360° Coverage : Entrepreneur's Resolution: Going Paperless

2 Updates
Entrepreneur's Resolution: Going Paperless
Photo Credit: Forbes Business

Entrepreneur's Resolution: Going Paperless

Jan 1 2014, 12:05pm CST | by

If you haven’t already come up with a New Year’s resolution for your business, you might want to think about the following: going paperless. It will definitely save you time and money. But more...

Filed under: news

 
 
 

36 weeks ago

Entrepreneur's Resolution: Going Paperless

Jan 1 2014, 12:05pm CST | by

If you haven’t already come up with a New Year’s resolution for your business, you might want to think about the following: going paperless.

It will definitely save you time and money. But more importantly, you can focus more attention on getting customers.

Sounds good, right?  It certainly does.

So to get some insight on making a business paperless, I reached out to René Lacerte, who is the CEO and founder of Bill.com. Prior to this, he sold PayCycle to Intuit and then ran the firm’s bill presentment operation.

All this experience proved invaluable for building Bill.com. Keep in mind that the company recently raised $38 million from investors like Scale Venture Partners, Bank of America, American Express, Fifth Third Bank, CheckFree founder Pete Kight and Commerce Ventures.

“For a business owner,” said René, “a transaction is the tip of the iceberg. Below is all the process, such as contracts, the history of invoices and so on. This is where much of the paper comes from.”

And yes, Bill.com helps to solve the problem.  As should be no surprise, it is super easy to set up. First you integrate the service with your accounting package, such as Intuit’s QuickBooks or Xero. This will automatically include your vendors and other accounts. Then you connect Bill.com to your bank account, which streamlines the payments. All this should take less than an hour.

Now, whenever you have a transaction, you can scan it – say via a smartphone – and email the bill to a unique Bill.com address or a fax number. The system will create a full profile for each transaction — including access to the contracts — which then updates your accounting system. In other words, you will have no need for your filing cabinets!

Yet René thinks a business owner needs to consider something else — that is, the workflow. “The big mistake is to just pay your bills as they come. But to have a truly efficient system you need to think about the process and how you can better manage your transactions. Should you have bill reviews? Dual signatures? It does not take long to come up with a workflow but it will definitely improve your business.”

Tom Taulli (@ttaulli) operates MasterCFO, which helps early-stage companies with accounting, payroll and taxes.

Source: Forbes Business

 
Update
2

2 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (New ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

2 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tra ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Can another drink relieve you from a hangover?
London, Sep 17 (IANS) Is "hair of the dog" the best cure for hangover? According to a renowned author and journalist, another drink is the way to get rid of those forgetful morning episodes of a dry mouth, headaches, nausea and lethargy.
 
 
Squid skin technology produces vivid colour display
New York, Sep 17 (IANS) Researchers have created a breakthrough colour display technology that brings the quest to create artificial squid skin - a metamaterial that can 'see' colours and automatically blend into the background - a step closer.
 
 
Australian PM backs medical marijuana
Canberra, Sep 17 (IANS) Australian Prime Minister Tony Abbott has thrown his support behind the legalisation of marijuana for medicinal use, the media reported Wednesday.
 
 
Even healthy people carry viruses in their bodies!
Washington, Sep 17 (IANS) On an average, healthy individuals carry about five types of viruses in their bodies and the same viruses that make us sick can take up residence in and on the human body without provoking a sneeze, cough or other troublesome symptom, says a significant study.
 
 
 

Latest from the Network

Can another drink relieve you from a hangover?
London, Sep 17 (IANS) Is "hair of the dog" the best cure for hangover? According to a renowned author and journalist, another drink is the way to get rid of those forgetful morning episodes of a dry mouth, headaches,...
Read more on Celebrity Balla
 
40 militants killed in Pakistan airstrikes
Islamabad, Sep 17 (IANS) The Pakistan army Wednesday said fighter jets bombed positions of militants in the North Waziristan tribal region and killed 40 local and foreign militants. "Today in precise aerial strikes...
Read more on Politics Balla
 
Indian origin man jailed for raping woman in New Zealand
Wellington, Sep 17 (IANS) A court in New Zealand Wednesday sentenced an Indian-origin man to six years and nine months in jail for raping a woman in her sleep, media reported. The accused, identified as Tajinder Paul...
Read more on Politics Balla
 
Australian student penalised in exam over hair cut
Canberra, Sep 17 (IANS) A 17-year-old student in Australia was penalised 20 percent marks in his chemistry examination for having a haircut that breached the school's uniform policy, media reported Wednesday. Dominic...
Read more on Politics Balla
 
Robert De Niro moves into $125k-a-month apartment
Robert De Niro has moved into a $125,000-a-month apartment. The 71-year-old actor and his wife Grace Hightower have moved out of their rental property in West Village and into the five-bedroom abode, one of the most...
Read more on Celebrity Balla
 
Leonardo DiCaprio named UN Messenger of Peace
Leonardo DiCaprio has been named a United Nations Messenger of Peace. The 39-year-old actor was appointed to the role by UN Secretary General Ban Ki-moon to help promote the organisation's global action on climate...
Read more on Celebrity Balla
 
Beyonce and Jay Z to splash $85m on new home?
Beyonce Knowles and Jay Z look set to splash out $85 million on a Beverly Hills estate. The power couple - who have recently been hit by speculation their marriage is on the rocks followed by rumors the singer is...
Read more on Celebrity Balla
 
Katy B pays tribute to late brother
Katy B has paid tribute to her brother following his death yesterday (09.16.14). The devastated singer has cancelled all public appearances following the sudden passing of her sibling Andrew - who was left paralysed in...
Read more on Celebrity Balla
 
Victoria Beckham too busy for babies
Victoria Beckham is too busy to have another child. The Spice Girls star-turned-fashion designer - who has children Brooklyn, 15, Romeo, 12, Cruz, nine, and Harper, three, with husband David - insists raising her kids...
Read more on Celebrity Balla
 
Dwayne Johnson talks past arrest and theft ring
Dwayne Johnson was arrested ''eight or nine times'' by the time he was 17 after being involved in a theft ring. The 'Hercules' star had a tough upbringing in Hawaii during his teenage years and after getting evicted...
Read more on Celebrity Balla