Businesses can gain the confidence they need to fuel better decisions faster
SAN JOSE, Calif. – March 5, 2024 – BILL (NYSE: BILL), a leading financial operations platform for small and midsize businesses (SMBs), today announced innovative cash flow forecasting and insights capabilities designed to empower SMBs and their accountants to predict future cash flow, understand trends and opportunities, and make better business decisions, faster.
The new offerings, BILL Insights and BILL Cash Flow Forecasting, are integrated into the BILL Financial Operations Platform, which already provides category-leading accounts payable (AP), accounts receivable (AR), and spend and expense solutions. With these new enhancements, BILL delivers the most comprehensive financial operations platform enabling SMBs to optimize, manage, and forecast cash flow within a single platform. BILL Insights and BILL Cash Flow Forecasting are currently available to select SMB and accountant customers of BILL and will become more widely available in calendar Q1 2024.
“For SMBs, data drives success. Decisions on how, when, and where to allocate capital, make new investments, or adapt business strategy require timely forecasting and insights capabilities that are actionable,” said Irana Wasti, Chief Product Officer at BILL. “This is the first integration of innovative technology from our acquisition of Finmark into our platform since it was completed. We are now delivering even more powerful and comprehensive tools that will help SMBs better manage their cash flow and optimize their business for success.”
SMBs Need Clarity, Control, and Confidence
SMBs are resilient, but they are operating in a complex and changing economic and business environment. There are 33 million SMBs in the US, comprising 99.9% of all US firms. The strategic financial and business decisions made by every one of these SMBs today, will determine their ability to grow and succeed into the future. The challenge for SMBs is that without timely and actionable data and insights, they are left guessing at their future.
Only 38% of SMBs are using dedicated financial and analysis planning tools according to research from BILL. In addition, according to The BILL 2024 State of Financial Automation Report, 84% agree that automated financial operations can help to provide the insights needed to improve decision-making. Many businesses lack visibility into cash flow trends or financial opportunities which could help them make better business decisions. BILL is changing that, by removing the guesswork of cash flow forecasting and decision-making.
Predict Future Cash Flow and Get Timely Visibility Into Business Performance
BILL Cash Flow Forecasting provides SMBs with the clarity and control needed to manage business today and confidently plan for tomorrow. BILL leverages accounting data to quickly generate forecasts to fuel better business decisions.
Key Benefits Include:
Identify Financial Trends to Maximize Business Potential
BILL Insights delivers visibility into AP trends with out-of-the-box dashboards. The visual guide provides a view of financial metrics to help businesses spot actionable trends and proactively identify opportunities to take action to optimize decisions, faster.
Key Benefits Include:
SMBs and Accountants Are Excited About BILL Insights & Forecasting
"The ability to curate automated dashboards and cash flow forecasts quickly for stakeholders throughout our organization is incredibly valuable," said Jennifer Dent, Senior Finance Manager at 1021 Creative. "Given our international scope, it's imperative that our regional managers have clear visibility and an understanding of their respective cash flow. The enhanced BILL platform empowers me to equip our teams with the insights needed to propel our business forward with confidence."
"Having visibility into actionable insights and cash flow forecasts for our clients is an important part of our commitment to providing top-tier financial guidance,” said Don Needs, CFO of accounting firm Jitasa. "Automated dashboards and predictive cash flow modeling complement our services and simplify our tech stack, making our work more efficient and impactful. I look forward to helping our clients get more clarity over their finances with these new tools enabling them to maximize their business potential.”
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About BILL
BILL (NYSE: BILL) is a leading financial operations platform for small and midsize businesses (SMBs). As a champion of SMBs, we are automating the future of finance so businesses can thrive. Our integrated platform helps businesses to more efficiently control their payables, receivables and spend and expense management. Hundreds of thousands of businesses rely on BILL’s proprietary member network of millions to pay or get paid faster. Headquartered in San Jose, California, BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and accounting software providers. For more information, visit bill.com.
Contacts
Press Contact:
John Welton
john.welton@hq.bill.com
IR Contact:
Karen Sansot
ksansot@hq.bill.com
Source: BILL