Oracle NetSuite and BILL form partnership for payment automation

Oracle NetSuite and BILL (NYSE: BILL) announced a strategic partnership to provide enhanced payment processing capabilities to U.S. customers through NetSuite Intelligent Payment Automation.

The collaboration embeds BILL's payment automation technology within NetSuite's enterprise resource planning system, allowing customers to process vendor payments directly from their existing bank accounts. The service supports all U.S. banks and enables payment activation within minutes of signup, according to the companies.

"Our strategic partnership with BILL will enable our customers to optimize payment processes within NetSuite," said Evan Goldberg, founder and executive vice president of Oracle NetSuite.

BILL operates a network of more than eight million businesses and processes approximately 1% of U.S. GDP annually. The company serves nearly half a million businesses with its finance platform.

"This partnership marks an important milestone in our BILL mission to make intelligent finance more accessible to growing businesses everywhere," said René Lacerte, chief executive officer and founder of BILL.

NetSuite Intelligent Payment Automation includes several features: payment automation powered by BILL's network, AI-powered bill capture and matching, intelligent payment proposals using natural language workflows, automated bill matching to purchase orders, and payment reconciliation capabilities.

The integrated system allows customers to capture and pay bills, track payment information, and manage batch payment runs from a central location. The companies stated that the embedded nature of the solution eliminates delays from synchronization issues common with separate point solutions.

NetSuite serves more than 43,000 customers across 220 countries and territories. BILL is headquartered in San Jose, California, and trades on the New York Stock Exchange.

The NetSuite Intelligent Payment Automation service is now available to customers in the United States.

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