Wells Fargo announced new business solution for SMEs

Partnering with Bill.com addresses critical customer needs – consistent bill management and payment

Wells Fargo business

Wells Fargo announced new business solution for SMEs. Source: pexels.com

Bill.com, a cloud-based software provider, and Wells Fargo announced a new joint Bill Manager solution. It helps automate and shorten the calculation process of accounts payable and receivable for small and medium enterprises.

Bill Manager integrates Bill.com’s cloud-based financial transactions software with Wells Fargo’s digital banking service, the Commercial Electronic Office. It makes a paperless way for enterprises to pay bills and receive payments with simple and under control.

According to the report, over 90% of SMEs send and receive paper invoices, which takes time, manual effort, and has fraudulent risk. These problems are further compounded by today’s teleworking operations due to the pandemic.

With Bill.com’s Intelligent Virtual Assistant, companies can automatically collect and enter all the needed data from any type of invoice. Customers can also demand payments through Bill Manager by creating and sending their clients’ e-invoices. Meanwhile, payment reminders aid them to get paid quicker through a customer-branded payment portal.

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