Paying bills. Like Monday-morning traffic and the education system, nobody likes it, but most of us have to deal with it nonetheless. Thankfully, there are now startups that have taken it upon themselves to make that otherwise uncomfortable process more bearable. In fact, there are enough that we dedicated an article to them. BillTrim joins that group with a service that claims to find bill deductions through negotiation. They have also negotiated their way into 500 Startups, where they are part of Batch 21 of the accelerator.
Image courtesy 500.co
BillTrim’s CEO Dipesh Desai tells me that they “use technology and group of amazing professional negotiators to reduce your bills.” It’s the professional negotiators who actually go about the process of obtaining bill deductions. They contact providers on customers’ behalf and identify discounts, loyalty offers, promotional rates or even information on competing services which could be leveraged in a negotiation. The technology layer is used to scale that process, making it simpler for the team to deal with more bills and service providers.
Customers can upload their bills to BillTrim as PDFs, email the invoices, or just provide the login details to individual accounts. The service currently handles cable, auto insurance, electricity, cell and home phone, internet, and home security payments, so most basic amenities are covered. They plan on adding more services to the system over time.
BillTrim doesn’t have a fixed time period within which it promises to get the bill deductions. They do, however, have a track record of negotiating reductions before the following billing cycle begins. The startup takes a 25 percent cut of the savings they can broker, making it a risk-free prospect for customers. “BillTrim’s future is the One Bill app, which allows users to pay us for their bills and we manage the providers,” Desai reveals.
The startup has its origins in a fortuitous encounter Desai had with NFL veteran Matt Turk. “I used to run a reverse logistics operation called Housenkid, and Matt walked into my warehouse to buy a bathtub,” Desai recollects. He used the opportunity to pitch BillTrim, on which he was already working with his cousin Anu Sura. Turk hopped on board, which set the ball rolling on more robust operations.
BillTrim is part of 500 Startups’ Batch 21, which kicked off in April. 31 companies are part of this latest batch, which over the next four months will be guided through the accelerator program. “Scaling the negotiation process, a more efficient sales funnel, and raising investment to reach our next milestones” is what BillTrim hopes to gain from its time at 500 Startups, according to Desai. Comcast probably hates them, but if they can get things right, BillTrim stands to have consumers everywhere rooting for them.
Prateek Jose
Prateek Jose is a writer and engineering undergrad from India with an unhealthy obsession for obscure historical trivia. Conversations about absurdist fiction and the technological singularity make his day. He’s already uploading parts of his brain to servers by writing for websites such as this one.
Yes it sounds definitely worth a try considering it is risk-free/cost-free. I’ve heard some pretty good testimonials from a couple of users too.
I would give this company a run. its risk free and at the same time, if they do find a bill I was paying too much for, I will be wondering why the company I was paying didn’t come forward to say something!
For a little bit of my bills to get cut each month, I would pay a broker 25% of the savings! Its no risk!
As long as a service like this is risk-free for the consumer, I see no reason that you wouldn’t want to try it out. Some people just pay bills blindly and are taken to the cleaners at the same time.
Yes it sounds definitely worth a try considering it is risk-free/cost-free. I’ve heard some pretty good testimonials from a couple of users too.
I have heard about more places allowing for negotiations on bills. Of course, this helps the consumer, but what percentage is really going to benefit?