Online bill payments for U.S. Small and Medium Businesses (SMBs) are now a reality thanks to Xero's integration with BILL.

Online bill payments for U.S. Small and Medium Businesses (SMBs) are now a reality thanks to Xero's integration with BILL.

In a significant move to streamline bill payments for small and mid-sized businesses in the US, accounting software giant Xero has partnered with BILL, a fintech company known for its extensive network of 7.1 million members. This strategic alliance aims to make financial automation and cash flow management easier and more accessible for Xero customers.

The partnership, announced in February 2024, enables Xero's new online bill payments. Businesses can now manage their payments all in one place, making it easier to keep track of due dates, manage multiple bills at once, and pay using various methods such as ACH, checks, wire transfers, and credit cards (including virtual cards), supporting both domestic and foreign transactions.

Key benefits of the Xero-BILL partnership include automated invoice capture and searchability, flexible, remote approvals, multiple payment options and currencies, deep connectivity and synchronization, and enhanced payment visibility. Electronic invoice capture simplifies administrative tasks, while remote approvals enable employees to manage workflows remotely. The wide range of payment methods and vendor-preferred currencies facilitates both local and cross-border payments.

BILL's synchronization with Xero automates data flow, reducing manual data entry, boosting reconciliation speed, and improving financial accuracy. Improved payment tracking in BILL shows detailed statuses of ACH payments and alerts to any errors needing attention, helping businesses maintain tight control over their cash flow.

Ariege Misherghi, senior vice president and general manager of AP, AR and accountant channel at BILL, expressed his excitement about the partnership. Diya Jolly, the chief product and technology officer at Xero, stated that the new US online bill payments offering will ease the administrative burden for Xero customers. Jolly also emphasised the importance of managing accounts payable when thinking about small business cash flow, a factor often overlooked.

According to a recent report by Xero, 48% of US small businesses felt some cash flow pressures over a 12-month period. The report further showed that 20% of small businesses cited not being able to manage and pay bills in one place as a challenge, while 38% faced challenges keeping track of due dates. The Xero-BILL partnership aims to address these issues, providing a solution that helps businesses pay bills efficiently and manage their cash flow more effectively.

The partnership between Xero and BILL will not only streamline processes but also give small businesses and accountants more visibility and control over their cash flow. This service is accessible to all Xero small business customers in the US, and they can track the status of all bill payments made from Xero. With this new offering, Xero continues to demonstrate its commitment to helping small businesses thrive by providing them with the tools they need to manage their finances effectively.

1. The partnership between Xero and BILL, announced in February 2024, introduces new online bill payments for small businesses, allowing them to manage all payments in one place.
2. This alliance aims to simplify the process of financial automation and cash flow management for Xero customers, with benefits including automated invoice capture, remote approvals, and a wide range of payment options.
3. BILL's synchronization with Xero automates data flow, reducing manual data entry, improving reconciliation speed, and enhancing financial accuracy.
4. Improved payment tracking in BILL shows detailed statuses of ACH payments and alerts to any errors, helping businesses maintain tight control over their cash flow.
5. With this partnership, Xero continues to demonstrate its commitment to helping small businesses thrive, by providing tools that streamline processes, increase visibility, and give businesses more control over their finances.

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