Accounts Payable (AP) Solution Comparison: BILL and Mekorma
In his book Start with Why, author and speaker Simon Sinek wrote: “competition is the fuel that ignites innovation.” We agree. Competition brings an opportunity to learn, grow, and lean into our unique strengths.
When exploring the world of AP automation, there is no shortage of options for businesses. However, when you are assessing which solution will work for you, the nuances are important. It’s with this in mind, that we’ve decided to share the similarities and differences between what Mekorma offers and some of our competitors.
If you’re just getting started and would like some insights into what features to look for in an AP automation solution, we invite you to read our guide to choosing the right AP solution for your organization here. Our goal, as always, is to help you find the best AP solution for your organization.
About our Competitor: BILL (Previously Bill.com)
Founded in 2006, BILL is a publicly traded company with a strong market position. BILL offers financial automation solutions for small, midsize, and multi-entity organizations. The company boasts 2,500 employees.
BILL’s key offerings include:
An Accounts Payable (AP) and Accounts Receivable (AR) platform that can sync with any accounting software. For accounts payable teams the solution automates approval processes, ACH, and international payments providing centralized task visibility and reporting through a mobile app. BILL’s solution also assists with AR needs such as automated invoicing.
A Spend & Expense management solution, including a company credit card and software that streamlines reporting and provides real-time visibility and control over business expenses.
An Accountant Console designed for accounting or wealth management firms to manage multiple clients (who are on BILL) effectively.
BILL’s platform offers strong coverage for AP including invoice capture, approval workflows, and payment processing. They also provide a robust solution for many accounting needs, including AR and expense management. However, BILL’s solution requires some users to learn an additional, external software system and then switch back and forth between BILL and their ERP daily to complete AP processes. It is also important to note that as of 2023, BILL does not support users on Microsoft Dynamics GP.
Let’s dive deeper into how BILL compares to Mekorma:
In conclusion, BILL offers a robust AP/AR solution that many organizations value. Their solutions may work particularly well for those who aren’t satisfied with their ERP or are looking for an externalized approach to AP automation.
If you’re looking for a personalized, seamless, and supportive approach to making AP processes more efficient, Mekorma is here for you. We equip teams to embrace more ease and control in their AP processes with fully embedded payment solutions and unlimited customer support.
Still on GP? We've got your back. Mekorma is committed to supporting GP users whether you want help transitioning to BC or you plan to stay where you are for the time being. You can learn more about what we’re doing to support GP users here.
