BILL Expands Most Comprehensive Financial Operations Platform for SMBs with Powerful Predictive Cash Flow Tools
Businesses can gain the confidence they need to fuel better decisions faster
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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
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:
- 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
"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
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
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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@hq.bill.com
IR Contact:
ksansot@hq.bill.com
Source: BILL