Bill.com announced plans for a partnership with Intuit Inc. (NASDAQ: INTU), QuickBooks’ parent company, at the QuickBooks Connect Conference held this week in San Jose, Calif. The partnership will bring digital payments into QuickBooks Online and offer seamless online bill pay.
“By building Bill.com’s trusted bill pay network inside of QuickBooks Online, millions of small business owners can now manage bill pay from start to finish right within QuickBooks ,” said René Lacerte, CEO of Bill.com in a press release announcing the partnership.
Details of the QuickBooks and Bill.com Integration
With Bill.com’s support, Intuit will be able to offer a central home for small business accounting and bill pay needs to many of the software company’s 1.5 million QuickBook customers, including small businesses. This integration now means that businesses in the U.S. can pay bills to anyone (large or small suppliers), using the Bill.com payments network, and manage cash flow within QuickBooks, said the firms.
Specifically, the new integration will offer small businesses the opportunity to:
- Simplify Bill Pay: Manage electronic payments end-to-end within QuickBooks, including the option to mail checks. The integration delivers a digital bill pay experience within QuickBooks, eliminating the need to manually sync between accounting and bill pay.
- Improve Cash Flow: Keep track of paying your bills all within QuickBooks and gain better insight into cash flow at any time with online bill pay.
- Join a Much Larger Business Payments Network: Connect with over 1.4 million members already in the Bill.com network for faster and low-cost payments.
- Take Advantage of Seamless Reconciliation: Transactions are tracked and automatically reconciled with QuickBooks, including ACH authorizations and cleared check images to protect against fraud — eliminating steps for small business owners and providing up-to-date cash flow insights for the business.
“Our integration with Bill.com is being created with this in mind — to give business owners an easy-to-use, centralized solution to better manage their cash flow,” added Vinay Pai, vice president and head of Intuit Developer Group, in the press release.
The move seems part of a trend to create more seemless transaction options within digital bookeeping and accounting software.
For example, last year, accounting software company Xero (NZE:XRO) announced expanding integration with PayPal, rival QuickBooks seems also to be pursuing integrated transaction options for users of its platform. Though in Xero’s case the integration was centered more around a “Express Checkout” service allowing users to more easily accept payments wiithin the software.
Image: Rene Lacerte/Twitter