Payment solutions provider
"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."
Bill Cash Flow Forecasting uses accounting data to generate forecasts that users can employ to guide further business decisions. It allows users to look up to 13 months ahead with predictive cash flow modeling; access cash flow dashboards with metrics like cash in and out, net cash flow and cash balance; and use visual cash flow metrics to track business performance by comparing budgets against actual cash flow, which allows people to run "what if" simulations that estimate how business decisions could impact future cash flow.
Meanwhile, Bill Insights provides a visual guide that offers a view of financial metrics so users can spot actionable trends and proactively identify opportunities for optimization. Specifically, users will be able to access dashboards to view financial metrics such as top vendors by amount paid, average days to pay, aging summary and more; and uncover trends and opportunities to do things like renegotiate payment terms, spot unusual spikes in bill amounts, and identify ways to speed up AP payment processes.
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 the first quarter of this year. The initial release of Bill Cash Flow Forecasting syncs accounting data from QuickBooks Online. Future integrations with other accounting software platforms are coming later this year.
