Bill.com pricing & discount strategies
Aimee Manning | NOV 01, 2022
Rated as the leading provider of accounting and finance software by G2, Bill.com is fast becoming the tool of choice for many organization’s financial operations. Just take the fact that its customer count grew by 30% in the last year alone.
As with any software purchase though, the decision on whether to subscribe to Bill.com or choose an alternative solution is one that is largely driven by price.
Problem is, all Fintech vendors have been found to obscure at least some of their pricing online — which is somewhat ironic given the very nature of their offering — making it increasingly difficult for buyers to make informed purchasing decisions and gain the leverage they need to secure the best price possible.
But this doesn’t have to be the case.
In this article, we’ve not only shone a light on Bill.com’s pricing, but we’ve also outlined proven strategies for getting a discount on your next subscription.
How much does Bill.com cost?
While it’s true that 100% of Fintech vendors obscure at least some of their costs, we should point out that Bill.com is relatively forthcoming with its pricing — other than for its Enterprise plan that is.
For its other five plans, the prices are pretty clear, ranging from $45 to $79 per user, per month, depending on the number of users needed and whether you’re looking to manage accounts payable, accounts receivable, or both.
Let’s look at each of the plans in more detail.
Bill.com’s list prices
While Bill.com’s most comprehensive plan allows you to both pay and receive bills, the vendor does also offer two more stripped back plans, meaning you can use it to do one or the other for a lower cost, as shown in the images below.
Regardless of which plan you opt for, cost remains the same — $45 per user, per month for its Essentials plan (which allows for up to six standard user roles) and $55 per user, per month for its Team plan (which allows custom user roles and integrations with both QuickBooks and Xero).
If, however, you’re looking to use Bill.com for both accounts payable and accounts receivable, it will cost you $79 per user, per month on its Corporate plan.
Should you need integrations beyond Quickbooks and Xero, as well as functionality such as SSO and dual control, you may be better suited to its Enterprise plan.
But how much does it cost?
How to find out Bill.com’s Enterprise-level pricing
While the complex nature of an Enterprise plan makes it difficult for vendors to publish a one-size-fits-all cost, this lack of transparency means that buyers have no frame of reference when it comes to pricing.
Which means they have no leverage when it comes to negotiating a better price.
But what if it was possible to find out the average cost of Bill.com’s Enterprise-level plan? Without having to scour through outdated and unreliable forum pages, that is.
Well it is. At Vertice, we have a database of pricing points and transactional data for tens of thousands of global software vendors — Bill.com included. You can find out how much other companies are paying for Bill.com by getting in touch with us here.
Negotiating a discount on Bill.com’s pricing
Regardless of which plan you’re looking to subscribe to, the important thing to be aware of is that the prices listed are rarely set in stone and can be negotiated. This applies to almost all SaaS vendors.
Which means that there are almost always ways to secure cost savings for not only Bill.com, but all of your SaaS subscriptions.
Commit to a longer-term plan
Perhaps the simplest way to secure a discount is by committing to a longer term plan. And we’re not just talking annual discounts.
If Bill.com is expected to be a solid fixture in your SaaS stack over the next few years, it may well be worth negotiating a multi-year contract to further drive down the cost of your subscription.
In fact, given that it’s in a vendor’s interest to secure repeat custom, it’s worth putting it on the table as an option. After all, our research suggests that vendors typically increase their discount by an extra 5% for every additional year you commit to. So, for those that may offer a 20% annual discount, they will often increase the discount to 25% for a two year contract and 30% for a three year contract.
But this isn’t the only way to reduce the cost of Bill.com.
Leverage the power of competition
Whether you’re genuinely considering an alternative to Bill.com or you simply want to give yourself more leverage when it comes to negotiating a better price, it doesn’t hurt to shop around and get quotes from different vendors.
In fact, doing so can put you in a much stronger negotiating position when it comes time to renew your subscription with Bill.com.
Have Vertice secure you a better price
Negotiating better pricing for any SaaS tool is often easier said than done. Firstly, gaining leverage can be challenging enough — not just competitor pricing, but also the ‘real’ vendor pricing that other companies are paying.
Then, there’s the time it takes to handle these negotiations. Time that many organizations simply don’t have, which is another reason why so many end up paying the average 9% price increase that comes with an auto renewal.
Fortunately, Vertice can take the burden of renewing, managing and buying software off your hands. This includes negotiating on your behalf, while using the price points and transactions of more than 13,000 global SaaS vendors to secure you the best possible deal and terms on any of your contracts.
Want us to help you negotiate a better deal with Bill.com? Get in touch with us here.