Bill.com: SaaS Meets Small Business Finance

Many managed service providers and VARs struggle with day-to-day cash management, customer invoicing and bill payments. I can't endorse a particular solution to these challenges, but a software as a service (SaaS) outfit called Bill.com caught my eye earlier today.

Bill.com claims its service can automate bill payment, e-invoicing and collections, and help to improve cash flow management. But what really impressed me is Bill.com's viral marketing strategy -- which managed service providers can certainly emulate on their own. Here's how.

First, consider how Bill.com describes itself:

Based in Palo Alto, Calif., Bill.com is an online bill management service that simplifies and automates business finances. Bill.com allows companies to pay, receive and send bills with the click of a mouse, saving substantial time so companies can focus on growing their businesses. Companies can store all documents, related processes and transactions in one place, so financial stuff can be easily and securely accessed from anywhere, any time. Bill.com is the first and only low-cost bill management service that gives companies a real-time daily view of anticipated cash flow while simultaneously processing transactions. For more information visit www.Bill.com or watch the Bill.com Video.
Now, look at the company's concise mission statement:
To be the simplest way businesses do their everyday financial stuff.
Did you notice that the descriptions contain absolutely no technology jargon? Instead, they are written in everyday terms that describe the business value of Bill.com. And Bill.com describes why its service is unique, using words like "first" and "only."

The key takeaway for MSPs: Your certifications and technology partners are certainly important. But when you describe your company, lead the conversation with the top three or four business benefits you offer to your customers.

Next, check out Bill.com's viral marketing strategy and online video:



Notice that the video is stored on YouTube rather than hidden somewhere on Bill.com's Web site. This approach allows third-party sites (like MSPmentor) to easily link out to the video. It also vastly improves Bill.com's search engine optimization.

I'm not suggesting that small MSPs can afford to produce an animated marketing video. However, you can afford to use low-cost tools like the Flip video camera to interview customers and post those endorsements on YouTube.

Frankly, Bill.com almost sounds too good to be true. But the company's clear marketing statements will surely prompt thousands of small business owners to give the SaaS financial service a look.
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