BILL ties up with BMO to streamline business payments and invoicing

By Gloria Methri

BILL, the provider of financial automation software for small and midsize businesses (SMBs), has partnered with BMO to digitize and streamline business payments. BMO Bill Connect, powered by BILL, is a payment and invoicing platform that helps customers pay and get paid in a simpler, faster, and more secure way.

BMO Bill Connect, the cloud-based platform gives customers more visibility and control over their financial operations. It offers end-to-end accounts payable and receivable services and is specifically developed to work with accounting software, including QuickBooks and Xero. It streamlines the accounts payable process, enables e-payments, and offers invoice and payment tracking capabilities.

“Small businesses need real-time insight into their finances to save them time, and have greater visibility and control over their cash flow,” said Irana Wasti, Chief Product Officer at BILL. “Our digital-first payments and invoicing platform helps businesses improve efficiencies and focus on what matters most. As a company that champions small businesses, we are thrilled to bring BILL’s capabilities to BMO, so we can support their customers across the US, and help their businesses to thrive.”

Key benefits of BMO Bill Connect include:

• Increased Efficiency: Small businesses can get paid and pay bills faster by automating payments, digitizing invoices, and eliminating check writing, signing, stuffing envelopes, and mailing.
• Better Visibility: Small businesses can better manage cash flow and view all incoming and outgoing payments on a single dashboard.
• Enhanced Control: Customers can reduce fraud risk and improve transparency into the status of physical checks paid through the platform and get Positive Pay Protection automatically.

Niamh Kristufek, US Head of Business Banking at BMO said, “Through this important partnership with BILL, we are making it easier and more convenient for our customers to manage their businesses. By embedding the platform directly within the BMO Digital Banking experience, customers have a safe, convenient, and centralized solution for cash flow management.”