expected date of payment or receipt, not just the original due date entered into a spreadsheet.
"Our new cash flow management is changing the game in how businesses make financial decisions by arming them with streamlined, clear data rather than complicated, cumbersome spreadsheets," said René Lacerte, founder and CEO of Bill.com. "As our Beta users' success has shown, real time cash flow management helps businesses not just control their bottom line, but make the investments and decisions needed to manage and grow their businesses as aggressively and easily as possible."
For more information on how to sign up for a risk-free trial of the new cash flow solution from Bill.com, please go to www.bill.com.
Bill.com is a cash flow command and control system that manages accounts payable and receivable for businesses of all sizes. Offering online bill pay, custom invoicing services, unlimited document storage, collaboration tools, and mobile access, Bill.com's services easily sync to users' accounting software programs and online bank accounts to better control company financials. Bill.com guards against errors and employs enterprise-class fraud protections that current methods cannot match. More than 100,000 users are now getting paid and paying millions of bills, worth billions of dollars, using Bill.com. Financial institutions can now offer these benefits to their business customers by integrating Bill.com with their banking platform.