This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Bank Of America Merrill Lynch Introduces CashPro® BillPay

Stocks in this article: BAC

Bank of America Merrill Lynch today announced the addition of CashPro ® BillPay to the firm’s suite of payments solutions for business clients. CashPro BillPay helps small- to medium-sized companies move to a paper-free payments process that allows more automation, control and precision in payments timing and cash flow.

CashPro BillPay is fully integrated with CashPro Online, BofA Merrill’s client access channel designed to deliver the firm’s power through convenient access, with robust security features, to a broad range of comprehensive capabilities. It complements BofA Merrill’s existing payments products designed for clients ranging in size from large corporations to small businesses. CashPro BillPay is provided by BofA Merrill through a relationship with Bill.com, a leading business payments network company in which Bank of America has a partial ownership interest.

“With CashPro BillPay, small- to medium-sized companies now have an easy-to-use payments application that integrates seamlessly with most widely used accounting packages,” said Cindy Murray, head of Global Treasury Product Platforms and eChannels for BofA Merrill. “Instead of asking our clients to change the way they work to fit in with us, we are integrating our payments channels into the workflow in which they already operate.”

CashPro BillPay can make it easier for companies to move toward a more efficient, paperless operation by eliminating manual invoice processing and in-house paper check production. Through this tool, companies can easily upload invoices into the application, route them for approvals and schedule both electronic and paper payments. In addition:

  • All check production is handled by BofA Merrill, eliminating the need for physical signatures, check printing equipment, mailing and storage.
  • A document repository provides a central place to digitally store important items such as past invoices, monthly bills and related contracts, all easily accessible to a company’s multiple users and locations.
  • All clients will have access to a large vendor directory, allowing them to instantly link with vendors for electronic payments without the need for bank account information.
  • A comprehensive fraud management program for paper checks is integrated directly into the system.

“When our clients utilize CashPro BillPay, they are able to spend less time managing their manual accounts payable and payments processes and more time focusing on growing their business,” said Galen Robbins, head of Global Commercial Banking Transaction Services for BofA Merrill. “CashPro BillPay makes it easier for them to manage their routine payments, be more efficient and leverage their existing accounting packages. We can help our clients spend less time managing internal processes and more time growing their business and serving their clients.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs