What's the difference?
It's the company who is footing the bill.
The company is footing the bill.

What's the difference?

Thanks a lot.

Question

What's the difference?
It's the company who is footing the bill.
The company is footing the bill.

What's the difference?

Thanks a lot.

Answer

They both mean the same. It appears as if the first sentence is in response to a question, as if the person was asked who is footing the bill. The second one looks like it is being stated simply

Answer

The second sentence sounds neutral, just stating a fact. The first sentence emphasizes that it's the company paying for it, as opposed to anyone else.