SMBs are the heart of Bill.com
16 years ago I started Bill.com with the belief that small businesses deserve more innovation focused on them. When given access to the technology that is custom built for them as happens with enterprise companies, they flourish. My passion and care for SMB’s runs in my blood and it is why I’ve spent the last three decades building for and serving SMBs. I remember thinking, “Why should these businesses have to manage their cash flow the same way my grandfather did 60 years ago?”
Technology is accelerating and enabling change across our economy. More and more we depend on SMB’s to be the glue behind our communities and to drive innovation that fuels progress around the world. And technology has moved from being a barrier to an enabler. As the economy depends on SMBs’ success more than ever, all of us at Bill.com are inspired by these businesses. Inspired because SMBs are estimated to represent 50% of the U.S. GDP and nearly 40% of total payroll. When they flourish, it strengthens our communities and the economy overall. SMBs have proven their resilience and problem solving DNA most recently by weathering a number of different macroeconomic challenges. These macro forces have been a catalyst for digital transformation for many businesses.
Since the beginning, we’ve focused on building a trusted product that is purpose built for SMBs --- including capabilities to serve and integrate with accountants, financial institutions and accounting software. Our recent acquisitions of Divvy and Invoice2go have added important and unique capabilities that enable us to better serve these customers.
If you’re a small or midsize business and you know you need digital tools to help you succeed there’s no better time than right now. We hear time and time again from our customers that they can save 50% or more of their time on their AP finances - think what you could do with that time!
We know you have choices, and that’s a good thing. We’ve spent the last 16 years building software to help you succeed and our door is always open for you.
CEO and Co Founder at GoCo Inc
2yRené Lacerte your passion for SMBs is contagious.
𝗖𝗘𝗢 𝗛𝗲𝗮𝗹𝘁𝗵𝘆𝗢𝗽𝘀 Talks about | innovation | ecosystems | startups | strategy | gtm | fintech / healthtech / agetech | convergence | AI | NLP | LLMs | GenAI | ELG |
2ySo true. Those of us who "live inside" the SMB world both as current or former small business operators, or those presenting services that SMBs use (via large enterprises), know this reality. A kind of axiom used to be that "those who are exceptional at doing/building/making/serving others, aren't necessarily also blessed with being great bookkeepers, billers, staff managers, and the like." And so we also see, historically, very talented entrepreneurs/business owners failing at the frightening US Bureau of Labor Statistics figure of "about two-thirds of small businesses with employees survive at least 2 years and about half survive 5." With sensible and pragmatic help from service providers to keep the finances, back office, and marketing in good order, and most importantly the receivables rolling in to balance cash-flow, and payables handled promptly before they stack up, it stands to reason that the early failure rate would drop, and more small companies would survive and thrive. The trick it seems, is to get those small businesses the back-office/infrastructure help early. And since cash is king, A/R & A/P billing seems like a great anchor to the tool kit. Keep up the great work, René Lacerte & team.
Chief Revenue Officer
2yWell said!