Today’s increasingly interconnected world is one where cloud-based platforms are becoming integral to business. In terms of back office business operations software, Bill.com is perhaps the most prominent name out there. However, there are many other options that could be a great fit for your small or mid-sized business. Let’s take a look at some of the top Bill.com competitors and alternatives.
One of the highest performing Bill.com competitors is Tipalti, an accounting software that shares many features with its competitor including payment processing, accounts payable functioning, billing, and invoicing. Tipalti also stands out by providing a strong audit trail and easy methods for searching or filtering. It can also be utilized with money exchanges, allowing for billing across different currencies.
Tipalti is a trustworthy option for small businesses as it provides a wealth of functions for a fairly affordable starting price point that can be scaled up based on specific needs. While there are many Bill.com alternatives, Tipalti has established itself as one of the brightest options in this sphere.
NetSuite is designed with the goals of increasing cash flow and reducing costs. It provides an excellent option for small to mid-sized manufacturing companies in particular. The platform itself provides end-to-end visibility to improve efficiency and integrates into virtually any standard backend financial software.
This software is particularly useful for organizations that are experiencing rapid growth as it is excellent for automating processes to reduce the amount of manual tasks that are performed. It also provides excellent reporting options, allowing organizations to truly harvest data in order to make on the spot decisions backed by evidence.
Accounting Seed provides a great all-around option that is useful with virtually any type of business. Due to the extensiveness of this product, it likely has more features than small businesses need. However, businesses experiencing a great deal of growth or those that are well established with many clients will surely find its features to enhance their financial operations. The company specializes in customizing each software package to the individual business, meaning you won’t be settling for a one size fits all implementation.
This software allows the creation of custom e-mail templates, purchasing forms, and other features. It also has built in connections to nearly 15,000 companies and banks, allowing easy to configure and automatic ACH payments. The format allow managing of purchasing, accounts payable, and credit cards with just a few clicks. It is also easy to navigate, meaning it will take less training to learn than many other options.
This cloud-based software provides one of the most complete solutions for back-end financials. Sage Interact particularly excels in its methods of financial reporting, putting a wealth of data just a few clicks away from the CFO. It also provides a way to automate many processes, with the goal of helping organizations become less reliant on spreadsheets and get greater insight into their financial performance.
Sage Intacct is also known for its excellent support including 24/7 access to live reps. While this is one of the most comprehensive Bill.com alternatives available, it is also one with a fairly steep price point. This is definitely a factor that businesses will want to consider before deciding whether it is a great fit for their financial needs.
SAP Concur Expense
SAP is well known for their enterprise resource planning software, so it is no surprise that they are on this list for their finance systems. SAP Concur Expense provides a completely connected spending management solution that can track travel, expenses, invoicing, compliance, and risk. It is particularly known for its expense reporting and accounts payable aspects. Additionally, SAP provides many other products ranging from human resources to production planning.
SAP Concur Expense is a good option for companies of any size. Its expanded product library allows for complete solutions for the operations of large Fortune 500 companies while its affordable price point allows it to be a feasible solution for even small businesses. Additionally, the software is scalable, allowing it to grow as your business does.
For smaller companies that feel that there are not many options designed for their needs, AirBase provides an intriguing option. This cloud-based software is specifically designed with the needs of small to mid-sized businesses in mind. The automation of processes provides real time reporting. As a whole, the software combines accounts payable, corporate card programs, and employee expense reimbursements into an overarching system with the goal of improving functionality.
This is a great software for financial areas that want to free up more time to focus on proactive management instead of reactive oversight and reporting. It helps supplement financial decision-making and provides enhanced abilities at budgeting and forecasting.
InvoiceWorks is a great option for companies looking for fairly simple software that meets their needs with billing. It contains accounts payable and receivable as well as the option for hourly billing. This is a very good software for small businesses, particularly those who provide billed services.
The major drawback of InvoiceWorks is that it does not provide many of the features seen in other products such as forecasting, integration to third party software, or recurring invoicing. Thus, it is more of a billing software than an all-encompassing financial option. Still, it is a great option for automating accounts payable.
Minimum Monthly Cost of Bill.com and Competitors
|Software||Software Minimum Price|
|Bill.com||$39/month per user|
|InvoiceWorks||$3/month per user|
While Bill.com is clearly one of the biggest names in back-end financial management systems, there are also many alternatives on the market. Which one is the best? That honestly depends on your specific business and needs.
As can be seen, each products has its own features, strengths, and limitations. Evaluating your goals for a financial system is an important first step in beginning to evaluate potential software systems that are available. An organization seeking to purchase a financial system should consider goals, features, ability to integrate with other systems, initial cost, and recurring subscription cost in making a decision.