BILL Unveils New Features for BILL Spend & Expense to Enhance Visibility and Control of Business Finances for SMBs and Accountants

Rhea-AI Summary

BILL (NYSE: BILL), a leading financial operations platform for small and midsize businesses (SMBs), has announced new features for its Spend & Expense solution, formerly known as Divvy, to help SMBs and accounting firms gain even greater visibility and control of their business finances. The latest capabilities include customizable spend target limits, enhanced policy controls, and a new budget groups feature, all designed to streamline budget management and increase efficiency.

Innovative capabilities empower businesses with efficiency, time-savings, and customizable control delivered in one spend and expense management solution

SAN JOSE, Calif.--(BUSINESS WIRE)-- BILL (NYSE: BILL), a leading financial operations platform for small and midsize businesses (SMBs), today announced new features for its Spend & Expense solution, formerly known as Divvy, to help SMBs and accounting firms gain even greater visibility and control of their business finances. The latest capabilities, complete with a budgets interface redesign, include additional ways to customize spend target limits, consolidate controls to manage spend easier, and group budgets to streamline management of multiple budgets.

“For SMBs, correctly managing spend can be the difference between success and failure. To do this effectively they need real-time visibility and precise control of their budgets, but they also need flexibility and options based on team needs, categories of spend, or specific periods of time,” said Irana Wasti, Chief Product Officer at BILL. “Our new BILL Spend & Expense features deliver exactly that – helping SMBs to be more effective in how they manage their budgets, while empowering them with the control and visibility they need for their cash flow, so they can focus on their business with confidence.”

Customizable Control with Target Spending Limits and Enhanced Policy Controls

Target spending limits allow businesses to tailor their budgets to specific needs, increasing efficiency and flexibility of spend with BILL Divvy Corporate Cards.¹ Enhanced policy controls complement this feature, streamlining the management and compliance of spending policies.

Key benefits include:

• Customize Spending Thresholds: Adjust spending limits based on business needs or maintain continued spending with a buffer.
• Streamline Policy Enforcement: Implement clear spending policies for easier enforcement and compliance.
• Create Custom Approval Processes: Create sequential or non-sequential approval flows involving key personnel, ensuring efficient and controlled budget management.
• Gain Flexibility for Card Spend: Control overspending to avoid unwanted card declines, or forgo budget limits and only get declines when a credit limit is reached.

New Budget Groups Feature and Simplified Interface

The BILL Spend & Expense budgets interface has been reimagined, focusing on making budget management even more intuitive for spenders and admins. This redesign includes a new budget groups feature, which enhances the organization and management of multiple budgets.

Key benefits include:

• Simplify Budget Monitoring: View budgets together and gain real-time visibility about spend across the entire organization.
• Organize Multiple Budgets: Efficiently manage various budgets with the new budget groups feature, improving visibility and reducing complexity.
• Optimize Budget Workflow: Delegate budget management responsibilities to group owners without having to give up control.

SMBs and Accountants Find Success with BILL Spend & Expense

“BILL Spend & Expense gives us the tools our clients need to create better visibility, controls, and workflows. It has helped us build trust and confidence with our clients in that we can provide what they need for a more economical management of their spend,” commented Amy Marshall, Director of Growth at Breakwater Accounting & Advisory. “The new groups feature enables delegation of budgets by assigning ownership to custom categories such as travel. The result is a more efficient, controlled, and transparent approach to overseeing spend.”

“BILL provides a really nice tool for shared budgets across departments,” said Burke Bess, Vice President of Finance, Accounting, and Data Analytics at Children’s Miracle Network Hospitals. “BILL helps us view our expenditures in real-time, ensuring that we don’t go over our budget. BILL has saved us hours of back and forth with requests and approvals. It also empowers the entire organization to manage their spend better and more efficiently.”

Features Availability

All capabilities mentioned in this announcement are available now. To get started today, request a demo of BILL Spend & Expense here.

Watch this video to learn more about how BILL Spend & Expense can help with visibility and control of business finances.

About BILL

BILL (NYSE: BILL) is a leading financial operations platform for small and midsize businesses (SMBs). As a champion of SMBs, we are automating the future of finance so businesses can thrive. Our integrated platform helps businesses to more efficiently control their payables, receivables and spend and expense management. Hundreds of thousands of businesses rely on BILL’s proprietary member network of millions to pay or get paid faster. Headquartered in San Jose, California, BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and accounting software providers. For more information, visit bill.com.

¹ Card issued by Cross River Bank, member FDIC

View source version on businesswire.com: https://www.businesswire.com/news/home/20231213541015/en/

Press Contact:

John Welton

john.welton@hq.bill.com

IR Contact:

Karen Sansot

ksansot@hq.bill.com

Source: BILL

FAQ

What is the company name and ticker symbol for the financial operations platform for small and midsize businesses (SMBs) that announced new features for its Spend & Expense solution?

The company is BILL and its ticker symbol is NYSE: BILL.

What are the new features announced for BILL's Spend & Expense solution?

The new features include customizable spend target limits, enhanced policy controls, and a new budget groups feature.

How do the new features help SMBs and accounting firms?

The new features help SMBs and accounting firms gain even greater visibility and control of their business finances.

What are the key benefits of the new features?

The key benefits include the ability to adjust spending limits based on business needs, implement clear spending policies for easier enforcement and compliance, create custom approval processes, and simplify budget monitoring.

What is the website to view the full press release?

The full press release can be viewed at https://www.businesswire.com/news/home/20231213541015/en/.