Bill.com and CPA.com Expand Long-standing Partnership by Adding Divvy as the New Exclusive Partner for Expense Management, Corporate Card, and Spend Management

Rhea-AI Summary

Bill.com (NYSE: BILL) has expanded its partnership with CPA.com, designating Divvy as CPA.com’s exclusive partner for expense management and corporate cards. This enhancement aims to streamline financial operations for CPA firms, providing an integrated solution that combines bill payments, expense management, and spend tracking. The collaboration is geared towards empowering firms with advanced tools, improving client advisory services (CAS), and meeting growing demands in accounting practices. This initiative reflects the increasing importance of CAS in the industry.

Positive

• Expanded partnership with CPA.com enhances Bill.com's market position.
• Introduction of an integrated solution for expense management and bill payments supports CPA firms.
• Strengthened advisory services (CAS) with advanced financial management tools will attract more clients.

Negative

• None.

Expense management and software-enabled corporate card will support CPA firms in delivering next-level client advisory services (CAS)

SAN JOSE, Calif.--(BUSINESS WIRE)-- Bill.com (NYSE: BILL), a leading provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), announced today that Divvy, a Bill.com company, has been named CPA.com’s new exclusive partner for expense management, corporate cards*, and spend management. This move expands the partnership between CPA.com and Bill.com, CPA.com’s exclusive partner for bill management since 2008, and replaces the previous expense management solution with a new offering that will unite all bill payments, expense management and card spending in one comprehensive solution. A key strategy in supporting CPA.com’s updated client advisory services (CAS) 2.0 framework, firms can now have the technology tools to provide more strategic counsel for clients.

"We're excited to build on our partnership with CPA.com, as we continue to deliver on our vision of an all-in-one financial operations solution for customers,” said René Lacerte, CEO and Founder at Bill.com. “The powerful combination of Divvy and Bill.com provides businesses with the ability to see 100% of their B2B spend, giving accounting firms a tremendous advantage to level up their advisory services and provide more value to their clients."

According to CPA.com’s recent CAS Benchmark Survey, CAS is the fastest growing practice area for accounting firms. To help firms keep pace with demand and realize the full potential of CAS, CPA.com recently introduced CAS 2.0 for business transformation and change management, providing firms with a more holistic vision and approach to drive firmwide adoption of CAS.

“As CAS continues to grow, becoming a more critical part of firms’ offerings, they need a comprehensive technology solution that provides their clients greater access to business credit, increased control over spending and a real-time view of their finances,” said Erik Asgeirsson, President and CEO of CPA.com, the technology business subsidiary of the American Institute of CPAs (AICPA). “Bill.com’s Divvy Accountant Advisor Program, in partnership with CPA.com, empowers accounting firms with an integrated software solution and corporate card for their CAS clients, allowing them to deliver higher-value advisory services.”

Divvy provides an all-in-one expense management platform that pairs corporate cards with Divvy’s automated software to more effectively manage credit card spending, expenses, and budgets. For accounting firms looking to deliver on next-generation advisory services, this provides a key differentiator and strategic advantage.

The Divvy Accountant Advisor Program, in partnership with CPA.com, provides accounting firms and their clients the ability to:

• Automate previously manual, time-consuming tasks, such as expense reports
• Have real-time visibility and insight into business spend
• Control budgets and spending activity in real-time from a mobile phone
• Manage Divvy corporate cards with simple, easy-to-use, integrated software

Benefits to firms include:

• Easy access and real-time visibility into client spend and expenses
• Exclusive promotions and rewards for firms and their clients
• Tailored training and content to support firms’ success with the new solution and capabilities
• Dedicated partner support and resource hub complete with templates and materials to enable client success
• Co-marketing and promotional opportunities including customer success stories and more

Client benefits include:

• Free, award-winning spend and expense management software
• Exclusive Divvy and Bill.com offers and incentives

“Divvy puts the power in the business owner’s hands when it comes to managing spend. Especially after the last two years where cash flow was so critical and a remote workforce added layers of complexity, businesses need tools that make it easier for them to operate at their best. Divvy’s spend management solution starts with putting the right controls on budget and expenses in place and makes it simple to onboard new employees without losing that control. And with the partnership and support that Bill.com and Divvy have always delivered, this is truly a best-in-class solution.” — Nick Pasquarosa, Founder & CEO, Bookkeeper360

Read more about this partnership here. To learn more about how CAS practices can benefit from this program, join CPA.com, Divvy and a firm practitioner, on a free-CPE live webinar on March 30th. To learn more about the Divvy Accountant Advisor Program, click here.

About Bill.com

Bill.com is a leading provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses. Customers use the Bill.com platform to manage end-to-end financial workflows and to process payments. The Bill.com AI-enabled, financial software platform creates connections between businesses and their suppliers and clients. It helps manage cash inflows and outflows. The company partners with 6 out of 10 of the largest U.S. financial institutions and 85 of the top 100 U.S. accounting firms, and popular accounting software providers. Bill.com is headquartered in San Jose, CA. For more information visit www.bill.com.

About CPA.com

CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the U.S., with a growing global focus. CPA.com is a subsidiary of the American Institute of CPAs (AICPA) and part of the Association of International Certified Professional Accountants (AICPA & CIMA), the most influential body of accounting and financial professionals worldwide. Learn more about CAS 2.0.

*Card issued by Cross River Bank, Member FDIC

View source version on businesswire.com: https://www.businesswire.com/news/home/20220308005487/en/

Press Contact:

Oriana Branon

obranon@hq.bill.com

619-997-0299

IR Contact:

Karen Sansot

ksansot@hq.bill.com

Source: Bill.com

FAQ

What is the new partnership between Bill.com and CPA.com?

Bill.com has named Divvy as CPA.com’s exclusive partner for expense management and corporate cards, enhancing their existing partnership.

How will the partnership impact CPA firms?

The partnership will provide CPA firms with integrated tools for expense management, improving their advisory services and client engagement.

What is Divvy's role in the new offering from Bill.com?

Divvy provides an all-in-one expense management platform that combines corporate cards with software for effective budgeting and expense tracking.

When was this partnership announced?

The announcement was made on March 8, 2023.

How does this partnership benefit clients of CPA firms?

Clients will gain real-time visibility and control over their spending, along with access to exclusive offers and resources.