Bill.com vs e-conomic
Last Updated:Our analysts compared Bill.com vs e-conomic based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.
Product Basics
Product Assistance
Product Insights
- Gain Control: Set up approval workflows and custom roles to suit the department and team. Check pending approvals, sent invoices and other payment activity from the dashboard.
- Everything is Synchronized: Connect with leading accounting and payment tools to speed up reconciliations and keep the books consistent.
- Conduct International Business: Pay vendors in multiple countries and log in multiple currencies with ACH payments, international wires, virtual cards or checks.
- Guaranteed Security: Ensure premium data integrity through Transport Layer Security for data encryption and transmission.
- Boost Efficiency: Automate manual work, minimizing the possibility of error or duplicate entry, thereby saving time and boosting efficiency.
- Quick Account Receivables: Pay clients two times faster with digital invoices, automatic reminders and electronic payments. Set alerts and speed up accounts receivable with electronic payments.
- Simplify Accounts Payable: Save half the time otherwise spent on getting paid from national and international vendors. Gain more control, flexibility and visibility with the variety of payment options. Direct bills and review the notes through pre-determined approval workflows
- Time Efficiency: Automate repetitive accounting tasks, such as invoicing and bank reconciliation, freeing up valuable time for strategic decision-making.
- Real-Time Financial Insights: Access up-to-date financial data and reports, enabling informed business decisions and proactive financial management.
- Scalability: Easily adapt to business growth with scalable features that accommodate increasing transaction volumes and complex accounting needs.
- Collaboration: Facilitate seamless collaboration between accountants, bookkeepers, and business owners through shared access to financial data.
- Cost Savings: Reduce overhead costs associated with manual accounting processes and minimize errors that could lead to financial discrepancies.
- Compliance Assurance: Stay compliant with local and international accounting standards and regulations, reducing the risk of legal issues.
- Data Security: Benefit from robust security measures that protect sensitive financial information from unauthorized access and data breaches.
- Customizable Reporting: Generate tailored financial reports that meet specific business needs, providing clarity and insight into financial performance.
- Integration Capabilities: Connect seamlessly with other business tools and applications, streamlining workflows and enhancing productivity.
- User-Friendly Interface: Navigate the software with ease, thanks to an intuitive design that reduces the learning curve for new users.
- Remote Accessibility: Access your accounting data from anywhere with an internet connection, supporting flexible work arrangements and remote teams.
- Cash Flow Management: Monitor and manage cash flow effectively, ensuring sufficient liquidity for operational needs and growth opportunities.
- Customer Support: Receive expert assistance and guidance from a dedicated support team, ensuring smooth operation and troubleshooting when needed.
- Environmental Impact: Reduce paper usage and contribute to sustainability efforts by digitizing accounting processes and documentation.
- Decision Support: Leverage analytical tools and insights to support strategic planning and enhance business performance.
- Automated Cleaning House Network: Get paid and receive payments faster with ACH payment processing that’s safe, speedy and cost-effective. Minimize the possibility of paper check theft with digital payments.
- International Payment: Send and receive payments from across the globe, and make workflows more efficient by processing domestic and international transactions for more than 130 countries.
- Automatically Sync the Data: Sync USD and local currency bills with leading accounting software packages like QuickBooks, Sage Intacct, Xero and Microsoft Dynamics 365 Business Central.
- Software Integration: Connect with the existing accounting software and allow data to flow between systems to keep everything up to date. Export information through templates, import bills and invoices to keep them up to date.
- Accounts Payable: Import invoices without any manual intervention. Get control, flexibility and visibility by using multiple payment options and tracking facilities.
- Accounts Receivable: Create and customize professional invoice templates for regular customers. Automate account receivables with automatic charges and payments. Get quick information on the receivables by tracking the status.
- Invoicing: Create and send professional invoices with customizable templates, ensuring brand consistency and clarity.
- Bank Reconciliation: Automatically match transactions with bank statements, reducing manual entry and errors.
- Expense Management: Track and categorize expenses efficiently, allowing for better financial oversight and control.
- Multi-Currency Support: Handle transactions in various currencies, ideal for businesses operating internationally.
- Project Management: Monitor project budgets and timelines, integrating financial data for comprehensive project oversight.
- Reporting: Generate detailed financial reports, including balance sheets and profit & loss statements, for informed decision-making.
- VAT Management: Automate VAT calculations and submissions, ensuring compliance with local tax regulations.
- Mobile Access: Access your accounting data on-the-go with a mobile-friendly interface, enhancing flexibility and responsiveness.
- Integration Capabilities: Seamlessly connect with other business tools like CRM and e-commerce platforms to streamline operations.
- User Permissions: Set specific access levels for different users, maintaining data security and integrity.
- Customer Support: Access a dedicated support team and comprehensive online resources for troubleshooting and guidance.
- Time Tracking: Record billable hours directly within the platform, simplifying invoicing for service-based businesses.
- Inventory Management: Keep track of stock levels and manage orders, ensuring efficient supply chain operations.
- Recurring Invoices: Automate the billing process for regular clients, saving time and reducing administrative workload.
- Dashboard Overview: Gain insights into key financial metrics with a customizable dashboard, providing a snapshot of business health.
Product Ranking
#25
among all
Accounting Software
#102
among all
Accounting Software
User Sentiment Summary
2020 reviews
1 reviews
Bill.com has a 'great' User Satisfaction Rating of 85% when considering 2020 user reviews from 5 recognized software review sites.
e-conomic has a 'fair' User Satisfaction Rating of 60% when considering 1 user reviews from 1 recognized software review sites.
Synopsis of User Ratings and Reviews
Users highly rate Bill.com's user-friendly interface, time-saving automation features, and excellent customer support. They appreciate the ability to easily track invoices, automate payments, and reconcile bank statements. Compared to other accounting software, Bill.com stands out for its seamless integration with popular business applications and its robust reporting capabilities. These strengths make it a valuable tool for businesses looking to streamline their financial operations and improve efficiency. While Bill.com excels in many areas, users have also noted some limitations. Some users find the software's pricing structure to be higher than competitors, and the lack of advanced inventory management features may be a drawback for businesses with complex inventory needs. Additionally, the software's reliance on an internet connection can be a concern for businesses that require offline access. Overall, Bill.com is an excellent choice for businesses seeking a user-friendly and efficient accounting solution. Its strengths in automation, integration, and reporting make it a valuable tool for streamlining financial operations. However, businesses with advanced inventory management needs or those requiring offline access may need to consider alternative options.
Is e-conomic really economical with the truth when it comes to user experience? User reviews from the past year paint a somewhat ambivalent picture of this cloud-based accounting software. While e-conomic is generally lauded for its user-friendly interface and comprehensive suite of features, including electronic invoicing and bank reconciliation, some users find that certain aspects, such as VAT reporting, necessitate a considerable amount of accounting knowledge, potentially posing a challenge for newcomers. This is akin to having a car with all the bells and whistles but needing a mechanic's certification to change a tire. A key differentiator for e-conomic is its robust automation tools, such as automatic invoice reading and attachment matching, which streamline tedious accounting tasks. However, the software's integration setup can be a bit of a head-scratcher, often requiring technical expertise. Furthermore, while e-conomic is praised for its cloud-based efficiency and secure data access, some users find the interface clunky, especially for more complex tasks, like navigating a labyrinthine library. In essence, e-conomic appears best suited for businesses with some existing accounting infrastructure and technical know-how, much like a seasoned chef who can fully utilize a professional-grade kitchen. Smaller businesses or those lacking technical expertise might find the learning curve a tad steep.
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