Bill.com is a cloud-based software company that automates accounts payable and other back-office financial processes for small and medium-sized businesses (SMBs). René Lacerte started the business in 2006, and in 2020 it relocated its headquarters to San Jose, California.
Bill.com launched International Business Payments in 2018 to provide internet payments in 40 nations. In May 2019, the business grew to 137 countries and 106 supported currencies.
Through smart alliances with several businesses, including FNBO and American Express, Bill.com has increased the scope of its services.
70% of the top 100 US accounting and financial behemoths, including Bank of America, JPMorgan, and Wells Fargo, have used or collaborated with the company’s services. Since 2019, Bill.com has automated the entire workflow and payment procedure using artificial intelligence.
As businesses search for the best solutions to their payment processing needs, it is important to consider other available options in the market.
This blog post will examine the top 10 bill.com competitors to consider in 2024. We will discuss the various features and benefits offered by each option and their pros and cons.
By the end of this article, you can decide which payment processing solution is best for your business.
What is Bill.com and How Can Businesses Benefit From It?
When it comes to digitizing and streamlining important financial processes, Bill.com is the go-to platform. As a leading provider of cloud-based software, it simplifies, digitizes, and automates back-office financial processes to help businesses in various industries save time, money, and resources.
What is Bill.com?
Bill.com is an online bill payment and receivables software that brings smart automation and new bill payment capabilities to businesses.
Bill.com harnesses intelligent technology to help streamline the payments process while allowing businesses to keep track of the critical financial information they need.
By digitizing and streamlining manual processes such as invoicing, accounts receivable, and payments, Bill.com helps businesses transition to a more efficient way of managing their finances.
How Can Businesses Benefit From Bill.com?
Businesses of all proportions, from sole proprietorships to large corporations, can benefit from Bill.com. The platform can help enterprises save time and money and reduce the risk of manual errors.
In addition, Bill.com offers real-time visibility into accounts payable and receivable, which can help businesses identify patterns and improve their cash flow.
Businesses can also use Bill.com’s automated payment processing and recurring payment capabilities, simplifying the payer and receiver process.
By utilizing Bill.com’s cloud-based software, businesses can reduce their paper usage and make their payment process more secure. Data is stored in an encrypted format and can be accessed only after authentication.
In summary, Bill.com is a leading provider of cloud-based software that clarifies, digitizes, and automates back-office financial processes.
This platform brings smart AP and AR automation and new bill payment capabilities to businesses, helping them save time, money, and resources.
By harnessing intelligent technology and offering automated payment processing, Bill.com can help businesses transition to a more efficient way of managing their finances.
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Why Do We Need Bill com Alternatives?
As businesses become increasingly digital, many companies turn to online bill payment and receivables software to streamline their accounts payable and receivables processes.
Bill.com is one of the most popular and well-established software solutions. However, as with all software, it does have its drawbacks, and it is worth considering some Bill.com alternatives.
For starters, Bill.com is relatively expensive compared to many of its competitors. In addition, the platform does not offer customizable invoicing, which can be a major asset for businesses that prefer to brand their invoices.
Furthermore, the platform does not provide API integration, which can be useful for companies that need to integrate their billing processes with other software.
Choosing the best Bill.com alternative for your business involves researching the various options. The best Bill.com competitors offer features such as API integration, customized invoicing, and competitive pricing. They also typically provide customer support and easy-to-use interfaces.
When considering an alternative to Bill.com, businesses should also look into each platform’s security features. Many Bill.com competitors offer secure, encrypted data storage and the ability to set up two-factor authentication.
This is important for businesses, particularly those that handle sensitive financial information, such as payment data, as a matter of course.
Businesses also need to ensure that the Bill.com alternative they choose can meet their individual needs. This means looking into features such as scalability, customization options, and reporting capabilities.
Additionally, businesses should be aware of any hidden fees or unexpected costs associated with the chosen platform.
Finally, businesses should consider the customer service and support offered by the chosen Bill.com alternative. The best providers offer responsive customer support and the ability to troubleshoot any issues quickly.
What Are the Top 10 bill.com Competitors in 2024?
2024 assures to be an exciting year for businesses and financial professionals as the digital revolution revolutionizes how companies manage their finances.
As digital payment solutions become increasingly popular, companies are turning to bill.com – a comprehensive cloud-based financial solution – to streamline their processes.
But while bill.com is quickly becoming one of the most popular solutions on the market, it’s still worth considering the top 10 bill.com competitors before making a final decision.
This article will explore the top 10 bill.com competitors in 2024 and discuss their respective features, benefits, and drawbacks.
1. Stampli
Stampli is an invoice processing software that allows businesses to send invoices and import their bank transactions or claim expenses from any device. It is an online accounting software that helps small companies to save time and grow.
Stampli is one of the most widely used bill.com competitors, making it an excellent Bill.com alternative.
Stampli’s features include automated invoice matching, intelligent routing, and real-time notifications. This allows businesses to streamline invoice processing, significantly reduce manual work, and get paid faster.
Furthermore, the software offers a multi-user access feature, allowing users to collaborate with colleagues and customers.
The advantages of Stampli include its user-friendly interface, automated invoice matching, and multi-user access.
With the help of Stampli, businesses can process invoices quickly and accurately and manage their accounts receivable with ease. The software also offers extensive templates to customize invoices and other documents.
The software also has a few disadvantages, such as limited integration options and a lack of support for certain languages. Additionally, the pricing plans might be too expensive for some small businesses.
Overall, Stampli is an excellent Bill.com alternative and a great choice for businesses looking for invoice processing software. It offers a user-friendly interface, automated invoice matching, and multi-user access, making it a great choice for businesses of all sizes.
Furthermore, the pricing plans are competitive and the software offers an extensive selection of templates to customize invoices and other documents.
2. Tipalti
Tipalti is a revolutionary financial automation platform that puts you in charge of your business’s financial operations.
With Tipalti, you can bring scale, efficiency, and focus to your payables, allowing you to elevate your business to the next level. Many companies are now turning to Tipalti as an excellent Bill.com alternative.
Features
Tipalti’s features make it a great choice for businesses looking to streamline their payables and gain more control over their finances. The features include:
• Automated payments: Tipalti’s automated payment system enables you to automate payments to vendors, eliminating the need to enter payment information manually.
• Robust supplier management: Tipalti’s supplier management system allows you to manage your vendors and track payment status easily.
• Easy reconciliation: Tipalti’s reconciliation process easily reconciles payments and identifies discrepancies.
• Real-time reporting: Tipalti’s real-time reporting gives you full visibility into your financial operations.
Advantages
Tipalti offers several advantages that make it an attractive choice for businesses:
• Simplicity: Tipalti’s streamlined interface makes it easy to use, even for those with limited financial expertise.
• Efficiency: Tipalti’s automated payments and reconciliation processes save you time and money.
• Security: Tipalti’s secure payment system protects your payments and data.
Disadvantages
Despite its advantages, there are some drawbacks to using Tipalti:
• Cost: Tipalti’s pricing plans may be too expensive for some businesses.
• Complexity: Tipalti’s interface can be a bit complex for novice users.
Pricing Plans
Tipalti offers several pricing plans depending on your specific needs. The plans range from basic to enterprise level and are tailored to meet the needs of businesses of all sizes.
Tipalti is an excellent financial automation platform that puts you in charge of your payables.
With its automated payments, robust supplier management, and real-time reporting, Tipalti can help you streamline your financial operations. While Tipalti may be a bit pricey for some businesses, its features are well worth the cost.
3. FreshBooks
FreshBooks is a cloud-based invoicing and accounting software designed to help small businesses easily manage their finances. It is ideal for sending invoices, tracking time, collecting receipts and expenses, and easily accepting credit cards.
FreshBooks has emerged as one of the leading providers of accounting solutions for small businesses by offering a range of features and advantages that make it a great choice. Its cloud-based platform makes it easier for companies to keep their data secure and organized.
Furthermore, users can experience seamless collaboration with their team members, allowing them to work together on real-time projects.
Another great feature of FreshBooks is its intuitive and user-friendly interface. You can start sending invoices, tracking time, and managing receipts with a few clicks. The software also provides detailed analytics and insights to help you make the right decisions and stay on top of your finances.
FreshBooks has various features and advantages that make it stand out. However, it also has some drawbacks. For example, it does not provide a comprehensive inventory management system or a payroll solution.
In terms of pricing plans, FreshBooks offers a wide range of options to suit different budgets. Its most popular plan is the ‘Lite’ package which offers basic invoice and accounting features for a low monthly fee.
It also provides more comprehensive plans such as the ‘Plus’ and ‘Premium’ packages, including additional features such as time tracking, expense tracking, and enhanced reporting.
When it comes to FreshBooks’ competitors, face stiff competition from other cloud-based accounting providers such as Bill.com. However, FreshBooks has a range of features, advantages, and pricing plans, making it a great choice for small businesses.
4. AvidXchange
AvidXchange is an AP Automation and Accounts Payable Software that helps middle-market businesses automate the accounts payable process to boost efficiency, accuracy, and speed.
It is an excellent Bill com alternative, providing features such as automated invoice processing, vendor payment tracking, and comprehensive reporting.
AvidXchange’s features are designed to make the accounts payable process more efficient and accurate for businesses. Automated invoice processing helps companies to streamline their invoice processing and payment workflow.
Vendor payment tracking allows businesses to keep track of payments to vendors, ensuring accuracy and timely payments. Comprehensive reporting gives enterprises the insights required to measure and analyze their accounts payable performance.
AvidXchange’s advantages include its ease of use, intuitive user interface, and extensive features. With AvidXchange, businesses can reduce manual processes and errors, save time and money, and improve their accounts payable workflow.
AvidXchange also has some disadvantages. For example, it may require an upfront investment in software and IT infrastructure, which may not be feasible for some businesses.
Additionally, the system may require additional training and support to ensure that users can take full advantage of its features and benefits.
AvidXchange offers several pricing plans, ranging from basic to enterprise. The basic plan provides basic features and services, while the enterprise plan offers advanced ones.
Businesses should evaluate the features and services provided by each plan to determine which works best for their specific needs.
5. Zoho Books
Zoho Books is an online accounting software planned to help businesses manage their finances and automate business workflows. It is one of the leading accounting solutions and has a range of features that make it a great choice for businesses of all sizes.
Whether you’re a sole proprietor, a small business, or a large enterprise, Zoho Books has you covered. It helps companies of all sizes to stay organized and efficient while managing their finances.
With its intuitive interface, you can quickly and easily track your income and expenses, generate reports, and manage your accounts payable and receivable.
Zoho Books also has powerful automation features that can help streamline your processes. It can help you automate invoicing, manage inventory, track payments, and more.
Zoho Books also allows you to work collaboratively across departments and with contractors, vendors, and clients, making it easier to stay organized and connected.
When comparing Zoho Books to its competitors, like Bill.com, it is important to consider each platform’s features, advantages, and disadvantages. Zoho Books is a great choice for businesses needing basic accounting features and a great option for businesses needing more complex features.
It offers automated invoicing, inventory and payment tracking, and financial reports. It also comes with features like project management, vendor payments, and multi-currency support.
Advantages of using Zoho Books include its intuitive user interface, ability to automate workflows, and ability to help businesses work collaboratively. It also offers top-notch security features and is highly customizable.
The primary disadvantage of Zoho Books is its pricing plan. It is more expensive than its competitors, like Bill.com. However, it is worth noting that it includes many features that may be worth the extra cost.
6. Melio
Melio is an easy bill-paying service for businesses. Melio is an advanced payment platform that allows businesses to pay vendors, suppliers, and contractors exactly how they want.
With Melio, companies can pay their vendors with a check or bank transfer, which makes it a great alternative to Bill.com.
Melio is a secure payment platform that makes it easy for businesses to manage their payments efficiently and effectively. It helps companies to streamline their invoicing, costs, and reconciliation processes. This makes it easier for businesses to keep track of their finances and get paid more quickly.
Melio has many features that make it stand out from other payment solutions. It allows businesses to easily pay and get paid in multiple currencies, set up automated payment schedules, and access detailed payment reports. Companies can easily customize how they pay vendors based on their needs.
In addition to its features, Melio also has several advantages. It is secure and reliable, and it has a low transaction fee. Plus, it is easy to use and set up.
However, there are also a few disadvantages to using Melio. For example, it does not offer a mobile app, and its customer service is limited.
Melio has two pricing plans: a free basic plan and a premium plan that charges a fee for extra features. The free plan is perfect for businesses just starting, while the premium plan is great for larger companies needing advanced features.
Overall, Melio is a great payment service for businesses looking for an easy and secure way to pay and get paid. It allows businesses to pay vendors exactly how they want, and vendors get a check or bank transfer.
Plus, it has a low transaction fee and is easy to use. It is a great alternative to Bill.com and is worth considering if you are looking for an easy and secure way to pay and get paid.
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7. NetSuite
NetSuite is a powerful Payment Processing Software that allows businesses to manage their entire order-to-cash cycle quickly and efficiently.
With an integrated payment processing system, finance teams can manage their accounts receivable, accounts payable, and other financial transactions.
NetSuite is an ERP (enterprise resource planning) system that streamlines the business process and gives users the real-time data needed to make informed decisions. This software helps businesses to save time, reduce costs and maximize profitability.
The features of NetSuite include:
- An integrated payment processing system.
- Automated customer service modules.
- Customer relationship management tools.
- Enterprise resource planning.
- Business intelligence.
The advantages of using NetSuite are numerous. With this software, businesses can automatically track and process invoices, track customer relationships, and manage their accounts receivable and account payable.
Additionally, NetSuite offers real-time reporting and analytics to help businesses make the best decisions for their business.
NetSuite also offers several different pricing plans to fit any budget. There are options available for both small businesses and large enterprises.
Additionally, NetSuite offers customer service and training, so companies can get up and running quickly and easily.
NetSuite also has some disadvantages. One of the major defects is that the system is complex and can be difficult to learn. Additionally, there is a high start-up cost associated with using NetSuite.
8. Plooto
Plooto leads end-to-end accounts payable and receivable software that helps businesses get paid faster. With Plooto’s fast, easy payment solutions, companies can easily manage their accounts receivable and accounts payable processes.
Plooto is an excellent Bill com alternative with superior features to help businesses streamline their payment processes.
Plooto’s comprehensive features make it an ideal choice for businesses looking for a complete payment solution. It allows companies to send and receive payments quickly and securely.
Plooto also offers robust reconciliation capabilities and the ability to manage multiple currencies. Additionally, its intuitive user interface makes it simple to use and understand.
Plooto offers many advantages to businesses. Its fast payment processing speeds and secure payment methods allow firms to get paid faster and more securely.
Additionally, it integrates effortlessly with various third-party applications, such as accounting software. Its robust reporting capabilities provide businesses with detailed insights into their payment data.
Though Plooto is a great payment solution, it does have some disadvantages. The setup process can be a bit complicated and requires a bit of technical knowledge. Additionally, Plooto’s pricing plans can be costly compared to other payment solutions.
9. Plate IQ
Plate IQ is a comprehensive accounts payable solution that automates the entire invoice lifecycle, from digitizing invoices to paying vendors to surface statement anomalies that reconcile your books faster.
Plate IQ is an easy-to-use financial management tool that simplifies the accounts payable process. With Plate IQ, businesses can save time and money while ensuring the accuracy and visibility of their financial data.
Plate IQ offers many features that streamline the accounts payable process. With Plate IQ, users can digitize paper invoices, automate payments, and detect statement discrepancies.
Plate IQ also offers advanced reporting capabilities that monitor vendor performance and financial trends.
The features of Plate IQ include:
– Automation of the entire invoice lifecycle
– Digitization of paper invoices
– Automated payments
– Detection of discrepancies in statements
– Advanced reporting and analytics
– Vendor performance monitoring
– Financial trend analysis
Benefits of using Plate IQ include:
– Increased efficiency in the accounts payable process
– Improved accuracy with invoices and payments
– Greater visibility into financial data
– Reduced manual data entry
– Enhanced fraud protection
Along with the features and benefits, Plate IQ also has some disadvantages. Plate IQ can initially be difficult to set up, and certain features may require additional fees. Plate IQ also requires users to maintain vendor contact information, which can be time-consuming.
Plate IQ offers three different pricing plans. The Starter plan is free and includes basic features such as invoice digitization, automated payments, and analytics, whereas the Pro plan offers enhanced features such as fraud protection and statement analysis for $99/month.
The Enterprise plan includes advanced features such as vendor performance monitoring, financial trend analysis, and more for $299/month.
10. QuickBooks
QuickBooks is a smart and simple online accounting software solution to help small businesses manage their finances better. Intuit, one of the leading providers of accounting software and solutions, offers the software.
QuickBooks is one of the most demanding accounting solutions in the market, providing powerful features and a wide range of benefits that make it stand out among its competitors.
QuickBooks makes accounting easier by giving business owners the tools to manage their finances, simplifies the process of tracking expenses, and provides helpful insights into customer data, allowing for more accurate cash flow management.
QuickBooks also offers a range of features, such as bill.com integration and automated payment reminders.
One of the major advantages of QuickBooks is its affordability. There are several different pricing plans, ranging from basic to advanced, so businesses of any size can find a plan that works for them.
And with automated payment reminders, business owners can avoid late payments and keep their finances in order.
Regarding the features offered by QuickBooks, the software has plenty to offer. It provides comprehensive invoicing and billing tools, which make it easy to create and send invoices and check payments.
It also features an expense tracking system to help businesses better understand how their money is being spent. QuickBooks also offers a range of customization options, allowing users to personalize their accounting experience.
However, QuickBooks also has some disadvantages. For example, the interface can be somewhat difficult to navigate, and it may take some time to get used to the software. Some of the features may also require additional fees, which can add up over time.
Conclusion
Choosing the right financial solution for your business can be difficult, so it’s important to research and compare the features and benefits of the top 10 bill.com competitors before deciding.
With the right financial solution, your business can streamline its processes, save time and money, and stay on top of its finances in 2024.
Ultimately, it is important to evaluate the features and costs of each of these competitors to ensure that the best one is selected for your business. Making the most informed decision is the key to a successful and efficient company.