Xero unveils online bill payment option for U.S. small and medium businesses, powered by BILL.
Xero, the global small business platform, has announced a strategic partnership with BILL, a financial operations platform for small and mid-sized businesses. Through this collaboration, Xero is offering its US customers new bill payment capabilities, aiming to make financial automation and cash flow management easier.
The new service, powered by BILL, allows Xero users to make batch payments, enabling them to pay multiple vendors in a single transaction within the Xero platform. This integration simplifies and upgrades users’ payment workflows by consolidating vendor payments directly from Xero.
In addition to batch payments, the partnership with BILL brings several other enhancements to Xero users. These include improved management of payables and receivables on the go through the BILL AP & AR app. Users will also benefit from detailed payment tracking with visibility into ACH payment statuses such as scheduled arrival dates, processing dates, and payment errors.
Moreover, the redesigned payment portal provided by BILL highlights payment due dates and methods clearly, making monthly bill payments simpler and more intuitive. All these features aim to streamline bill payment processes and provide real-time status updates on payments within a unified workflow inside Xero.
Diya Jolly, the chief product and technology officer at Xero, is involved in the partnership. She stated that the new US online bill payments offering, powered by BILL, will ease the administrative burden for Xero customers and streamline their bill pay processes.
Ariege Misherghi, senior vice president and general manager of AP, AR, and accountant channel at BILL, is excited about the partnership. She believes that it will provide small businesses and accountants with improved visibility, control, and efficiency over their cash flow.
It's worth noting that a recent report by Xero, 'I want to pay that way', found that 48% of US small businesses experienced cash flow pressures over a 12-month period. The new service is designed to address these challenges by offering a more efficient and streamlined bill payment solution.
Xero is also partnering with US small business banking platform Bluevine in addition to the partnership with BILL. This collaboration further strengthens Xero's commitment to providing small businesses with the tools they need to manage their finances effectively.
In other news, Mike Cascone, vice president, government experience, Americas at Xero, is speaking at Open Banking Expo Canada on June 17 in Toronto. This event provides an excellent opportunity for Xero to showcase its innovative solutions and share insights on the future of small business banking.
The new bill payment capabilities are now available to all Xero small business customers in the US. With these enhancements, Xero continues to demonstrate its commitment to empowering small businesses to thrive by providing them with the tools they need to manage their finances effectively and efficiently.
- The strategic partnership between Xero and BILL offers Xero's US customers new open banking-powered bill payment capabilities, aiming to make financial automation and cash flow management easier.
- Through this collaboration, Xero users can now make batch payments, enabling them to pay multiple vendors in a single transaction directly from Xero's platform.
- The improved payment management features provided by BILL also include detailed payment tracking, clear presentation of payment due dates, and methods, as well as improved visibility into ACH payment statuses.
- Diya Jolly, the chief product and technology officer at Xero, stated that the new US online bill payments offering, powered by BILL, will ease the administrative burden for Xero customers and streamline their bill pay processes.
- At the Open Banking Expo Canada in Toronto on June 17, Mike Cascone, vice president of government experience at Xero, is speaking about the future of small business banking and showcasing Xero's innovative solutions.
