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Bill Buys Forecasting Application

Bill, formerly known as Bill.com, has acquired Finmark, which offers budgeting, forecasting and financial planning features. Terms were not disclosed.

During the company’s recent webcast for earnings for the first quarter ended September 30, CEO Rene Lacerte will be “especially useful to accountants” in running advisory practices.  He said the product “especially useful to accountants” in running advisory practices.

Lacerte talked about the purchase as another step in establishing the company products as “essential financial operations solutions” for SMBs. In that arena. The application is designed to be used by SMBs and start-up companies.

Currently, pricing is linked to the customer’s revenue. The Finmark website shows that company with $500,000 in annual revenue would pay $100 per month; one with $1 million to $3 million in revenue, $250 per month.

For the most recently ended quarter, Bill reported a loss of $81.6 million, a 10-percent increase from $74.3 million a year ago. Revenue was up 94 percent to $292,9 million from $118.3 million in last year’s comparable period. 

Growth was accelerated by the operations of expense management software Divvy last year. Subscription fees hit $58.1 million, an increase of 57 percent year-over-year.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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