JMT Consulting: Hello everyone, thank you for all for joining us for today's webinar Digital Payments Revolution: Cut Costs, Reduce Risk and Turn AP into a Data Source with Bill.com. My name is lauren hogan and i'm a regional marketing coordinator here at JMT.

We're very excited to have Mitchell you and carolyn most from bill.com joining us today.

So just a couple of housekeeping notes, before I turn it over to Mitchell if you have any questions during the webinar today, please go ahead and submit them into the Q amp a section, as you think of them.

will save them all until the end of the presentation, but don't hesitate to submit them as they come.

Also, just a reminder that will send you both some handouts, and the recording of today's webinar within 24 hours after it has concluded and let's go ahead and turn it over to you Mitchell to get us started.

Mitchell Yee: Thank you lauren.

appreciate it and Thank you everyone for joining today, and one of the things jm T as well for allowing us to present and talk about digital payments resolution cutting costs, reduce risk and turn a peek into data source and i'm Michel de senior manager channel partnerships.

we're just going to cover a few things today, you know we're going to cover over what a finance teams need digital payments and types of payments that are how ap automation fits today's needs and will introduce bill.com and we'll open it up to Q amp a.

In the past year.

Finance teams have been up ended and their priorities have been all over the place, focus of the finance team has quickly shifted.

To being.

On the go and not in the office, so they need better information faster, so they can manage the business, depending on the current conditions.

we're going to take a look at some of the things that can be put in place to help gain access.

Some of the efficiencies can be used, it can be gained, or through technology boost productivity streamline process by automating manual and repetitive work.

Supply insight for better and faster decisions by integrating the financial tech stack gaming real time reporting and insight.

streamlining process and gaining real time visibility into the cash flow lets them focus the resources on their core mission getting back to what the company is focused focused on.

When you think about places to gain efficiency.

People often overlook, an area where you can reduce risk and save money and then is in your payments process.

we'd like to understand a little bit about you and what type in how you're processing payments now, so we have a poll question here for you.

And the question is, what type of payments do you process now.

So i'll leave a poll question up here for about 30 seconds 45 seconds here and we'll have you fill up those answers.

couple options are checks.

A ch.

credit cards.

International wire.

or cryptocurrency.

Thank you, Lord.

yeah.

Alright, so it looks like most of you answered checks.

Here within here and that's typically what we see currently in today's business model so we're going to talk about next on the next slide here is what type of payments, there are and.

The efficiencies and the downsides of those payments so business to business payments are B2B payment types there's many different types, that you can use.

A couple of types of we're going to talk about the first one is a ch payments, these are digital payments made through an automated clearing house and that's what a ch stands for automated clearing house and secure system for bank to bank transfers.

It typically a ch transfers takes anywhere from a few hours to a few days to clear.

These transactions don't happen in real time, but they are faster and evolve less manual Labor than paper checks and incur lower fees to the receiver in credit cards.

So a couple things here they're fast they're easy to do.

con is that pair must have a bank account.

and

You always have to share information to play with a ch which can you know, lead to a little bit of a fraud, the speed is great, but the in the cost is low.

Next payment will take a look at this credit card payments.

B2B payments through credit cards are typically done with travel entertainment fleet P cards operate the same way, has business to consumer B2C card payments they provide one of the fastest payment options, but they're one of the most expensive options for the receiver.

So with credit cards they're easy to use fast payments.

Some of the cons, the potential for abuse lots of maybe employees have the corporate card can utilize that, and you know, open up take a lot of risk within their.

it's fast payments downside is for vendors it's really expensive pain that percentage that merchant fee is very expensive and typically they don't want to do that.

The next option that we typically see is a virtual card.

Virtual card is a 16 digit one time use credit card token that functions as a proxy for a physical credit card with a perpetual number.

The virtual card offer a layer of protection and security.

Because the card number token can be used only once, and they also specify the amount of the payment and expiration date.

It adds an extra level of security for you and the vendor to process that payment eliminate some of that potential abuse for the risk downside, though, is it is still very expensive for.

Your vendor your receiver, and this is a cost of hesitation for vendors to still even receive payment by credit card.

The next option will take a look at his paper checks every checks are very familiar to everyone.

Still, at least 70% of businesses use check payments day and they don't they tend to overlook the cost behind it.

With these payments that are made by check between business to business and when they think some of the things that they overlook.

are going to be the Labor involved with reviewing and approving a bill cutting a paper check lining that paper check with the invoice.

it's putting it on someone's desk for review and signing matching the correct invoices with that correct payment that takes time it's all manual it's very repetitive.

Things that are done very manually and there's room for lots of error within their.

Companies typically can take weeks even months to complete their EP process and the security of checks is very low checks are easy to steal forge or lose.

And every time a paper check leaves your company and exposes your business to valuable banking account routing information that's all information Someone needs to steal your money.

So in the recap, of the paper checks, they are easy to use it's very time consuming takes up a lot of manual resources they're slow to get to the vendor so takes a lot of time to settle and there and it can be very, very costly, with all the manual Labor involved.

Next we'll look at bank wires.

bank wires is a form of eft electronic funds transfer, which is just what it sounds like transferring from transferring funds electronically from one bank to another without any paper money changing hands.

bank wires are great they're simplified they're easy.

They take it can be quick, they can take long depending on the currency in the country you're paying on.

Some of the console's that they're non reversible and they're very expensive to you.

Typically, banks charge quite a bit for those.

Next we'll look at the cryptocurrency it's an emerging payment form that is not yet widely used looks to be somewhat of the wave of the future, but it is very unfamiliar and most vendors don't take cryptocurrency.

That great it's got great speed it's fast it's immediate and there's no bank things so as the future goes on cryptocurrency could be something that might be becoming more and more common amongst it.

As we transition into this will take a look at some of the future of B2B payments.

On this paper checks remain the dominant form of payments across markets, even through creating them, even though creating them is so inefficient that they generate overhead costs.

and checks are risky they got check fraud is one of the biggest risk of pain by check.

Overall, nearly 60% of B2B payments in North America are still made with paper checks checks account for up to 80% of small and medium sized business payments.

But ap automation can really cut the cost by up to 75% so transforming those check payments into digital form, including a ch credit card.

That can cut the cost quite a bit currently digital payments, such as a ch and credit cards only account for 36% of B2B payments today.

This is something that can be vastly changed in an organization using some of the technology.

we're going to talk a little bit about some of the cost, but before we do talk about the cost of payments, we have another poll question for you here.

How much do you think it cost, on average, for your business to process an invoice.

Think about the time the amount of people involved from creating a payable collecting that image, maybe the improvers involved to signing and printing the check the cost of that.

Think about all that cost and look at the options do you think it costs less than $1.

Between $1 $5 $5 and $10 $10 to $20 or over $20, and these are some options that you have and leave it up here for another 15 to 20 seconds.

alright.

Alright, so we got a few answers here.

looks like.

looks like it's pretty split pretty evenly one for between one and $5 one that's between five and 10 and one that is over $20.

we'll go ahead and take a look at some of that in the next slide here.

Two payments are costing you more than you think.

The typical cost breakout from making business payments keep in mind that 60% of these payments are made by check.

I mentioned that creating checks so inefficient that they generate high overhead costs and that this is reflected here for midsize business processing an invoice typically cost them $16 or greater the smaller organization actually spends over $20.

This is actually taken and these shots are taken from a Goldman Sachs report of the average cost and average type of payments being made through from B2B.

So, as you see, these are very expensive to do.

Back in function cost of individuals cost of manually mailing out the checks manual reconciliation can be pretty costly and the average is about $16 per check name.

And when we look at some of these.

B2B payments are a huge inefficient market currently.

rolling these payment process cost up for the business of North Americans North American businesses were spending upwards of 510 billion dollars.

Just to make business to business payments that's a big number and the primary reason is that 70% of businesses are still making B2B payments by paper checks.

And the average cost to the accounting firm to process one invoices about $22 due to manual process This cost is primarily made made up of headcount.

The time it takes to do it and, of course, some fees related to payment processing in some international payments late fees or return checks this all adds up.

To 510 billion dollars, which is about the annual revenue of walmart if you think about walmart and how big they are $510 billion is a big spend for small to medium businesses.

When you look at those payments, again we touched a little bit on this.

We want to kind of summarize the types of payments here's a good picture of these payments and how they're arranged by to show cost and speed of each type what cryptocurrency is very low cost.

And it's not come it's just not commonly used, yet the lowest cost payment types or AC issue credit cards, which are very commonly used amongst B2B payments.

And can be even more utilized amongst the businesses as still only about 30% of businesses utilize really a ch and credit card payments.

If you were to look at these payments, and you are thinking about the payment process and ap automation.

We have another poll question, but how do you think your company could benefit from digital payments.

So i'll leave this up again for about 30 to 45 seconds.

And with these digital payments, and I think your company could benefit.

Faster payment better payment security online audit trail paperless and touch list low risk of theft, reduce processing cost.

All right, we'll take a look at the results here.

So it looks like paperless and touch list is one of them, and the other majority here is reduced processing costs.

that's a great answers.

What we'll do here is we'll talk about reducing your costs by solving payment challenges.

Updating your payment process to digital payments provides a pretty big opportunity to reduce costs and saving time.

first thing you'll do is save money by reducing the effort spent on making payments.

Next you'll save time.

Digital payments can solve time consuming B2B payment problems letting you speed spend more time on your business, no more late nights getting vendors paid fees for paying them late or matching paper invoices to payments and simply if you think about the amount of time you'll get back.

To you got family you got.

great work life balance, reducing the amount of Labor behind payments and doing manual checks can free up time to spend with loved ones or do personal things that you love outside of work.

And there's a way to save time and money and provide even more value to your organization, by also streamlining your entire ap process.

This is the most important and most valuable solution, helping you gain new insight.

Why do we say that well let's look at a typical ap process.

Typical ap process it's very manual is any efficient so we're going to talk a little bit about what you see here.

The reality of ap process if you haven't automated ap is one of those processes that quickly takes more and more time and effort people don't notice that it has become time consuming.

And it's tedious manual and error prone until there's a sudden change in personnel or sudden change in the business condition like we've had over the past year.

When people stop and look closely at what they're doing to pay bills they find they're doing a lot of manual review and data entry sometimes entering the same data in different systems, so if you think about how you first captured invoice by mail by email.

usually have to download that maybe even upload that image onto the desktop but you're saved in somewhere on your desktop.

you're going into the accounting system manually entering in information new invoice number build a due date net net terms total amount.

Maybe you're hitting clone or duplicate and just changing a few items on there and then you're uploading that document, all of that is very manual it's very time consuming it's tedious and in that process.

You just spent an hour doing 20 bills don't even know it, you just spent that amount of time doing just a few bills.

Next is the approval process, and this can be very tedious you're handing handling paper storing lots of paper for doing it by email emails get lost.

papers get left on desk.

People forget to respond to emails and now you're tracking this outside of your core system.

tracking it outside of your core system.

Now takes extra time that you didn't realize, making sure that you follow up with those who haven't processed the bills are having approved the bills so payments aren't late.

Once bills are finally approved.

It has to be paid, they have to create paper checks print them out.

get them signed stuff and then the envelope mail amount.

Maybe they're doing payments through a bank, maybe you do in a nacho file, which is very tedious time consuming takes time to upload.

bank might reject it, if one little thing is off.

or someone's logging into the bank account re entering information, the dollar amount when to pay credit memo all of those things are double entry.

In typically you're doing if you're doing multiple types of payments, you are using multiple systems.

If you're doing a credit card payment to play logging into that vendors online portal to make that payment then manually reconciling that inside of the accounting software E ch payments typically go through a bank manually logging it back into the accounting system.

takes a lot of time to do that.

And once payments are made now you have to take the process of reconciling.

reconcile these payments can be painful This is where a lot of air happens, this is where a lot of double checking a lot of.

forecasting your cash flow until the next couple of 30 6090 days you're tracking these checks that have been deposited reconciling inside the accounting software tracking those checks that haven't been deposited.

wondering when they're going to be deposited trying to forecast how much you can spend next month on the most current bills.

All of that is very manual and tedious we can automate those things.

Through technology, overall, the manual process is repetitive at ap process is ripe for automation and we'll take a look here the next slide and how we're gonna be able to help gain know efficiency through an ap automation like bill calm.

We create efficiencies.

Through accounts payable and four simple steps we start with receiving a bill and automatically capturing it with either.

it's short for intelligent virtual assistant, it is an artificial intelligence, you can use your mobile phone to capture that picture.

If it comes in, by mail, you can have the vendor send it in by email, you can drag and drop it, you can upload it into the system.

Within a few seconds or artificial intelligence either will capture that image, create a payable for you, for review it's that simple it's that easy no more downloading and uploading and more manual entry.

Next, it helps create the approval workflow.

As it understands your improvers improvers will be on there, so you simply review it save it goes off to the improvers not only can you see.

Where who went to, but you can track now all through an easy interface, which will see earlier a little bit later on.

you'll be able to see who had what for how long they've had it when you sent it to him and you'll have collaborative messaging inside to remind them with automated reminders as well, this will help keep them on track to approve these bills.

And if they're afraid to go digital.

Your mobile application is right there in front of them simply put them on the screen open up with face ID and there, it is the image of the bill approve or deny you can see, it all.

makes it simple, easy eliminates having a track eliminates having to remind all automated and puts it in the back pocket of those who have a phone.

And once bills are approved, you can make payments what's great is not only can you still do this from the mobile application.

You have controls and securities around it, such as positive pay to prevent anyone from getting your account and routing number we mask your account routing number on those checks.

We mask any vendor information banking or your information being exchanged between a bank to make a ch payments or wire payments.

We also do virtual card so we're going to eliminate the need to use multiple platforms to make different types of payments all payments can be done through robot calm, we make a ch payments international wires virtual card and check payments with a click.

it's all done simply in one platform without the need for double entry without the need for going into multiple systems make different types of payments.

And as those payments are made, we automatically sync and reconcile with your sage and tax system made for easy audits, as we are the only business solution business bill payment solution partnered with CPA calm and the Ai CPA.

were the only business solution that has.

Our money transmitting licensed in all 50 states so we're intel's, we are also a solution that partners with top banks.

that have come to us build our platform into their online baking for their business banks, we are compliant and every banking regulation as well nacho ofac.

We also provide our sock want Type one and Type two reports so we're fully covered with those and make it for an easy audit when auditors come in so eliminate that need to manually reconcile with the bank statement.

Those are four efficient ways to make your back office paperless automated flexible and efficient.

We are going to be able to create a paperless utopia that can help save you up to 50% or more time by eliminating that manual work associated with processing paper invoices checks and getting approvals and recording payments in the accounting system.

Simply put, we're going to transform ap pain into ap efficiency.

we've shown you how ap automation with bill calm transforming ap pain into at efficiency it changes your focus from history.

To investigation what happened to planning for the future.

So, if we look at this we're going to look at traditional ap based on focused on history we're going to look at transformed ap which is forward looking and agile and we're going to touch base on these from a manual repetitive process that involves a lot of paper.

we're going to change it to fast an automated saving time and money.

From.

Touching scanning and storing paper.

transform it to paperless in the cloud make it easier to find documents easier for audits and make it easier to answer questions.

From chasing down improvers we're going to transform that into automated reminders mobile approval and view audit trails.

super efficient and convenient, especially for those who are non accounting users.

from sending checks, no cutting checks getting them signed put them in the envelope mailing them out tracking those we're going to turn that into digital payments with a click.

or payments can be done inside a bill calm easy tracking easy audit.

From manual reconciliation we're going to transform that into automated automated sync with sage intact this manual reconciliation and shuffling around between the Bank and shuffling on which checks have deposited not positive.

you're going to be able to.

move past this very quickly and easily and really focus on the reporting aspect.

And all of this is done here through bill calm.

and build out calm as a leader in the market.

We are trusted leader in ap automation.

We have thousands of customers using bill calm with sage intact, creating a better together solution.

We have over 109,000 customers today using gmail.com.

And we are moving more than 130 $3 billion annually through bill.com.

This is something that is not a small feat it's not something you just do overnight has a trusted leader in ap automation.

Being a public company with over 100,000 customers, this is something that we take very serious what's great is the system doesn't take.

Long at all to get up and running it's easy to set up in sync we can get you started in days not weeks on average roughly about four to five hours of setup time and training time included in there and you're up and running.

Now we're just going to take a look at some of our quotes that we have from a few of our clients.

This is from our bow.

In our bow is a Association for research and vision and ophthalmology.

Is the largest I envision research organization in the world, with over 12,000 research researchers from 75 countries, in addition to greater visibility into their cash flow.

transactions and trends arvo has seen significant time savings team can now spend more time on employee development, resulting in improved retention.

georgetown visitation preparatory.

it's a college preparatory high school for girls.

Roberta says we had fairly typical ap issues with a lot of manual inefficient process, they pay about 250 bills, a month on average.

Whenever anyone had a question about a bill they call their ap person and she'd have to sift through stacks of folders to find out what they needed it was just torturous now if anyone has a question, I can just go right into bill calm look it up for myself.

So it's easy that I don't have to get anybody else involved with inquiries anymore.

These are some great quotes that we have.

from some of our bill.com clients.

And we're just going to switch over to another quick poll question here.

But what's the biggest benefit your company would get by automating your ap system.

What do you think is the biggest benefit you'd get will leave this up for about 30 seconds here but spend less time on ap.

Go paperless get more insight into payables make approvals easier manage ap from my mobile phone.

just some of the options that you have here.

Alright, just a few more seconds.

Take a look at some of the results here.

majority of you chose spend 50% less time on a great choice.

As we move on here we'll just take a look at.

Different types of clients that utilize build calm all types of clients within here Small Medium large many, many not for profits for profits, is a very strong point for us, based on our compliance is and securities around money movement and our system in general.

So it's just something that we can see within bill calm and have a great REACH and help with not for profits now we're going to take a quick look at a little bit of bill calm and the DEMO so you get a little brief introduction to what the user interface looks like.

It all starts right here with our intelligent virtual assistant either boosting productivity by eliminating the manual work of scanning invoices in streamlining the process by starting the bill for you.

There are three ways to get the bills into the system, you can email have the vendor email it right in within seconds it'll be there.

drag and drop, you can upload you can even do use our mobile application snap a picture, it will start the process for you.

The intelligent virtual assistant catches duplicates right away and starts to populate information for you, eliminating that manual data entry in that manual upload and download documents unlimited document storage you don't have to worry about hitting a cap on documents either.

When I have a takes a look at this bill will populate information for you will populate the invoice number will populate the p O number.

Will populate an invoice data bill data due date net terms, the amount.

Will populate all of that information for you as i've learned, we have machine learning as well, that will help understand your GL accounts your dimensions.

and your improvers so you can have different things within here that will automatically populate for you, so you don't have to manually populate them yourselves eliminating that manual.

Data entry for you, we even have bill approvals based on dollar amount, you can set rules that if a bill is equal to or greater than $5,000 must have my CFO on this approval.

And SOFA bill from vendors typically not around that $5,000 range it's much less and all of a sudden, a bill comes in, from this vendor and it's over $5,000.

it's going to give you a little message is going to let you know that hey in order to processes bill and get it on through the approval we got to add the CFO in here, so it helps with maintaining not only catching duplicate records and maintaining.

Maintaining that database, but it also helps with making sure that the approvals appropriate approvals are on here as well.

We also have either or so, if you have a department that can potentially approve a bill, you can add that department within this bill.

And it will send off to all of those approvals within that either or option, and as long as one of them approves it goes on to the next step.

And we'll take a look at some of that the approval process is very simple it's going to be easy it's going to be automated it's going to be fast and simple.

But the single click even from their mobile phone is i'll show here it'll go right into showing them the bills that they have to approve.

it'll show them the invoice image it'll show them all the details of GL and dimensions.

You know, also show any collaborative messaging someone may be asked a mess question on here, I need to respond to it i'll get notified respond right backs, we can get the bill approved.

All of this in here, makes it very easy to do with our award winning mobile application lets you really collaborate.

With notes see the images and the GL accounts and approve payments, all within here, you can even create the bills from this mobile application this really truly let you be anywhere and put your back office in your back pocket.

Once those approvals are done you'll start with really seen everything here.

CFO VP of finance controller, they want to know what's going on and bill calm and our simple overview page.

will allow them to see not only bills that need to be paid bills that are passed do bills that are coming up in the next seven days, but the bill to see right here as well, which improvers.

Have what bills for approval, how long they've had them for, and you can dive right in to see which builds those are.

and have collaborative messaging and push them along with more notifications of getting these bills approved, you can see payments that are.

going out and scheduled and you can dive into each one of these even further and will show you from the next screen.

How it's even easier to make payments all from a single screen so within here, you have the ability to pay by check domestic a ch transfer.

wire transfer virtual card all for payments available to you through bubba calm and the great thing is, you still have the control of when a vendor gets paid how they're getting paid.

All that is still controlled by you, with in here.

So, within this date and time that you want to pay those bills, you can schedule them 30 days out, you can schedule a payment 60 days out, you can schedule for payment tomorrow.

and payments will start to go out makes it very easy to do everything all in one platform.

And it all sinks back to your accounting software so it'll sink back with sage intact it's an automated sync you can always hit just to sync now button at sink right then and there.

But it will help process these payments sync all of this payment information back to your sage intact and reconcile to your journal entry cash account eliminating that manual reconciliation.

To take a look at just some of the things that it does sync.

Within the system here and within the system of sinking.

You can see that it is a very robust think there's actually multiple different ways to set up bill calm to sage intact, based on how sage intact is set up, whether you have a single entity multi entity environment we can sync with that.

This is just a little sneak peek here and we can definitely talk more about this in depth, based on your organization's needs.

we're just going to recap, here again, some of the transforming ap to ap efficiency so i've talked about different types of payments that businesses you showing how.

costly and risky the most familiar payments types is that paper check i've shown you how a typical ap process works, no one in 10s that their payment.

process to be inefficient and expensive it just happens over time, as the company grows and people change roles i've shown you how you can streamline your payment process with bill.com they can it easy and efficient.

With your ap process running smoothly and easily automated and paperless you'll gain something that our customers love.

you'll be able to spend time on your core mission of the business spend time with your family doing things you love outside of work.

Instead of chasing down checks chasing improvers becoming support for vendors wondering when a payments going to get to them all of that is taken care of through gmail.com.

we'd love for you to take a closer look@bill.com.

And you can contact myself.

And i'll have some information up in just a second or you can contact your trusted advisor in JMT so I definitely recommend reaching out to them letting them know.

That you're interested in bill.com you can reach out to us just let us know if you do reach out to myself or bill calm, that you are with GMT and we can help bring them into the conversation as well, to make sure everything aligns.

And we have one last poll question for you here, actually, I have two more but one more poll question here for you right now.

And that is what's most important when you're buying a software tool, if you think about all the times you purchase software tool, what are some of the most important things.

When you went that you looked at, when you were buying a tool security of the solution sync syncs with your existing tools peers recommend it.

fast and easy integration approach.

Only this up for about another 20 to 30 seconds here.

Right.

let's go ahead and see some of those results.

And looks like majority was syncs with your existing tools and fast easy integration.

Which are all things that robot compton definitely do sinking with your sage intact and it's fast and easy integration.

One last question here.

it's just are you interested in hearing more about go back home.

If you are please let us know definitely help out in GMT can help, could you contacted with us, you can reach out to myself, will make sure we bring jm T along as well.

All right.

Hand looks like everyone said yes that's great we'll definitely make sure we're in contact with you.

And we'll open it up now for some Q amp a so don't forget to reach out to myself.

Mitchell D senior manager channel partnerships I my email and phone number here, as well as don't forget to reach out to GMT.

JMT will definitely reach out to us, so I definitely recommend always reaching out to jm T is your trusted advisor and consultant.

and bring them along in the process anytime you're looking at any type of software solution, they have many, many years of consulting wants technology and know what works best with your sage intact and more enough capacity, you.

Thank you so much Mitchell, for your presentation and we'll be sending out mitchell's contact information in the slides.

Following the webinar, and so it looks like we have a question here, what would the average cost be per month for a company that processes 250 to 300 ap invoices per month, they use sage accounting.

yeah absolutely so a couple ways to look at this.

If you're talking about the volume of just.

ap invoices.

there's no charge for ap invoices, so the way we charged with bill.com is there are two annual recurring costs that you want to think of and then.

A one time cost for implementation and training, so it will be a one time cost when you get started with bill.com for implementation and training.

And then there's annual cost that you'll you'll think of it in two ways there's going to be a user cost so a type of user and bill calm.

depend will give a different type of pricing, but there's going to be a user price, based on their access to bill.com.

that's typical annual recurring costs and then a transaction is another way that we cost that we that we charge for.

So we don't charge for documents we don't charge for the data entry of documents we just charge if you decide to make payments through bill.com So if you have 250 to 300.

Payments through bill calm and actual payments, not just invoices, then.

If our highest cost payment is $1 69 per check which includes positive pay includes.

masking your account routing number of tracking of those checks envelope stamp all of that.

you're looking at about you know dollar 69 per check.

Times we'll just go 300 of the most, you know as the highest volume you're looking at about $507 justin payments and then depending on the users or how many users access COM and.

What level of access, they have will also be added to that in a monthly cost i'm going to assume through this, though, that you're not making.

300 check payments every month that this is more towards the ap invoice, so I hope that answers your question, I can definitely give you more detail if you reach out to me, we can analyze that cost.

Any other questions.

JMT Consulting: We have another question here, and what is the process to get up and running on bill calm.

Mitchell Yee: yeah great question.

The process is pretty simple.

there's going to be 30 minute call kind of a consultation alignment call just to ensure that what was talked about.

Through your decision of moving forward with bill calm and implementing it it's still stayed the same, a lot of that is based on what you're using it intact and your workflow.

The second call is about an hour and a half, and this is the actual implementation, this will actually have you set up and fully running on bill calm.

sinking with sage intact, adding all of your users, setting up their appropriate roles their appropriate notifications adding the bank account to make payments through setting up the appropriate individuals who can make those payments any workflow routing of approval any.

Any other setup as far as setting dollar thresholds for certain improvers all that will be done in an hour and a half, so if you think about the actual implementation two hours of time.

And then training can depend a little bit on just how big the team is typical training is about another hour and a half, maybe two hours of training, I usually split up into two sessions, one for more functional users who are going to create bills.

Maybe an administrator who's going to set up the you know kind of understand how to add and remove users, maybe add or remove users from the bank account.

That they'll be one training usually about an hour and then we separate another one, for your approval users, because they're very simplified role and that's about another half hour.

If they're larger team will split it into a couple different sessions for them, so you don't have to have everyone do it all at once, but typically you're looking at about four to five hours total setup time.

JMT Consulting: Great and then.

And let's see, we do have another question here, why would I need to add bill.com to intact doesn't intact do all of this.

Mitchell Yee: In tax, a great solution and.

It can do a lot of things.

intacct is really good at being the for the core function of accounting and that's their mission right is not to be the biggest tip out there, but to focus on the core function of accounting and they are great at that all your reporting.

You know, users in there, getting reports out of their focusing everything back into sage intact, is exactly what you want.

just an example of things that we are able to enhance sage intact with is the artificial intelligence and coating bills so something we have.

The ability to do is have a dedicated inbox that vendors can send the bills into that you don't have to look into and download.

And then upload after you create a bill So if you create a bill and sage intact, you still gotta upload that bill into sage intact with bill calm will capture that image of the bill through email we'll all do the data entry to eliminate that manual entry of.

vendor name GL account dimensions improvers all of that will be done through bill.com so you review it versus having to create it every single time so that's just an example and then our payment types.

You can do all payments, not just check payments, but you can do a ch payments, you can do wire payments virtual card and check all through bill calm versus.

being more limited to just check payments printing from.

From the accounting system.

So those are a couple examples there's a few others that we do to help enhance sage intact, but those are just a few things that that are highlighted that we can definitely do.

JMT Consulting: Okay perfect and again thank you so much material and as everyone can see on the screen and if you're ready to chat about how more about how your organization can cut costs and turn your ap into a valuable data source using bill COM.

we'd love to chat with you one on one so for anyone that books, a short consultation with our nonprofit experts, by the end of the day.

I will send you a $10 gift card starbucks gift card, as you can enjoy a cup of coffee on us, while we chat so I have to do is just visit jm T consulting.com slash book.

To get started and we'll connect with you will also do some follow up calls following this, so I will talk to you then also.

I apologize, by the end of the day, Monday on and may 17 so we look forward to speaking with you and thank you so much, everyone for joining us today, and thank you Mitchell and Carol for being here as well.

Thank you for having us, I really appreciate it.

Mitchell Yee: Thank you everyone for for joining and listen listening in for an hour really appreciate it hope to hear from you yeah.

JMT Consulting: bye everyone, thank you.

Mitchell Yee: thank you.

Carole Amos: Thank you.