why startups fail and how yours can succeed
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And now for a few words on that most painful yet critical of startup topics, billing and payments!
Working on billing and payments feels incredibly far from strategic objectives like product and sales. Itвs not something that differentiates one company from another. And yet itвs critical to the ongoing operations and success of a business. Most recently, a company Iвm closely involved with starting using Bill. com. The company was really looking for was a simple way to pay everyone electronically, which seems straight-forward enough. First up were the services offered by the bank. Everything had to be manually entered into the bank web site and then syncвd to QuickBooks. Plus, the mechanisms for synchronizing with QuickBooks required a download andв well, that was enough of that. Soon came Bill. com. Hereвs what I love: Hereвs what I hate: - No way to run payroll right from within Bill. com. This has to be done separately. No problem if you have hundreds of employees, but a real PITA if you only have a few. - Signup is confusing for vendors because the site is terse on instructions and next steps. - Roles are limited.
Suppose I want to have someone enter bills to be paid, but not have visibility into other bills that have been paid. Thereвs no easy way to do that. And just finding where to setup new roles is hard to do. - No easy import function. Canвt upload a CSV or Excel file with items to be paid. - Every bill has to be entered manually. While a user can forward bills to the system via email, one canвt specify the amount due and have that automatically entered into Bill. com. So someone still has to enter the amounts. Not really a Bill. com issue, but a more general oneвthe company still has to work with a number of different web sites and repositories to run the businessвfrom the bank account to QuickBooks to Paypal to Bill. com. But it would be great if it all could just happen in one place. I never thought Iвd find myself writing a passionate blog post about invoicing and payments. But Bill. com is a big step in the right directionвI just hope the company will take a few more steps to make payments, invoicing and accounting much, much easier!
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