Your finance team is still following up on invoices - here's the true expense.

      The typical small business manages approximately 500 invoices each month. When this workflow relies on email chains, spreadsheets, and manual check processing, handling each invoice costs between $15 and $40. This is not a technology issue but rather an operational burden on growth, which has gone unchallenged by most finance teams for years.

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      The true expenses of manual accounts payable

      The most apparent cost is labor: someone must open each invoice, enter the data, route it for approval, issue a cheque or initiate a transfer, and then reconcile everything within the accounting system. However, the hidden costs are even more significant, including late payment fees due to invoices that get stuck in someone's inbox, duplicate payments that occur without automated checks, and the risk of fraud from a process dependent on human oversight instead of pattern recognition.

      A 2024 report from the Institute of Finance and Management revealed that companies employing manual accounts payable processes spend about ten times more per invoice compared to those utilizing automated workflows. For a business handling 200 invoices a month, this discrepancy can amount to tens of thousands of dollars annually, not including the opportunity cost of a finance team engaged in data entry rather than conducting actual financial analysis. As previously discussed by TNW, finance is among the sectors where technology adoption yields the most measurable returns.

      What modern accounts payable automation entails

      The transition from manual to automated accounts payable is not about substituting human workers with software; it focuses on eliminating tasks that should not have required human intervention in the first place.

      BILL is one of the platforms that has advanced this concept significantly for small to mid-sized businesses. With over 400,000 users and endorsement from many of the top 100 U.S. accounting firms, it automates the complete invoice lifecycle: capturing, extracting data, routing for approval, executing payments, and reconciling in the accounting system.

      The practical distinctions are substantial. An invoice comes in (via email, upload, or directly through BILL’s vendor network), and the platform’s AI extracts essential fields, checks for duplicates, and places it in a customizable approval workflow. After approval, payment is made via ACH, wire transfer, virtual card, or even a printed cheque managed by BILL. Everything synchronizes back to your accounting software automatically.

      What makes this particularly important now is the AI component. Having processed over $1 trillion in payments, BILL’s models leverage an unprecedented volume of transaction data for software targeting smaller businesses. In the fiscal year 2025, this AI prevented more than eight million fraud attempts and boosted fully automated (“touchless”) invoice processing by over 80 percent. Such fraud detection reflects the larger trend of AI enhancing financial security across the industry.

      The spend management aspect

      While accounts payable automation is central, BILL has ventured into areas that enhance the platform’s appeal. Following its acquisition of Divvy, it now provides a free spend and expense management module that includes corporate cards, real-time budget controls, and automated expense categorization.

      What’s noteworthy is that this spend management module is entirely free. There are no monthly fees or per-user charges. BILL generates revenue from interchange fees on card transactions, allowing users to obtain corporate cards with predetermined spending limits, receipt matching, and real-time tracking without increasing their software expenses. For finance teams that require expense controls but can't justify another subscription, this is a truly practical solution.

      Who will benefit from this

      BILL isn’t attempting to cater to everyone, and this focused approach contributes to its effectiveness. The ideal users are businesses with 10 to 200 employees that process a sufficient number of invoices to feel the challenges of manual accounts payable but don’t require (or wish to pay for) an enterprise procurement suite.

      If you collaborate with an external accountant or bookkeeper, the multi-entity dashboard is a significant benefit. For those already using QuickBooks, Xero, Sage Intacct, or NetSuite, the native two-way sync ensures that accounting integration is a primary consideration.

      Where it may not fit as well: very small businesses with minimal invoice volumes (simpler solutions could be more economical), or firms needing global mass payments across many countries (specialized platforms are better suited for that).

      The offer

      BILL provides a free trial that grants access to the entire accounts payable automation platform, with no credit card requirement. The Spend and Expense module (including corporate cards, expense tracking, and budget controls) is permanently free. Paid plans for accounts payable and receivable start at $45 per user per month, plus a per-transaction fee of $0.59 for ACH transfers.

      Try BILL for free and discover how your accounts payable process can operate without manual effort.

      Pricing is subject to change. Please check the provider’s website for the most current pricing information and offers.