Rene Lacerte: Firms Leveraging Bill.com See a 75% Time Savings and Can Re-task Billable Personnel

Bill.com CEO/founder says firms need to target all of a client's day-to-day operations

Why are some many CPAs going “paperless?”

 

The profession is always evolving, and firms are now realizing that they cannot rely on writeup and tax work alone. They need to become a value-added resource during all day-to-day operations. Exchanging bills and contracts in a shoebox, and printing and exchanging checks with clients is inefficient, non-scalable, and risky. The only solution is to go paperless and do it in such a way that the client can take much of the burden and not just transfer the paper madness to the firm.

 

How does Bill.com help firms make more money?

 

First, we provide new revenue opportunities for firms who previously were not able to offer profitable bill payment / AP services. For firms offering these services with Bill.com, we’ve heard of them saving upwards of 75% of the internal time it takes to handle client bill payment activities. That savings goes directly to the bottom line, especially when they charge a fixed fee for services. It also allows firms to take on more clients or re-task highly billable personnel to other strategic activities for their clients.

 

What’s “the next big thing” in “paperless?”

 

Elimination of data entry. Through better scanning capabilities as well as services such as Bill.com, we are quickly getting to the point where the firm and client will not have to worry about typing any information from an invoice. Firms will instead focus on more important activities such as managing cash flow and the overall business.

 

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.