SAN JOSE, Calif. - BILL (NYSE: BILL), a financial operations platform for small and midsize businesses, has launched new features aimed at enhancing cash flow forecasting and insights. The new tools, BILL Insights and BILL Cash Flow Forecasting, are integrated into the existing BILL Financial Operations Platform, which offers accounts payable, accounts receivable, and spend and expense management solutions.
According to the company, these enhancements aim to provide SMBs and their accountants with the ability to predict future cash flow, understand financial trends, and make more informed business decisions. The features are currently available to select customers and are expected to be widely released in the first quarter of 2024.
BILL's Chief Product Officer, Irana Wasti, emphasized the importance of timely and actionable data for SMBs, especially given the complex economic landscape. She noted that these new offerings are a result of integrating technology from the company's acquisition of Finmark.
Research from BILL indicates that only 38% of SMBs use dedicated financial and analysis planning tools, while their 2024 State of Financial Automation Report found that 84% of respondents believe automated financial operations can enhance decision-making. The new tools from BILL are designed to address the lack of visibility into cash flow trends and financial opportunities that many businesses face.
The Cash Flow Forecasting feature uses historical accounting data to generate forecasts and provide dashboards with key cash flow metrics. It also allows businesses to compare budgets against actual cash flow and run "what if" scenarios. BILL Insights offers dashboards to quickly view financial metrics and uncover trends to optimize business decisions.
Feedback from SMBs and accountants has been positive, with finance managers and CFOs of various firms finding value in the automated dashboards and the ability to provide clear visibility of cash flow to stakeholders.
The initial release of BILL Cash Flow Forecasting is compatible with QuickBooks Online, with plans to integrate with other accounting software later in the year.
This article is based on a press release statement from BILL.
InvestingPro Insights
As BILL (NYSE: BILL) continues to innovate with its BILL Insights and BILL Cash Flow Forecasting tools, the company's financial health and market performance provide a context for these developments. With a market capitalization of $6.67 billion, BILL demonstrates significant industry presence. The company's aggressive share buyback strategy, as noted in one of the InvestingPro Tips, signals management's confidence in the company’s value and future prospects.
From a financial standpoint, BILL's gross profit margin stands out at an impressive 85.65% over the last twelve months as of Q2 2024, indicating strong operational efficiency in generating revenue. This aligns with the company's focus on providing financial insights and cash flow forecasting for SMBs, showcasing its own expertise in managing financial health. Furthermore, the company's liquidity is robust, with liquid assets that exceed short-term obligations, providing them with a stable platform to support ongoing investments in product development and market expansion.
While the company has not been profitable over the last twelve months, analysts are optimistic, predicting profitability for this year. This is underscored by the fact that 19 analysts have revised their earnings expectations upwards for the upcoming period, a potential indicator of BILL's improving financial trajectory and a reflection of market confidence.
For readers interested in a deeper dive into BILL's financial metrics and future outlook, there are additional InvestingPro Tips available, including insights into stock price volatility and the company's performance over various time frames. To access these valuable tips and make more informed investment decisions, visit https://www.investing.com/pro/BILL and use coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.