January 31, 2024
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Bill.com is a popular accounts payable solution used by over 100,000 small and mid-sized businesses across many industries. Its cloud-based platform helps companies digitize and streamline payables workflows.
Who uses Bill.com and why
Bill.com appeals to SMBs thanks to its easy setup, scalability, and an array of AP features like invoice capture, approvals, payments, and reporting. It eliminates tedious paper-based processes so companies can approve and pay invoices faster.
Key benefits of Bill.com include:
- Faster invoice processing compared to manual methods
- Mobile app for approvals and payments on-the-go
- Integrations with leading accounting software
- Secure online payment options, including ACH, cards, and checks
- Custom workflows and approver routing
- Standard AP reports and analytics
Integrating with Vic.ai and push beyond automation
While Bill.com offers digital AP capabilities beyond paper, it still requires users to enter and code invoice data manually. This is where AI-powered solutions like Vic.ai come in. Vic.ai integrates seamlessly with Bill.com to add a further automation layer through its artificial intelligence. Vic.ai analyzes invoices and extracts all key details without templates or rules. It predicts correct GL codes with over 99% accuracy.
Combining Vic.ai's autonomous data capture with the Bill.com ERP provides the best of both worlds:
End-to-end touchless processing - Invoices flow through approvals and payment without any manual handling
Unparalleled accuracy - Vic.ai's AI ensures clean, coded invoice data flows into Bill.com
Speed and efficiency - Invoice handling time reduced by up to 90%
Real-time visibility - Gain insights into cash flow and AP performance
Continuous Improvement - Vic.ai's AI gets smarter over time, increasing automation
By integrating Vic.ai and Bill.com, growing companies can upgrade from basic AP automation to true lights-out processing powered by artificial intelligence. This empowers employees to focus on strategic tasks while streamlining back-office financial workflows.
Vic.ai Payments vs Bill.com
Vic.ai Payments and Bill.com both offer versatile payment types including Check, ACH, Virtual Card, and International Wires. Unlike BILL, Vic.ai Payments supports Foreign Bank to Foreign Bank Payments.
Implementation timelines vary, with Bill.com offering out-of-the-box self-serve implementations and Vic.ai Pay takes a more hands-on approach in vendor payment onboarding, managing the transition to electronic payments and campaigning for vendor conversion, a process partially owned by the customer.
Both platforms have virtual card programs, but Vic.ai Payment's network is more mature, offering greater rebate opportunities. Vendor support services are similar, providing free accounts and support for ACH or virtual card transactions. Pricing models also differ; Vic.ai Payment's services are included in the Vic.ai subscription, excluding cross-border wires, contrasting with Bill.com's separate pricing structure. Vic.ai also doesn't charge any U.S. payment transaction fees.
To learn more about integrating Vic.ai with solutions like Bill.com, watch a quick demo or contact our team today.
