FinTech Xendoo, which works in online accounting and bookkeeping solutions, has partnered with Biller Genie on automated accounts receivable (AR) services, a press release says.
Biller Genie, based in Miami, works specifically with automating AR; it will integrate with Xendoo and let businesses access a simpler way to collect, process and easily reconcile payments in its accounting software, the release says.
Biller Genie was founded in 2018 and offers a simplified way for businesses to use tools to deliver more accuracy in reporting AR, through boosts to the invoicing and collection processes. Xendoo, through the partnership, will leverage Biller Genie’s software to cut down administrative work and allow companies to focus more on growing business rather than the stresses of AR.
The services of both companies have been useful during the shift of companies to the remote work environment and digital payments common to the COVID-19 era. The release notes that cloud-based bookkeeping and accounting will likely continue to be affordable, savvy ways for companies to improve business operations and scale up or down in any environment.
The release says both companies “have experienced the shortfalls of the archaic accounting industry firsthand and are committed to providing innovative technology that automates the traditional bookkeeping and accounting process so companies can focus on growing their business.”
Garima Shah, president at Biller Genie, said the pandemic has been a driver for services for her company.
“Now more than ever, businesses are shifting to digitalization as the pandemic has been a catalyst to help business owners realize the value created through automation,” she said, according to the release. “And thanks to key partnerships like this, we look forward to reaching more businesses and adding more value as we help them transition their A/R from legacy manual processes to modern, streamlined, digitally-enabled solutions.”
Biller Genie CEO Thomas Aronica said in January that the invoice was crucial to helping payments move faster, as many invoices are paid slowly and involve hidden fees that rack up costs. He said one important way to help is to offer flexible options to allow payees to pay however is most comfortable for them.