Is Bill.com the Best Choice For You?
Have you been reluctant to implement Bill.com's financial software package due to concerns about the sensitive nature of the data you supply and the level of security in which it will be maintained? According to Fiserv, a financial services provider that handles 6 million merchants globally managing 1.4 billion global accounts on file that produces 12K financial transactions per second, and manages over 10K financial institution clients, 89% of new customers surveyed cited security breaches as their number one issue preventing them from using their services.
Let's look at Bill.com and then show you a fast, easy, and successful way to set up solutions from DoNotPay.
What is Bill.com
Bill.com is a cloud-based financial services provider for more than 170 small to medium-sized businesses across the globe. According to a May 6, 2022 review of Bill.com on Merchant Maverick, Bill.com received the following ratings on a 5-star scale.
One rather odd feature of Bill.com is when you sign-up you have to select an accounts payable or accounts receivable software package.
With accounts payable you get;
- Ability to pay bills
- Ability to set up automatic or recurring payments
- Vendor management/credits
- Send bills for authorization
With accounts receivable you get;
- Ability to send invoices
- Ability to set up recurring invoices
- Receive online payments
- Manage items/credit memos
Bill.com's pricing structure is set up (which we will see below) with the only way to get accounts payable and receivable together is with their top-tier pricing plans. Many clients felt this to be one of the cons of the Pros and Cons comparison.
How Much Does Bill.com Charge for Their Services?
Bill.com will allow you to run a 14-day trial for free without having to provide any credit card information. This will give the prospective client just enough time to distribute the financial services Bill.com offers for free and then put that same client in need of paying for the service to collect money coming in. Any company that operates a significant AR and AP financial platform needs at least a 30-day trial to cover every aspect of money coming in and payments going out. Have you ever seen a customer or vendor operate on a 14-day basis?
Here is the breakdown of the pricing tiers for Bill.com;
|Plan||Price||When To Use|
|Essentials||$39/month per user||If you need basic accounts receivable or payable features|
|Team||$49/month per user||If you need basic accounts receivable or payable features and accounting software integrations|
|Corporate||$69/month per user||If you need a combined accounts receivable and payable solution|
|Enterprise||Variable||If you need a combined accounts receivable and payable solution with API access|
And here is the breakdown of any associated costs and fees;
|ACH Bill Pay||$0.49/payment|
|Pay Bills By Check||$1.69/check|
|Receive ACH Bill Payments||$0.49/payment|
|Mail Paper Invoice||$1.49/invoice|
|Automatic Bill Information Entry||0.49/entry|
|Discounted Approver-Only User Pricing||$25 (Corporate plan only)|
|Same or Next Day ACH Payments||$9.99/payment|
|Two Day Checks||$14.99/check|
|Three Day Checks||$9.99/check|
Bill.com's fees can add up quickly if your company sends out a lot of payments through this service.
What Does Bill.com Do for Data Security
Bill.com does a very basic form of data encryption and firewall protection. That being said they are PCI DSS compliant using redundant servers storing and backing up data in two secure facilities.
Here are the security features;
- Security for Financial Institutions Compliant
- Dual factor authentication
- TLS (Transport Layer Security)
- Physical Security Measures
How is Bill.com's Customer Service?
If you are having issues with Bill.com's service and need to speak with someone, good luck! There is no phone number or support available from Bill.com the only support being live chat which is only staffed during regular business hours Monday through Friday. In this Merchant Maverick review, Bill.com received a poor rating for customer service.
Here are the customer service features;
|Support Option Availability Phone Support||No|
|Dedicated Support Rep||No|
|Videos & Tutorials||Yes|
Negative Issues from Bill.com
- Does not sync well with other services
- Poor customer service
Positive Issues from Bill.com
- Saves time
- Easy to use
Now, with all of the above information you can see that if you are a small start-up or a sole proprietor, Bill.com is far more time-consuming and confusing than it is beneficial. If your business is a one-man operation and all you want to do is set up your outgoing payments with an automatic payment solution provider Bill.com is not what you need.
The good news is you can do exactly that and more with DoNotPay.
One thing that will benefit your start-up is the ability to negotiate payments when every penny is precious. Let's show you how to do just that without the need of subscribing to a large financial service provider.
How to Use DoNotPay to Get The Lowest Possible Payment and Free-Up Valuable Resources
Whether your small business is new, or you have been in business for years, one thing is certain, you need more money coming in than going out. One way to reduce your business expenses is by negotiating with the person or company you owe.
DoNotPay was designed to level the playing field and give you the fair advantage you may have never had when approaching your monthly and recurring expenses. With DoNotPay doing the heavy lifting for you, you now have the ability to do that, here's how.
- Go to the Negotiate Bills product on DoNotPay.
- Choose whether you want us to call and negotiate your bill for you or send a bill negotiation letter on your behalf.
- Provide the details that will help us negotiate your bill including the company name and how much your current plan costs.
- Enter your contact information, including email, address, and phone number.
And that's all there is to it! Spend your valuable time growing your small business and not paying bills all the time! With DoNotPay at your side as a business partner, you have the fast, easy, and successful solution to many financial issues at your fingertips 24/7-365.
What Else Does DoNotPay Do
In this case, we provided you with a review of a potential financial service provider that may become beneficial years down the road. While that may or may not come to pass, DoNotPay focuses on what we can do for you and your small business today, all with the transparency you would expect from a business leader.
Take a look at some other issues DoNotPay can successfully navigate you through should these things pop up from time to time.
- Reviews on Experian Credit Score Boosts
- Review your Free Equifax Credit Report
- Formswift Reviews
- LifeLock Reviews
- FastWeb Reviews
See how DoNotPay can negotiate lower bills for your start-up business today.