Bill Pay

Simply put, bill pay is the process by which you ensure that your bills are on your books and you pay vendors on time (or know when you are paying late). We look at Bill Pay as aSaaS-enabled process that yields a convenient, safe, and inexpensive way to ensure that your bills are understood, scheduled, and paid on time.

If you find yourself overwhelmed with managing accounts payables, cash flow, and vendor payments, then you need to…

  • Systematize your bill pay process
  • Leverage modern payment systems
  • Ensure separation of responsibility for creating payments, authorizing payments, and releasing funds
  • Establish cadence (weekly, bi-monthly, or monthly) of paying bills

At GrowthLab...

We start elevating your billpay by implementing best-in-class cloud based technologies. We use systems that provide end to end synching solutions with your general ledger. We work with your team to establish cadence and the billpay workflow including an approved authorization matrix. Our billpay process has an eye towards cash flow management and accrual accounting practices. 

 

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