Thomson Reuters Welcomes Preferred Partner Bill.com
Thursday, November 5, 2009
Posted by: Boomer Consulting, Inc.
Online bill management helps clients stay organized, improves write-up for accountants
The Tax & Accounting business of Thomson Reuters announced recently that it has joined with Bill.com to offer CS Professional Suite® accountants and their clients a new way to handle bill payment workflow.
Based in Palo Alto, Calif., Bill.com is a Web-based service that automates time-consuming bill workflow, bill payment, and business document filing tasks while keeping information synchronized with popular accounting systems.
This alliance with Bill.com makes it easy for CS Professional Suite users and their clients to manage client bookkeeping and make payments online,” said Scott Fleszar, senior director of Strategic Marketing for the Tax & Accounting business of Thomson Reuters. “Our customers’ clients get a simple web-based interface for managing bills and collaborating with their accountant, while the audit trail and integration with our CS Professional Suite software make it easy for our accountants to provide their clients with accurate financial reports and advice—and make much of the bill payment process paperless.”
Anyone—vendors, employees, or other individuals—can be paid electronically through the Bill.com service. Clients of CS Professional Suite users simply scan, fax, or email bills, contracts and other financial documents directly to the secure Bill.com account they share with their accountant.
The accountant can instantly access the digital images, route them for approval, and schedule them for electronic payment. The data from the transactions can then be imported directly into Thomson Reuters Write-Up CS®, which greatly reduces the chance of input errors.
This process eliminates the need to store, print, sign, and mail checks, plus it helps clients manage their cash flow more easily and avoid costly mistakes. Because documents related to financial transactions performed through Bill.com are simple to store, track, and retrieve, it’s also easier to remain in compliance with current record-keeping regulations. 256-bit encryption technology—comparable with the technology used by online banking sites—and advanced security and process controls ensure that data is secure at all times.
"We are extremely excited about our new integration with Thomson Reuters CS Professional Suite because it makes it easier and more efficient for firms to perform write-up," said Renė Lacerte, CEO and Founder of Bill.com. "Even if an accounting firm is not handling client bill payment they can improve their results and take on more clients by recommending that their clients use BIll.com. Their clients will be better organized, have a better payables process, and send the firm less paper. The firm benefits from significantly reduced data entry, reduced data errors, and better access to source documents for reference and audits."
For more information on Bill.com’s automated bill payment system for Thomson Reuters users, go to Bill.com/ThomsonReuters.
About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in over 100 countries. For more information, go to ThomsonReuters.com.
The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax, and corporate finance professionals in accounting firms, corporations, law firms, and government. Tax & Accounting includes the Professional Software & Services, Corporate Software & Services, and Research & Guidance business groups.