Financial technology platform Intuit has launched a new solution fully integrated within Intuit QuickBooks, dubbed QuickBooks Bill Pay, to transform bill pay for businesses and deliver accounts payable (AP) automation.

The new fully integrated, Intuit-built solution addresses the bill pay requirements of businesses of any size, including the ability to generate seamless approval workflows.

Intuit said its QuickBooks platform is a portfolio of robust financial and accounting tools, to deliver the benefits of simplicity, speed and accuracy to help businesses manage their money more effectively.

The company also said that small businesses save valuable time with manual entry reduced by 48% with QuickBooks’ integrated AP automation capabilities.

Intuit QuickBooks money platform senior vice president David Talach said: “Across the QuickBooks platform, we’re revolutionising money movement to improve the number-one problem small businesses face – cash flow – which impacts their success rates.

“QuickBooks Bill Pay is a key addition to our ecosystem as we aim to deliver a singular, end-to-end financial solution for small businesses to manage their money.

“Integrating Bill Pay with our other money offerings enables our customers to leverage game-changing automation capabilities and have the visibility and clarity they need when it comes to their finances.”

QuickBooks Bill Pay offers time-saving automation, digitised record-keeping, seamless payments for small and mid-sized businesses.

It also provides advanced controls with roles and permissions for their team and simplified vendor and contractor management.

Besides, the new solution is expected to improve the Intuit QuickBooks Business Network, which is said to be one of the largest business-to-business (B2B) networks to expedite and automate B2B payments and improve overall cash flow.

Furthermore, QuickBooks Bill Pay will enable businesses to create bills automatically, assign ownership roles to employees, organise their books as well as to go paperless and stay tax ready.