How many companies use Bill com?
Around the world in 2024, over 2424 companies have started using Bill.com as Bookkeeping And Accounting tool.
Market cap: $6.38 Billion
As of April 2024 Bill.com has a market cap of $6.38 Billion.
Business Highlights and Recent Developments:
Served 461,000 businesses using our solutions as of the end of the fourth quarter. This included 201,000 BILL standalone customers, 29,200 spending businesses that used our Divvy spend and expense management solution, and 230,800 subscribers that used Invoice2go.
BILL is used by a wide variety of professional service organizations, including: technical service organizations, systems integrators, system services providers, value added resellers, consulting agencies, legal firms, security services, marketing and advertising agencies, architecture and design companies, and more.
So in summary, Bill.com does not take a direct percentage of payments. Their revenue comes from the monthly subscription fees per user as well as per transaction fees. When paying via card, you can expect to pay the 2.9% card processing fee on top of the transaction amount.
Bill.com has market share of 0.60% in billing-invoicing market. Bill.com competes with 317 competitor tools in billing-invoicing category. The top alternatives for Bill.com billing-invoicing tool are QuickBooks with 33.41%, Square Point of Sale with 9.02%, NetSuite with 6.50% market share.
Bill.com is a Nacha Certified Third-Party Sender | Nacha.
BILL also provides bill payment services on behalf of our partners to service their customers (“Partners”). Our Partners include some of the leading banks in the United States, including Commerce Bank, First National Bank of Omaha, JP Morgan Chase, KeyBank, PNC, and Wells Fargo.
According to Bill.com's latest financial reports the company's current revenue (TTM) is $1.19 B. In 2022 the company made a revenue of $0.85 B an increase over the years 2021 revenue that were of $0.41 B. The revenue is the total amount of income that a company generates by the sale of goods or services.
Bill.com generated $642 Million in 2022. Bill.com generates revenue primarily from subscription and transaction fees. Bill.com's subscription revenue is primarily based on a fixed monthly or annual rate per user.
How long has Bill.com been around?
René founded BILL in 2006 after recognizing that business owners needed a way to simplify payments so they could focus on their business.
Bill.com gives you the ability to configure multiple approvals on bills for checks and balances so the same person who codes the bills doesn't pay the bill this ensures someone else in your organization monitors the bills.
BILL servers and network infrastructure are hosted at secure data center facilities managed by leading certified data center providers. All BILL employees undergo background checks and data security and privacy training. BILL has a formal vendor management program to manage third-party risks.
The main difference between Bill.com and QuickBooks Online is their focus. QuickBooks Online is a comprehensive accounting solution, while Bill.com is a specialized tool for managing accounts payable and receivable.
Your vendor will receive payment via ACH ePayment or check. Pay By Card supports Amex, MasterCard, Visa, Discover, and debit cards.
Feb 28, 2024
If you're verified on a bank account , or you have added a payment card, you can pay bills from the Bills page. Tips: If you have a subscription-free Basic Payables account, you'll need to upgrade to an advanced account to pay bills with a card.
BILL is a business payments platform that enables any business to leverage the speed, security, and convenience of ACH payments, or ePayments. With our Accounts Receivable automation solution, you can get paid electronically by all of your customers through your branded payment gateway.
Shares of payments and billing software maker Bill.com (NYSE:BILL) fell 5.4% in the morning session after Wells Fargo downgraded the stock's rating from Equal Weight (Hold) to Underweight (Sell) and lowered the price target from $70 to $60.
Bill.com is the paperless payments solution that syncs seamlessly with QuickBooks and connects to your bank, facilitating faster payments and receivables. Bill.com integrates with both QuickBooks Desktop and QuickBooks Online, eliminating double entry when you pay bills or receive payments through Bill.com.
“When our CEO, René Lacerte, founded the company, he wanted the name to reflect our support for both people that bill and those that pay bills. Evolving our name to BILL is simple, and it's also how we are often referred to colloquially. Making this shift now feels right.”
Does Bill.com report to the IRS?
If you meet the threshold in a given calendar year, you will receive Form 1099-K. BILL is also required to file Form 1099-K with the IRS so there is no need for you to submit your Form 1099-K with your tax return.
BILL is for business owners who want more from their bill payment tool. It adds approval workflows, paperless document storage, and team collaboration tools. It is a standalone product that integrates seamlessly with QuickBooks software, simplifying data entry and reducing manual errors.
René Lacerte is a fintech entrepreneur and the founder and CEO of BILL, a leader in financial automation software for small and midsize businesses (SMBs).
Headquartered in San Jose California, today the company has over 2,500 employees, and offices in Draper, Utah, Houston, Texas, and Sydney, Australia.
