Bluevine integrates accounts payable in its small business banking platform

Bluevine’s accounts payable enables business owners to automate their entire AP process, including bill capture and storage, approval workflows, payment scheduling, automatic accounting reconciliation, and user provisioning and management.

As SMBs grow, keeping up with bill payment and management is as much a source of pain as it is essential for optimising cash flow, the company says. Lacking available alternatives for businesses of this size, the seamless addition of a robust AP feature and easy-to-use dashboard to Bluevine’s all-in-one digital banking platform helps SMB owners save time and money by applying innovative solutions to everyday problems.

Key features of the accounts payable solution:

• Unpaid Bills Dashboard, Your New Digital Filing Cabinet: One place to upload, view, and store all bills and invoices. Quickly adding bills to one’s dashboard by taking a photo or uploading a file, then Bluevine captures the data from the bills through optical character recognition (OCR) and presents them to the client for one-click confirmation;

• Secure, Delegated Access for Team Members: The ability to add anyone in the company who needs to be involved in the client’s accounts payable process, and set their permissions to reflect exactly what the client needs them to do;

• Route Bills and Payments for Review and Approval: Digitally uploading bills and payments for review and approval to one or multiple team members, including setting the logic for the sequence of approvals to optimise how the client runs his ideal accounts payable process;

• Easily Send Payments: A client cand schedule payments from his dashboard with options that meet his preference, whether ACH, Check, Wire, Credit Card, or International Payments - taking advantage of Bluevine’s low-fee payment options. Also, easily trackable payments to verify when the client’s vendor has received what the client owed;

• Automatic Reconciliation with QuickBooks Online: Minimisation of manual data entry, reducing the risk of fraudulent and duplicate payments, setting up recurring payments, and streamlining approvals with workflow automation designed to cut down back and forth.

Transparent fees and augmented bill payment features

Small business owners normally face high transaction fees from traditional banks when paying bills, especially via wire, ACH, or international payments. With Bluevine’s transparent fee structure, free ACH, and low-cost wires, customers enjoy simple, upfront pricing. Additionally, Bluevine Business Checking offers unlimited transactions, live support, and no monthly fees while giving customers the opportunity to earn 2.0% interest on balances up to and including USD 250,000.

What does Bluevine do?

Bluevine provides small businesses with streamlined banking solutions built for them. Since launching in 2013, Bluevine’s innovative and intuitive products, including business checking, bill pay, and line of credit, have helped over 500,000 entrepreneurs save time and money so they can focus on what matters most: growing their business.