Bluevine Launches Accounts Payable Offering for Small Business Owners

Bluevine has launched an accounts payable (AP) offering for small businesses.

Built to simplify payments management from within Bluevine Business Checking accounts, this solution gives small business owners access to features that will help them save time and money, the company said in a Monday (July 31) press release.

“As small businesses scale, often they face more complexity in managing their operations,” Bluevine Senior Vice President and General Manager of Banking Charles Amadon said in the release. “Our accounts payable solution is purpose-built to strike a balance between providing a robust set of AP automation tools, with the ease of use that our customers have come to expect from Bluevine.”

With AP through Bluevine, small business owners have access to a suite of features designed to automate all the steps of the AP process, according to the release. This includes bill capture and storage, approval workflows, payment scheduling, automatic accounting reconciliation and user provisioning and management.

The new solution joins Bluevine’s small business banking solutions that have so far helped more than 500,000 entrepreneurs access business checking, bill pay and line of credit, the release said.

Small to medium-sized businesses (SMBs) require spend management tools because they need “full visibility into how they are doing,” Bluevine Chief Product Officer Herman Man told PYMNTS in an interview posted in August 2021.

“At the end of the day, small businesses in many cases are not financial professionals, … so it is really important for a banking partner [such as] Bluevine to help them understand their financial position and provide them the tools [they need to] manage their financials effectively through[out] their life cycle,” Man said at the time.

Traditional spend management models — in which companies implement multiple solutions from multiple providers — are rapidly becoming obsolete in a world in which successful budgeting means a business must have immediate, transparent access to all its spending data, Man said. Having both working capital and the tools to manage it all in one place could provide a crucial advantage to SMBs looking to better manage their spending and stay competitive.

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