BILL is adding new cash flow forecasting and insights capabilities to its financial operations platform for small- to medium-sized businesses (SMBs).
These predictive cash flow tools are designed to provide SMBs and their accountants with information that will help them make better business decisions, faster, the company said in a Tuesday (March 5) press release.
“For SMBs, data drives success,” Irana Wasti, chief product officer at BILL, said in the release. “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.”
These new capabilities will be integrated into the BILL Financial Operations Platform, according to the release. They are now available to select customers, and they will become more widely available by the end of the first quarter.
One new offering, BILL Cash Flow Forecasting, leverages accounting data to generate forecasts, the release said. It helps SMBs predict future cash flow, get timely cash flow visibility and track business performance with visual cash flow metrics.
The other new offering, BILL Insights, provides visibility into accounts payable (AP) trends, per the release. It features easy-to-use dashboards that help SMBs scan key metrics quickly, uncover trends and opportunities, and renegotiate payment terms.
The introduction of these predictive cash flow tools marks the BILL platform’s first integration of technology from SMB financial planning company Finmark, which BILL acquired in November 2022, Wasti said in the release.
“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,” Wasti said.
When announcing the completion of its acquisition of Finmark in November 2022, BILL said the move would expand BILL’s SMB planning and cash flow analytics capabilities, meeting a demand that businesses are clamoring for to operate in the most efficient way possible.
In February, during a quarterly earnings call, BILL CEO and Founder René Lacerte said the company continues to innovate and focus on initiatives that create value for its customers.
“With our powerful platform, expanding ecosystem and increasing scale, we are uniquely positioned to be the essential financial operations platform for millions of SMBs,” Lacerte said.
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