What to look for in business bill pay software — beyond basic payments

As a startup or early-stage business, you’ve probably searched for the best bill pay software to simplify how money moves in and out of your company. But when payments and receipts are the backbone of daily operations, bill pay software is more than just a way to send money — it’s a core part of how you manage time, risk, and growth. 

Most bill pay software for businesses checks the same basic boxes: send a payment, then record the transaction. But the real value — especially for startups and scaling businesses — comes from what happens before and after the payment. The right software can unlock real-time visibility, reduce busywork, and de-risk spend, turning bill pay into a growth enabler.

In this article, we’ll move beyond the default bill-pay checklist and unpack what truly modern, startup friendly bill pay software should include. We’ll also explore how AI is reshaping bill pay, and why user experience (UX) matters more than you think. By the end, you’ll have all the information you need to select the best bill pay software to meet your company’s needs. 

The best accounting software for paying bills will, of course, be able to send money efficiently. But that’s not the only criteria you should use in your evaluation process. Here are some features that separate basic bill pay software from the tools that actually make your life easier. 

Centralized vendor management

The best bill-paying software provides a way to centralize vendor management in one integrated hub. That means contact information, W-9 forms, tax IDs, payment history, and other relevant notes all live in one place, and they aren’t scattered across email threads and Google Drive folders. That way, when it’s time for year-end reporting or other documentation, you won’t have to scramble and frantically dig through your inbox.

Multi-approver workflows that match how your team works

In the early-stages, the founder may be the person approving every bill. But this inevitably changes as teams expand and spending patterns shift. Approval processes will shift, too. For instance, your $50 software subscription may not need the same approval process as a $15,000 contractor payment. The best bill paying software allows you to set flexible approval rules based on amount, vendor, or team, removing bottlenecks and speeding up your processes. 

Custom metadata for clarity and context

As spending increases, you’ll need a clearer picture of how money is being used across the business. Custom metadata allows teams to tag bills by department, campaign, or general ledger (GL) code as they’re processed. This eliminates the financial backtracking that happens when you’re trying to figure out what a payment was for weeks after it was made.

Audit trails for transparency and confidence

Growing teams need clear records of every step for visibility and transparency. The best accounting software creates full audit trails, which automatically provides easy visibility into who gave which approvals and when. 

Real-time syncs with your bank and books

Bill pay software that provide real-time synchronization between your bank accounts and accounting records ensures that teams are always looking at the full picture.

AI is changing how teams operate across startups and businesses. In bill pay, it’s being used to streamline workflows and improve accuracy. Here are a few ways AI adds value.

Capturing data from invoices

AI-powered optical character recognition (OCR) can extract data from invoices, such as pulling vendor names, amounts, due dates, and invoice numbers directly from PDFs or screenshots. That means less manual data entry and fewer errors. 

Predictive categorization and anomaly detection

AI is able to suggest the right GL codes or categories for expenses, which saves reconciliation time and improves reporting accuracy. At the same time, AI can flag anomalies, like unexpected amounts, duplicate charges, or unusual payment times, so teams can catch issues early. 

Reducing human error (without losing human insight)

By automating validation and consistency checks across invoices, vendors, and payment details, AI minimizes common sources of errors and reduces busywork. Humans still stay in charge of decisions, like reviewing and approving payments, but with less administrative work and fewer details slipping through the cracks. 

Fintech services with the best bill pay features don’t just have the best features; they’re also easy to use. If your tool is clunky or creates unnecessary friction, your team may procrastinate on work that requires using that software, or they may not use it at all.

The best bill paying software should include the following capabilities.

Fast and easy approval process

If someone has to create an account, remember a log-in, and learn to navigate a new tool just to approve a $50 invoice, they might be inclined to delay the task. The best bill paying software allow users to approve bills directly within email or mobile notifications, or through one-click links that take them directly to the approval screens — no log-in required.

Ability to automate low-risk vendors

For recurring and low-risk payments, admin should be able to set-up autopay to reduce manual approvals while still maintaining control for new and high-value payments. This is one of the key advantages of using bill pay software as transaction volume increases.

Searchability, notifications, and mobile workflows

Often, it’s the small details that reduce friction and add up to the best experience, like having the ability to quickly search for past payments or vendors and being able to approve payments on the go. Teams that have bill pay tools with these kinds of user experience details are able to save more time and avoid delays. 

When it comes to bill paying software, your needs as a startup will be different from the needs of large, established enterprises. Look for flexibility that allows you to shift responsibilities quickly. Your bill pay tool should make it easy to reassign approvers, update permissions, and adjust workflows, without having to call IT. 

Visibility matters, too. Early-stage teams often have more than one founder, no dedicated finance hire, and shared bank access. So, it’s important to have a software that gives you insight into who is doing what. 

Accounts payable shouldn’t take hours of founder time. Finding the right software that offers checking accounts with automatic bill pay features is a core business need. 

A three-person startup with 15 monthly vendors won’t need complex approval workflows, but may prioritize having visibility and efficient systems that save time. In contrast, a growing team with a part-time finance hire will likely need multiple approver chains, department tagging, and audit trails. 

Basic bill pay vs. advanced functionality across business sizes

Here’s a framework that maps out how teams use advanced functionality, depending on business size.

Modern bill pay software should give you leverage, not just another login. If your current bill pay tool only sends money, it might be time to upgrade. 

Before choosing your next solution, identify the areas where friction shows up in your accounts payable process and make note of which workflows you wish were smoother. This will help you decide what’s important for your business at this stage. The best bill pay software will help you save time, reduce errors, and scale as your company grows. If you’re ready to turn bill pay into a true advantage, explore Mercury’s bill pay tools today.