Small Businesses Embrace BILL AI Tools to Eliminate Manual Workflows

Growth in User Adoption

BILL’s financial operations platform now serves 498,000 businesses and 9,500 accounting firms, as indicated in an investor deck shared during the call. This reflects an increase from 481,000 businesses a year prior. Notably, 8.3 million businesses are now utilizing BILL’s proprietary B2B payment network.

“By covering the essential workflows our customers depend on daily, we are enhancing engagement and boosting transaction volume across the entire platform,” stated BILL CEO and Founder René Lacerte.

Surge in Invoice Financing

In the latest quarter, the uptake of BILL’s invoice financing solution among small and medium-sized businesses (SMBs) saw an impressive nearly 50% growth year-over-year, with origination volumes increasing by over 30%, according to Lacerte.

“Invoice financing is emerging as a vital payment solution, offering flexible capital precisely when it is needed, thereby fulfilling a crucial operating requirement for many SMBs,” he noted.

Enhanced Financial Solutions

Additionally, SMBs are embracing the recently launched BILL Cash Account. This cash flow solution allows businesses to deposit their operating cash into a high APY account, as reported when the product was introduced in October.

“We view the Cash Account as an opportunity to transition billions of dollars of offline spending onto our network, thus expanding our wallet share,” Lacerte explained. “Initial results since the launch in Q2 indicate that over 70% of Cash Account users have increased their spending volumes within our network.”

Adoption of AI Agents

During this quarter, BILL’s AI agents began taking on tasks for SMBs. Unveiled in October, these AI agents handle the collection and validation of W-9s, reconciliation of receipts, acceleration of user onboarding, and various routine responsibilities.

Lacerte reported that nearly 10,000 customers have activated the W-9 agent, which has successfully gathered 40,000 W-9s to date. He anticipates that by the end of 2026, this agent will collect and automate 3 million W-9s, potentially saving customers thousands of hours of manual labor.

New Features for Accountants

BILL has also introduced enhanced features tailored for accountants, including procurement tools, multi-entity support, and advanced reporting capabilities in the platform’s Accountant Console. Lacerte emphasized that these tools are becoming increasingly necessary as AI transforms the accounting landscape.

“As the profession evolves amid rapid technological advancements, our in-depth understanding of back-office operations for SMBs and the accountants who serve them is unparalleled,” Lacerte remarked. “This unique capability, coupled with the extensive offerings of our platform, empowers firms to transform tedious transactional tasks into high-value, automated advisory services.”