BILL software development company, together with the Bank of Montreal (BMO), has launched a platform for paying bills/invoicing.
The new product is called BMO Bill Connect. The cloud platform provides customers with more visibility and control over their financial transactions. This is stated in the joint press release of the company and the financial institution, which was published on March 9.
The platform offers comprehensive services for settlements with creditors and accounts receivable. This product was developed to work with accounting software such as QuickBooks and Xero. Businesses receive tools for tracking invoices and payments.
Irana Vasti, BILL’s product director, says that small businesses need constant access to their finances. This access allows you to save time and control cash flows.
Irana Vasti stated that the new digital-based payment and billing platform helps businesses improve efficiency and focus on what matters most.
BILL CEO Rene Lacert said in February that the demand for digitization of back-office operations for small and medium-sized businesses is showing steady growth. Through digitization, business representatives hope to mitigate the impact of the global negative factor in the form of general uncertainty in the global economy.
Cloud-based software tools that help enterprises automate back offices by integrating traditionally disparate processes into digital platforms are increasingly being used by small and medium-sized enterprises to eliminate problems arising from outdated paper and manual systems.
Rene Lacert says that his company’s solutions help more than 400 thousand enterprises manage financial operations, providing enhanced control capabilities. He is also convinced that digital transformation is a global trend, not a choice of individual firms.
As we have reported earlier, Amazon Business App Adds Purchase Reconciliation Tool for B2B Buyers.