BILL Expands Most Comprehensive Financial Operations Platform for SMBs with Powerful Predictive Cash Flow Tools
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The introduction of BILL Insights and BILL Cash Flow Forecasting by BILL (NYSE: BILL) represents a significant advancement in financial operations technology for small and midsize businesses (SMBs). The ability to accurately forecast cash flow is a critical component of financial management, especially for SMBs that may have less access to capital and more sensitivity to cash flow volatility. The integration of these tools into a single platform could streamline operations, reduce the risk of cash flow issues and potentially improve the financial stability of SMBs.
The emphasis on leveraging historical accounting data to generate forecasts and provide actionable insights aligns with the broader industry trend towards data-driven decision-making. The potential market impact is substantial, considering that SMBs account for a vast majority of U.S. businesses. If BILL's new offerings can effectively improve decision-making and financial planning for SMBs, there could be a ripple effect leading to increased business stability, growth and potentially positive stock performance for BILL as adoption increases.
The financial tools provided by BILL could translate into improved liquidity management for SMBs, which is paramount for their operational continuity and long-term viability. The claim that only 38% of SMBs use dedicated financial analysis tools suggests a significant market opportunity for BILL to expand its customer base. Moreover, the acknowledgment that 84% of SMBs see the value in automated financial operations indicates a favorable market sentiment towards adoption.
The strategic timing of this release, set for wider availability in Q1 2024, positions BILL ahead of potential economic shifts where businesses may seek greater control over their finances. Investors should monitor the uptake of BILL's new offerings and the subsequent impact on the company's financial performance. Success in this area could foster investor confidence and lead to a reassessment of BILL's market value.
From an economic perspective, the tools that BILL is offering could contribute to the overall health of the SMB sector, which is a cornerstone of the U.S. economy. Improved financial operations and cash flow management can lead to more efficient allocation of resources within SMBs, potentially leading to economic growth and job creation. However, the adoption rate of such technologies and the ability of SMBs to effectively utilize them will be key determinants of the actual economic impact.
It is also important to consider the competitive landscape. As BILL integrates technology from its acquisition of Finmark, it is enhancing its value proposition, which could disrupt the current market dynamics for financial operations platforms. The ability of BILL to differentiate itself and capture market share from competitors will be an important factor to watch in the coming quarters.
Businesses can gain the confidence they need to fuel better decisions faster
(Graphic: Business Wire)
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
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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:
- Predict future cash flow: Leverage historical accounting data to quickly generate cash flow forecasts. Look ahead up to thirteen months with predictive cash flow modeling.
- Get timely cash flow visibility: Access cash flow dashboards with metrics including cash in and cash out, net cash flow, and cash balance.
- Stay on track with visual cash flow metrics: Track business performance by comparing budgets against actual cash flow. Easily run “what if” simulations to forecast how business decisions could impact future cash flow.
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:
- Scan key metrics quickly: Use easy-to-understand dashboards to view financial metrics such as top vendors by amount paid, average days to pay, aging summary, and more.
- Take action to optimize business: Uncover trends and opportunities to redirect business resources. Renegotiate payment terms, spot unusual spikes in bill amounts, and identify ways to speed up AP payment processes.
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.”
Availability Overview
- 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.
- Initial release of BILL Cash Flow Forecasting syncs accounting data from QuickBooks Online. Future integrations with other accounting software platforms are coming later this calendar year.
Learn More
- Read more from Irana Wasti, Chief Product Officer at BILL, about how your business can benefit from cash flow forecasting and insights tools to help you make more confident business decisions, faster.
- Read about the advantages of automated financial planning and analysis for accounting firms.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240305697281/en/
Press Contact:
John Welton
john.welton@hq.bill.com
IR Contact:
Karen Sansot
ksansot@hq.bill.com
Source: BILL
