Billion Dollar Unicorns: Bill.com Has Scaled Quietly

I have known serial entrepreneur René Lacerte for years. He started Cashview, which renamed itself to Bill.com, and has grown in leaps and bounds.

Bill.com’s Offerings

Palo Alto-based Bill.com was founded by René in 2006 to simplify, consolidate, and automate how business and finance professionals manage their payments processes for accounts payable, accounts receivable, and cash flow management tasks. With more than 20 years experience in the finance, software, and payments industries through his earlier venture PayCycle, René knew the importance of connecting the stakeholders within a payment cycle and the need to build collaboration and communication tools within a solution. He used this experience to create Cashview that was later rebranded as Bill.com.

Today, Bill.com is a leading digital business payments company that has simplified the accounts payables and receivables solution for small and medium businesses. It has positioned itself at the center of business payments, uniting banks, accountants, and businesses on the fastest growing payments network. It helps more than a million of its network members process over $25 billion in payments per year. It believes that by securely automating the end-to-end process of billing and payments, it has saved companies up to half their time.

Bill.com’s provides organizations with a payment and billing solution that is well integrated with the customer’s accounting platform. It helps businesses enter invoices quickly and easily. Businesses are able to get invoiced directly, pay from anywhere, anytime, and select the payment method they prefer to use. They can also manage the accounts receivable process by sending out automated invoices and reminders, directly depositing cash into their accounts via ACH, credit card, or PayPal and synchronizing payment data with the accounting software to keep their books updated real-time.

As René described it back then, businesses can see all the amounts and invoices due for payment, all the bills that a vendor has ever sent along with other details such as other documents from the vendor, payments for any particular bill and even the images of canceled checks.

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Sramana Mitra is the founder of One Million by One Million (1M/1M), a global virtual incubator that aims to help one million entrepreneurs ...

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