Friday, December 6, 2013 - 15:57
Friday, December 6, 2013 - 13:39

By Brian Jacobs, General Partner, Emergence Capital Partners

(Reposted from Emergence Capital Partners Blog)

Last night, we honored some of our portfolio companies at the Emergence Capital Annual CEO Forum, an afternoon and dinner with all of our portfolio company CEOs.  Here is the text of my toast to Rene Lacerte, founder and CEO of

"Every year, we celebrate with our CEOs at the end of the year.  We want to thank you for your tireless efforts and we want to recognize some of you who achieved significant milestones during the year.

At Emergence Capital, our mission is to build industry leading SaaS companies, and if we are doing our job – and we think we are – then by coming to this dinner you are almost guaranteed to meet famous software entrepreneurs who have disrupted billion dollar markets.

If you have been coming for a few years, you may have sat next to Lars Dalgaard, or Aaron Levie.  If it’s your first time, then you may be sitting next to the next Peter Gassner or David Sacks.  If fact if you are here, you much more likely to become a famous software entrepreneur or a billionaire, then almost any audience I can think of.

In addition to our Company of the Year Award, we also give something called the Emergence Award.  The Emergence Award is not for the big successful sale or IPO, but a company that is working its tail off, executing, making their customers happy, often without much public recognition."

Read the entire text here.

Tuesday, November 26, 2013 - 14:28

René Lacerte, Founder & CEO,

Countdown to Paperless

7, 6, 5...

4... Download your free Inc. Magazine Guide to Cloud-based Automation

Learn why going paperless with a cloud-based solution gives you:

  • Huge savings of time and money
  • Real-time insight into business performance
  • Secure mobile access, and much more

     Download here.

3... Get all your questions answered

Attend a free “Ask Me Anything” session online with a well-known financial executive who had your same questions not so long ago. 

Join us for a webinar with live Q&A featuring Jim Cook, Chief Financial Officer, Mozilla on Tuesday, December 10, 2013a – 11AM PT / 2PM ET

     Register here.

2... Take a free guided tour online

Not a canned demo – a private, one-on-one tour with a cloud-solution expert

     Reserve now.

1... Try now – no credit card required

It’s even easier than it sounds, because works with your accounting software, set-up takes less than 60 minutes on average, and expert, friendly help by phone is now free.

     Get started.

Happy Paperless New Year!

Hundreds of thousands of businesses have already gone paperless by moving their finances to the cloud, boosting productivity and slashing costs via:

  • Streamlined bill payment and approvals
  • Accelerated invoicing and collections
  • Simplified cash flow projection and control

     Try it now.

Tuesday, November 26, 2013 - 14:28

René Lacerte, Founder & CEO,

2013 has been an amazing year for We have seen growing traction with the banking industry, made major strides in automating once mundane tasks for accountants and bookkeepers, grown our Business Payments Network to record numbers, received countless awards and accolades, and even secured another $38 million in funding to help us reach more businesses and bring our growing community even better solutions. It has been a great yearone of the best ever and the energy at the company is palpable.

I make it a habit to acknowledge my gratitudes daily and with so many wonderful successes, Thanksgiving is a great time to call some of them out.  And, so, I would like to thank:

  • Our employees: Our team is dedicated and determined to make a difference in the world.  I have been blown away by the dedication, commitment and passion through out the organization this year.  Every challenge has not been seen as an obstacle, but instead a catalyst.  I am especially grateful that new recruits notice this approach and share the same enthusiasm as we do.  I know it is our passion that makes so beloved by our customers—just look at our amazing Net Promoter scores (which judge customer loyalty) for validation.
  • Our customers: You push us to do amazing things and you give us the feedback we need to make change happen. This year, I had several opportunities to be on panels with our customers or to do webinars with them, all of which were true pleasures. You get what we are trying to do, and it is your inspiration that drives our passion. is truly a community effort.
  • Our investors: Your belief in the vision is helping us bring our technology to more people than ever before possible.
  • Our partners: Together, we are making business easier for people and solving business problems that span all company functions.
  • The cloud: It may seem strange to thank a technology but, without it, we simply couldn’t exist. I believe the cloud is a game changer for how we build and consume technology. The cloud makes automation possible in our mobile world. It gives us the freedom to work effectively from anywhere at any time, with all the data we need at hand. And, it creates so much more collaboration within companies and between customers and vendors. 
  • My family: The fact is that was founded from my desire as a CEO to find a way to escape the mundane day-to-day tasks of business so I could focus on the bigger ideas and issues at hand. But clearing away minutiae also gives you more time to enjoy your family, and I am grateful to have mine—and to have more time to spend with them.

Have a wonderful Thanksgiving.

Tuesday, November 19, 2013 - 14:33

The new features in’s November Release ease the process of integrating applications with and enhance the overall customer experience. You can read more about them below. customers can access a more detailed explanation of the features in our Release Notes; they may also review the Answers Pages for additional information.

For a live discussion of the new features, attend our Release Webinar on November 25, 2013 at 9am PT. You can register for the Webinar.

Improved Integration

  • Improved Import/Export: Expands the types of data that can be imported into The process is also simpler, cleaner, and easier to use. Anyone who wants to integrate data from accounting systems or financial applications that don’t currently sync with can do so efficiently.
  • App (Beta): Turn Opportunities into invoices in, with the click of a button. Contact Customer Support if you would like to participate in the beta.
  • Intacct 2.0 (Private Beta): Our improved Intacct sync features two-way syncs for both AP and AR for the first time! Users can keep Intacct and up-to-date with no double data entry. Contact Customer Support if you would like to participate in the beta.

Enhanced Customer Experience

  • Document Anti-Virus Protection: All files uploaded to your account are now scanned for viruses. Any files determined to contain a virus cannot be downloaded from or emailed to a customer.
  • Improved account verification for Vendors: We’ve simplified the back-end bank account verification process, which will result in far fewer account verification failures, and keep things effortless for you and your vendors. 
  • Home Page Notifications help to keep you informed: Notifications at the top of the Home Page will keep you abreast of new features, updates and enhancements, use cases for existing features, and other great resources we think might be useful to you.

  • Combo Buttons: Removes extra clicks from the process of entering data in; allows you to save the record you’re working on, and immediately start working on a new one, with just one click.

  • Duplicate record detection: When you enter Vendors, Customers, and other records, we’ll alert you if we detect any duplicates, helping to prevent future confusion and record correction.

  • De-clutter your Inbox, by deleting multiple files: Select a number of files from the Inbox to delete all at once, instead of one by one.


Monday, November 11, 2013 - 21:10

By René Lacerte, CEO and Founder,

Just the facts, please

Today we are announcing that we have raised an additional $38M in capital, bringing our total to over $80M during the past seven years.  This round was led by Rory O’Driscoll of Scale Venture Partners, included all of our existing investors and introduced new support from some premier financial institutions – Bank of America, American Express and Fifth Third Bank.  And, to cap all of this off, Pete Kight, the founder of Checkfree, the world’s largest consumer bill payment system, also participated.

Our vision

Our vision is to make business-to-business (B2B) payments easy.  That means we must eliminate the mundane manual processes that surround B2B payments.  We feel that we are well on our way to doing that (hence our monthly NetPromoter score of 70+) and are excited to get more done faster with this new capital. 

Why the strategic investment from banks

In this round we received awesome validation from core financial institutions, representing some of the best brands in the world.  Bank of America, American Express and Fifth Third Bank are some of the best brands when it comes to financial services.  The banks invested in us because they see the direction we are leading and they know that while consumer online bill payment has 80% penetration (thanks to companies like Checkfree), businesses have only 20% penetration.  Banks and visionaries like Pete Kight recognize that businesses will move to the cloud and make payments from all of their devices.  Their validation shows the power of what we have built and their belief that is the leader when it comes to business payments.

Why I am pumped

Raising money is always challenging and I never take it for granted.  I was fortunate in this round that we actually had term sheets from five lead investors, and all of them were great.  There were a few things that tipped the scale (pun intended) in favor of Scale.  The primary reason was Rory’s experience both as an entrepreneur and as an investor backing some of the best B2B SaaS companies around – Box, Docusign, and Exact Target.  Successful VCs will tell you that one of the most important skills they have is pattern recognition.   Recognizing trends and management teams from a distance is critical.  Being recognized as part of a B2B SaaS pattern is great external validation.

How big is the opportunity

Business payments is a massive market with over 6B transactions a year worth more than $23T.  Today manages more than $12B.  The opportunity is enormous and one we are well positioned to seize. To date we have spent $40M building a system that enables collaboration across people, systems (accounting and banking), and documents so that businesses can automate their payables, receivables and cash management. Our system today reduces the time to manage your payables, receivables and cash by 75%. 

Now, it is time to double down—and that is exactly what we are doing.  The investment we received today of $38M is almost double the investment we have received in the last seven years.  This capital will allow us to extend our benefits to so many more businesses through so many more partners.

What we will do with the money

At, we are defining a new category: The Business Payments Network.  And, like any network, you need to care and feed it. $38M will allow us to do both with new product features and broader distribution channels. first and foremost is a product company with essentially five products: AP,AR, cashflow management, Sync, and document management.  We have a long list of features to add that will increase the efficiency in each of these areas.  As we always have, we will focus on making the end-to-end business processes of small and mid market businesses more efficient.  We have a number of areas where our accountant and bookkeeper partners have pushed us to improve their processes as well and we’re excited to continue to strengthen our tools for them.

In addition, we are busy implementing and partnering with some of the leading financial institutions in the country.  Once we hire more folks (yep, we’re hiring), we’ll be able to work with even more partners.

Thank you!

If you are a customer or a partner reading this, thank you.  Thank you for your awesome support and feedback, which makes us better every day. 

And if you are neither of those but are interested in being a customer or joining the team, please let us know.

Monday, November 11, 2013 - 16:13

Monday, November 4, 2013 - 07:45

By Lisa Lang, SVP of Marketing,

Ever get the feeling you may be outgrowing your accounting software? Have you already upgraded, but found that your costs keep mounting? Or are your AP/AR functions still stuck in the 90s – bogged down in time-consuming, paper-based, processes that waste your resources? All these problems can be solved easily, by supercharging your accounting software with a cloud-based solution.



  • QuickBooks users can double or triple the life of their software, and even avoid switching altogether.
  • NetSuite users can save thousands on bill approval routing and electronic payments.
  • All system users, such as Intacct, Xero and Peachtree users, can eliminate time-consuming, paper-based manual processes throughout their companies.

Cloud-based supercharging will bring you all these benefits and more:

  • Collaborate more easily with staff, vendors and customers
  • Improve processes and controls for better protection against errors and fraud
  • Move money easily online or offline, streamlining payables and speeding receivables collection
  • Go mobile, now that you’re no longer tied to the location where paper documents are stored
  • Access all your documents online from anywhere, any time.

Hundreds of thousands of businesses have already moved their payables, receivables and cash flow management to the cloud, boosting productivity and slashing costs via:

  • Streamlined bill payment and approvals
  • Accelerated invoicing and collections
  • Simplified cash flow projection and control

It takes less than 60 minutes to accomplish all the above and more. So why wait? Avoid the hassles and cost of upgrading to a new, more expensive accounting system.
To learn more, take the Guided Tour today.

Monday, November 4, 2013 - 07:00

By Christina Del Villar, Senior Director of Marketing,

Chris Fenster

In 2008, Chris Fenster came up with a novel way to solve a crucial problem many small companies face. Having spent the previous 13 years as a CFO in four different start-up environments, the head of Propeller Industries had learned a lot about how to – and how not to – build a company.

“Small companies often leave strategic, mission-critical functions at risk by not involving all the critical players,” says Fenster. “We solve this with an integrated team that includes expertise at all levels – bookkeeper, controller and CFO – which clients can use part-time, paying only for what they need.”

Chris’ entrepreneurial passion took root in 1992, when he left a consulting firm to get his hands dirty with some real-world business experience. And he did actually get his hands dirty – by joining a small bike shop.
After two years, Chris and his partner had built Start to Finish into one of the largest independent bicycle dealerships in the US, eventually selling to their largest supplier.

“Building an actual company was intoxicating,” he says. “We had no idea what we were doing. We took insane risks and made nearly every mistake in the book. But a great team of people – including the expert coaches we brought in – helped us thrive.”

Today the Propeller Industries team helps other businesses thrive, providing sound financial management for 70 early-stage growth companies. What makes this possible is a secure, cloud-based “technology ecosystem” that leverages a variety of best-in-class solutions, including paperless A/P, electronic routing for bill approvals and payments, real-time reporting, mobile access to data, and much more.

Propeller first used this breakthrough technology themselves, eliminating time-consuming, paper-based processes internally and supercharging their accounting process – making Chris Fenster one of the first “No Check” CEOs – before rolling it out to their clients.

“ showed up at exactly the right time in the life of our business,” says Chris. “By automating so many tedious, manual processes, it enables us and our clients to concentrate on our goals.”

# # #

Would you like to automate your time-consuming, paper-based manual processes by moving them to the cloud? Take the Guided Tour today.

Friday, November 1, 2013 - 14:06, the leader in integrated bill payment, invoicing and cash flow management solutions for businesses, released a survey revealing the three barriers that are keeping the franchise industry from reaching its true potential. surveyed 460 owners and finance leaders of franchises to discover what were the top issues facing the franchise industry today. Respondents identified three major obstacles to growth:

    • managing and controlling costs;
    • accurately anticipating cash flow; and
    • suffering day-to-day distractions from long-term goals.

A full white paper, “How to Super-Size Franchise Success: Survey Reveals Top Three Barriers to Growth, Identifies Financial Automation as Solution,” is available today for free download.



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