Streamlining B2B Payments with Vendor Pay by Bill.com

Vendor Pay by Billcom offers businesses an efficient way to manage accounts payable and automate payments to suppliers. This robust platform integrates seamlessly with American Express to provide a complete payables solution

Overview of Vendor Pay

Vendor Pay is an automated accounts payable system created through a collaboration between American Express and Bill.com. It allows companies to simplify and optimize their process of paying invoices and bills from suppliers.

Key features include

Pay bills via virtual card, ACH or check
Import bills and invoices
Approve bills for payment
Sync with accounting software
Receive customer payments

Vendor Pay aims to save businesses time, enhance visibility, and boost working capital. It provides tools to control spending, streamline workflows, earn rewards, and gain reporting insights.

Benefits of Vendor Pay

Utilizing Vendor Pay delivers a range of advantages:

Efficiency

Automate manual processes with electronic workflows
Import bills instead of paper/mail invoices
Route invoices for approvals and coding
Pay bills in a few clicks via virtual card

Control

Set user permissions and spending limits
Pay bills on customized schedules
Expiration dates on virtual cards
Sync accounting system for oversight

Cash Flow

Pay suppliers with a credit card
Extended time to pay compared to checks
Optimize working capital and buying power

Rewards

Earn points, miles or cash back on payments
Rewards on every supplier paid via virtual card

Reporting

Custom reporting on payables data
Reconciliation and accounting integration
Export reports to share insights

Security

Virtual card numbers instead of real ones
No vendor storage of payment details
Robust platform security protections

Paying Suppliers Through Vendor Pay

Vendor Pay facilitates making payments to your suppliers and vendors in a few quick steps:

Bill Import

Email invoices directly to Vendor Pay
Upload PDF bills via drag and drop
New bills auto-sync from integrated accounting

Approval Workflow

Submit bills for internal approval routing
Code invoices, add details, include messages
Manage approvals with permissions pre-set

Payment Processing

Pay bills by virtual card, ACH, check
Schedule payments for future dates
Partial and full payments supported

Reconciliation

Payment reporting for all methods
Sync transactions to accounting system
Automated bill coding for seamless matching

Integration with Accounting Systems

A key benefit of Vendor Pay is the ability to integrate with popular accounting platforms like QuickBooks Online, Xero, NetSuite and Intacct.

This allows seamless syncing of supplier invoices, bills, and payments between the accounting system and Vendor Pay. Automated sync eliminates duplicate data entry and provides greater visibility into payables.

Robust accounting integrations enhance oversight and reconciliation while reducing manual processes. This saves significant time and cost.

B2B Payment Options with Vendor Pay

Vendor Pay supports making supplier payments through:

Virtual Card

Generated unique virtual card number
Ideal for recurring payments or single purchases
Supplier processes as regular card payment

ACH Payments

Electronic bank transfers from linked bank account
Lower transaction cost option
Better for higher value invoices

Paper Checks

Printed checks mailed to suppliers
Integrated with mailing services
Supports suppliers not taking electronic

Businesses can select the optimal payment method for each supplier, based on their preferences and purchase details. This flexibility ensures paying bills is efficient.

Vendor Pay Plans and Pricing

Vendor Pay offers three plans depending on business needs:

Basic

1st user free, 2nd user free 6 months
Additional users $15/month

Advanced

$59 per user/month
Accounting sync, approvals, reporting

Advanced Plus

$99 per user/month
Enterprise accounting integrations
$1500 one-time implementation

Transaction fees apply for ACH and check payments. Virtual card payments using an American Express Business Card earn points or cash back on supplier spend.

Getting Started with Vendor Pay

Signing up for Vendor Pay is simple – just follow these steps:

Visit VendorPay.com and enroll
Confirm your verification email
Complete company profile
Link bank account and/or AmEx card

Once your account is activated, you can begin importing bills, setting up workflows and making payments to streamline your payables process.

Automating Payables Through Bill.com

Vendor Pay utilizes the powerful Bill.com platform to provide end-to-end accounts payable automation. This intuitive interface makes it simple to optimize workflows.

Bill.com integrates seamlessly with American Express virtual card payments. Businesses can easily access the benefits of accounts payable automation combined with the power, security and rewards of the American Express network.

Vendor Pay offers an easy way to manage the payables process from purchase to payment, all from one central dashboard. Simplify and automate how your business handles B2B payments and invoice management.

Vendor Pay By Bill Com

First user: no monthly fee

Manage payables and receivables all in one place
Pay your bills from one easy interface
Use your Business or Corporate Card to send virtual payments to vendors who accept American Express® Cards
Invoice customers and receive electronic payments
Import bills via email or drag-and-drop – and eliminate paper
Export data for reporting and reconciliation

Per user per month

Everything from Basic plus automated workflow and syncing with your accounting software
Eliminate double data entry by syncing accounting software with QuickBooks® and Xero
Automate and track bill approvals
Generate robust reports
Customize roles and permissions for multiple users
Get approval-only access for an additional $10 per user per month

Billl.com – Paying Vendor Bills

FAQ

Is Bill com free for vendors?

Simply provide some basic information about your business and bank account. If you’ve received an invitation from your customer to be paid through BILL, the service is subscription-free. You can choose to upgrade to an advanced plan if you’d like to use BILL’s full-service Payables and/or Receivables services.

What is vendor pay on my bank statement?

A vendor payment is a financial transaction that compensates a vendor for goods or services rendered to a company. This transaction usually follows the delivery of requested goods or the completion of the services provided.

How does Bill.com verify vendors?

Enter the vendor’s bank information manually If the vendor gives you their bank information, you can manually enter it into their vendor record within BILL. The bank account immediately shows that it’s a verified status.

What is vendor pay?

Vendor Pay is specifically designed for the American Express small business customer. Vendor Pay includes the complete cloud-based BILL platform, automating the way the small business customer pays bills, sends invoices, and gets paid.

Does bill pay by card work on vendor pay?

BILL’s Pay By Card, which allows payment with any US credit or debit card for a 2.9% fee, is not available on Vendor Pay. What is a Virtual Account Number (VAN) in Vendor Pay?

What is vendor pay & how does it work?

In one simple online dashboard, Vendor Pay allows American Express Business and Corporate Card Members to pay their company’s bills with more control and visibility over the AP process. It also provides enhanced security through the use of unique, single-use virtual account numbers with their existing Business or Corporate Card.

How do I sign up for vendor pay?

Card Members must sign up for Vendor Pay and enroll the Card for payments by going to www.americanexpress.com/vendorpay. Not all suppliers may accept American Express virtual payments. The Basic plan has no monthly fee for the first user and no fee for a second user for six months from when the first user signs up.

How do I connect a vendor to Bill?

If your vendor is already using BILL to receive payments electronically, ask them for their Payment Network ID and enter it manually into their vendor record to connect. Once you have your vendor’s Payment Network ID (PNI), cancel any pending invitations, and add the PNI to the vendor’s details in your account.

Who owns vendor pay?

In addition to partnering with Bill.com to create Vendor Pay, American Express’ corporate venture capital arm, Amex Ventures, is a long-time financial investor in Bill.com. More details about Vendor Pay, including sign up information, are available at www.americanexpress.com/vendorpay.

What is vendor billing?

Vendor billing is the accounts payable process of paying companies who have provided you with goods or services. When running smoothly, this process supports trusting relationships with your vendors and ensures you are not over or underpaying any bills or missing due dates.