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Franchise Industry Guru David Ostrowe To Explain How to Achieve Extreme Operational Efficiency

PALO ALTO, CALIF.— March 4, 2013 — Bill.com, the leader in integrated bill payment, invoicing and cash management solutions for businesses, today announced that it will reveal how franchises can achieve extreme operational efficiency through a better understanding of their P&Ls in a free webinar, “Franchise Growth Secrets Hidden in Your P&L,” on Tuesday, March 5, at 11 a.m. PT. Registration is available now at http://cashflow.bill.com/PLOptimization_030513.html.

Many business owners think of accounting as a necessary evil – something necessary to prepare taxes. But to a trained eye, P&Ls reveal critical, actionable business insights, insights which remain invisible to those focused only on the details of day-to-day operations. In this webinar, industry guru David Ostrowe, president of O&M Restaurant Group and the owner of 25 Burger King restaurants, will teach franchise owners how to recognize and act upon the growth keys hidden in their P&Ls, helping them achieve unprecedented success.
Moderated by Bill.com founder and CEO René Lacerte, the webinar will be packed with actionable data and useful insights including how franchise owners can:

• Quickly identify their greatest strengths and weaknesses;
• Zero in on opportunities they may be missing;
• Improve profits and increase cash flow; and
• Make better decisions for the future.

“We have long said that financial data, when properly used, can be a true action hero, and this webinar is proving our point perfectly,” said René Lacerte, founder and CEO of Bill.com. “We look forward to unlocking the power of the P&L with David, a true innovator in the franchise industry.”

Bill.com delivers a complete web-based financial solution for businesses and accountants that provides the tools, information, and collaboration required to better manage their financial tasks and optimize cash flow. Bill.com's game-changing technology digitizes a historically paper-based and time-consuming process, allowing users to access online bill payments, e-invoicing, document management, and automated workflow through one easy system. In addition to seamlessly integrating with businesses' existing accounting software programs, Bill.com provides financial leaders with a comprehensive view of their cash forecast - making it the only solution that connects a user's banks, bookkeeping, and business. 
About Bill.com
Bill.com is a cash flow command and control system that manages accounts payable and receivable for businesses of all sizes. Offering online bill pay, custom invoicing services, unlimited document storage, collaboration tools, and mobile access, Bill.com's services easily sync to users' accounting software programs and online bank accounts to better control company financials. Bill.com guards against errors and employs enterprise-class fraud protections that current methods cannot match. More than 100,000 users are now getting paid and paying millions of bills, worth billions of dollars, using Bill.com. Financial institutions can now offer these benefits to their business customers by integrating Bill.com with their banking platform. 

Bill.com Adds Industry Veteran to Team, Expands Franchise Support Bill.com. Saves Franchises Hundreds of Hours and Thousands of Dollars per Month

Bill.com, the leader in integrated bill payment, invoicing and cash management solutions for businesses, today furthered its commitment to the franchise marketplace by hiring financial industry veteran William Rickman in the newly created role of director of business development for the franchise market. Bill.com is already the choice of leading franchise businesses across the nation, saving these franchises hundreds of hours and thousands of dollars per month.

Rickman has more than ten years of experience in business development in the finance industry. Prior to joining Bill.com, Rickman was Vice President, Strategic Accounts for Bank of America Merchant Services. Rickman's efforts with point-of-service vendors and third-party payment providers were used as the model for his peers in the commercial division. As a sales executive with Fifth Third Bank, he developed solutions for business banking clients, including franchises that automated the payment process, reducing fraudulent transactions and cost of acceptance. Rickman has implemented ecommerce, mobile payments, pre-paid, electronic check and fraud prevention strategies for clients ranging in size from small businesses to Fortune 500. Rickman also ran his own business, where he learned first hand the unique challenges facing small business owners on a daily basis.

"I am excited to use this experience supporting clients facing the same issues I had. Bill.com is the perfect solution for geographically dispersed businesses such as franchises, and I look forward to helping the Bill.com franchise community build more efficient and effective businesses faster than ever," William Rickman, Bill.com Director of Business Development for the Franchise Market, said.

Bill.com delivers a complete web-based financial solution for businesses and accountants, that provides the tools, information, and collaboration required to better manage their financial tasks and optimize cash flow. Bill.com's game-changing technology allows users to access online bill payments, e-invoicing, document management, and automated workflow through one easy system. In addition to seamlessly integrating with businesses' existing accounting software programs, Bill.com provides financial leaders with a comprehensive view of their cash forecast -- making it the only solution that connects a user's banks, bookkeeping, and business.

"Franchise businesses have embraced Bill.com and as a result are reaping amazing time and cost savings," said René Lacerte, founder and CEO of Bill.com. "We are pleased to extend our commitment to these great entrepreneurs by bringing them more resources, especially William himself. We look forward to seeing what they will accomplish now that they can focus on growing their businesses instead of managing their money."

FREE BILL.COM WEBINAR SHARES SECRET RECIPE FOR FRANCHISE MULTI-UNIT GROWTH

Industry Guru Aziz Hashim Reveals How He Grew From One Store in 1996 To More Than 60 Restaurants

PALO ALTO, CALIF.— Jan. 18, 2013 — Bill.com, the leader in integrated bill payment, invoicing and cash management solutions for businesses, today announced that it will explore how moving to the cloud can help franchise owners grow their business quickly and effectively in a free webinar, “Secret Recipe on Multi-Unit Growth,” on Friday, January 25, at 11 a.m. PT. Registration is available now at http://cashflow.bill.com/multiunit_012513.html.

The webinar will feature industry guru Aziz Hashim. Hashim founded NRD Holdings in 1996 with one KFC location, and has since grown the company to over 60 restaurants, including Popeye’s, Domino’s and Checkers/Rally’s. A recognized authority on multi-unit franchise growth, Hashim often shares his experience at major restaurant and franchise conferences, and is frequently quoted in the Wall Street Journal, Washington Post, Atlanta Journal-Constitution, QSR Magazine, and other publications.

Moderated by Bill.com founder and CEO René Lacerte, the webinar will be packed with actionable data and useful insights franchise owners can use to:

• select the right brands for rapid, profitable growth;
• address barriers to expansion;
• maximize growth while minimizing growing pains;
• optimize your cash flow with new technology; and
• save thousands of dollars every year and manage risk.

“Aziz offers an amazing wealth of knowledge and experience, and we are so pleased to have a leader of his caliber share his secrets with the Bill.com community,” said René Lacerte, founder and CEO of Bill.com. “The cloud is such a powerful tool for franchise owners looking to rapidly build profitable businesses in multiple locations. We look forward to offering practical tips on how to get started on the road to success today.”

Bill.com delivers a complete web-based financial solution for businesses and accountants that provides the tools, information, and collaboration required to better manage their financial tasks and optimize cash flow. Bill.com's game-changing technology digitizes a historically paper-based and time-consuming process, allowing users to access online bill payments, e-invoicing, document management, and automated workflow through one easy system. In addition to seamlessly integrating with businesses' existing accounting software programs, Bill.com provides financial leaders with a comprehensive view of their cash forecast - making it the only solution that connects a user's banks, bookkeeping, and business. 

Back by Popular Demand, Webinar Replay Helps Franchise Owners Use the Cloud

to Transform Their Operations, Make More Money

PALO ALTO, CALIF.— Dec. 19, 2012 — Bill.com, the leader in integrated bill payment, invoicing and cash management solutions for businesses, today announced that it will offer franchise owners five steps to grow their franchises by five times in a replay of a free webinar on Thursday, December 20, at 11 a.m. PT. Registration is available now at http://cashflow.bill.com/5Steps_122012.html.

This webinar will discuss how cloud computing can help franchise owners use breakthrough cloud technology to transform their operations and make more money. The webinar will feature Peter Biro, multi-unit owner of Five Guys Burgers and Fries and former owner of Naked Pizza stores, who will explain how he uses automated systems to grow businesses without adding any overhead while saving tens of thousands of dollars annually.

Packed with actionable data and useful insights, the webinar will cover how to:

• grow franchise operations;
• keep overhead under control;
• reduce paperwork to the bare minimum; and
• create a cash flow management process that scales.

“Given their geographically dispersed locations, franchises are often victim to unnecessary overhead and paperwork confusion,” said René Lacerte, founder and CEO of Bill.com. “We look forward to sharing some ideas on how deploying a cloud-based solution can not only simplify but improve franchises’ business.”

Bill.com delivers a complete web-based financial solution for businesses and accountants that provides the tools, information, and collaboration required to better manage their financial tasks and optimize cash flow. Bill.com's game-changing technology digitizes a historically paper-based and time-consuming process, allowing users to access online bill payments, e-invoicing, document management, and automated workflow through one easy system. In addition to seamlessly integrating with businesses' existing accounting software programs, Bill.com provides financial leaders with a comprehensive view of their cash forecast - making it the only solution that connects a user's banks, bookkeeping, and business.

When I was young, store-bought Halloween costumes were far and few between. People walked around as ghosts, with eye holes poked out of (mainly) white sheets. Girls were gypsies for years on end. A sports uniform became your go-to costume.

Now, I’m not saying that these weren’t the good old days. And I’m not saying that nowadays kids (and by which I mean, us parents) don’t spend way too much on costumes. But check out that amazing costume your son has already bought for Halloween. Maybe it’s a super hero. Maybe it’s a pirate costume with a bird on its shoulder. Maybe it’s a ghost that actually looks like a ghost. Don’t you wish you could have had something as cool as that rather than hobbling together the same old odds and ends every year? If you had known those costumes were out there, wouldn’t you have begged to get them?

Unfortunately, many of today’s CFOs are still wandering around in “hobo” costumes dug out of their parents’ old clothes. In a recent survey we conducted of 350+ CFOs, we found that when asked what system they currently use to predict future cash flow, 72.9% of respondents said they still use their old Excel spreadsheets, 8.5% use an ERP system, and 8.3% said they just do the calculations in their head. The remaining 10.3% said they don’t use any tools at all, according to the survey.

Why are they still using these relics of the past? The survey found that while CFOs are aware that other departments are moving to the cloud, few realize that similar solutions exist for the finance department.  And CFOs’ frustration with this status quo also came through loud and clear. When asked to name the top three challenges faced by CFOs today, respondents cited the inability to forecast results (51.1%) and manage cash flow (47.4%) as their most pressing concerns.

Now of course there are great solutions like Bill.com out there to simplify CFO’s lives.  And some early adopters are already making the change, with 65.2% of survey respondents saying that saving dollars and staff hours would lead them to the cloud. And beyond the savings of reducing paper (which was either very of somewhat important to more than 85 percent of respondents), Financial executives are discovering that by putting their AP process in the cloud, they can cut their work by more than half and slash the cost by 50% to 70%, a saving that amounts to tens of thousands of dollars for many organizations.

So, go for a trick not a treat this year. Move to the cloud. We promise you, it’s easy. Just like taking candy from a baby. Or, better yet, collecting some good loot this Halloween.

BILL.COM CFO SURVEY FINDS THAT MOVING FINANCIAL PROCESSES  TO THE CLOUD CUTS WORKLOAD IN HALF, SLASHES COSTS UP TO 70 PERCENT

Also Uncovers That Most CFOs Are Unaware of Money Wasted On Paying Bills

PALO ALTO, CALIF. — Oct. 15, 2012 — Bill.com, the leader in integrated bill payment, invoicing and cash management solutions for businesses, today announced the results of its survey of more than 350 CFOs,revealing that when financial executives adopt the cloud they quickly realize significant financial benefits to their busineses. However, despite increasing awareness of the cloud, financial professionals still lag behind other department leaders in making the move to the cloud. Full survey results are available in the free whitepaper “For Clarity, CFOs Look to the Cloud,” which can be downloaded from http://cashflow.bill.com/cfo_whitepaper.html.

The survey is one of the first to provide insight into how CFOs are thinking about cloud-based financial systems, whether they plan to implement the systems, and what they see as both the advantages and disadvantages of online tools for managing tasks like accounts payable, accounts receivable, and cash flow. The report finds that while CFOs are aware that other departments are moving to the cloud, few realize that similar solutions exist for the finance department. However, for early adopters, saving money and time are significant motivating factors for companies that are considering a cloud-based system, with 65.2% of survey respondents saying that saving dollars and staff hours would lead them to the cloud.

In addition, when asked how much it costs their organization to process and send an invoice, 38.7% of respondents said under $5 and 32.2% said $5 to $10. In fact, the majority of respondents are likely underestimating the cost because they’re not fully factoring in the price of labor, materials, and other inputs. According to industry standards, the average cost of processing an invoice is actually over $22. In terms of hard numbers, a small company sending an average of 100 invoices a month would cut their expenses from $2200 to $750 per month by using the cloud, according to separate research conducted by Bill.com.  

Still, many CFOs remain stuck in the past, continuing to rely on paper-based processes and Excel spreadsheets to do their work, missing the opportunity to realize time and cost savings by embracing the cloud. Indeed, when asked what system they currently use to predict future cash flow, 72.9% of respondents said they still use their old Excel spreadsheets, 8.5% use an ERP system, and 8.3% said they just do the calculations in their head. The remaining 10.3% said they don’t use any tools at all, according to the survey.

CFOs’ frustration with this status quo was clearly expressed in the Bill.com survey. When asked to name the top three challenges faced by CFOs today, respondents cited the inability to forecast results (51.1%) and manage cash flow (47.4%) as their most pressing concerns. These numbers indicate that financial executives could greatly benefit from tools that provide real-time visibility into the amount of money they’re paying out and taking in, at any given moment.

Some additional findings from the survey include:

• 16.5% of financial executives said that, as far as they know, cash flow management tools and systems are nonexistent in the market; 22% said they know the tools exist but their company doesn’t use them.
• When asked what they think are the biggest challenges in moving to a cloud environment, 64.1% of survey respondents said integration with existing systems, 54.7% said system and network security, and 43.6% said introducing a new process.
• Financial executives are discovering that by putting their AP process in the cloud, they can cut their work by more than half and slash the cost by 50% to 70%, a saving that amounts to tens of thousands of dollars for many organizations.
• Another incentive for moving to the cloud is the chance to reduce the flow of paper bills and transition to a paperless work environment. The vast majority of survey respondents (85.5%) said reducing paper was either very important or somewhat important to them. Only 14.5% said it was not important at all.

According to the survey, these results show cloud-based tools, especially those for cash flow management, are still emergent in the marketplace. For early adopting CFOs, deploying tools that are on the brink of changing the financial industry will give them a competitive advantage as they leapfrog past other companies, due to their increased efficiency, effectiveness, and cost-savings.  

“Early adopters who have switched to cloud-based financial systems told Bill.com they have greatly improved both their accounts payable and accounts receivable processes,” said René Lacerte, founder and CEO of Bill.com. “We are gratified to see financial professionals take advantage of all the savings and efficiencies that only the cloud can bring.”

Bill.com delivers a complete cloud-based financial solution for businesses and accountants that provides the tools, information and collaboration required to better manage their financial tasks and optimize cash flow. Bill.com’s cash flow command and control system is the only solution that connects users’ banks, books, and businesses, enabling companies of all sizes to finally rid themselves of the cumbersome, error-prone, and highly manual spreadsheets that have plagued finance for decades. Combined with Bill.com’s cloud-based AP and AR systems, it offers the first full picture of a business’s complete cash flow system and empowers finance leaders to get paid 2 to 3 times faster and save over 50% of the time spent paying bills – all with unprecedented control, precision, and security.  

You’ve probably heard about cloud computing by now, but did you know that cloud-based financial systems can improve productivity, increase transparency and accountability and protect your organization from fraud?  Consumers have utilized cloud-based tools for years, but now there are a number of solutions available for all your business applications. 

Recently, Bill.com Founder and CEO, René Lacerte teamed up with Intacct’s Director of Product Marketing, Vijay Ramakrishnan to discuss how cloud-based financial systems are helping nonprofits and other businesses to streamline finances.  Nonprofits, in particular, have a great deal to be gained from the added transparency and accountability provided by solutions like Bill.com and Intacct. 

Cloud-based tools, as opposed to on-premise software, have the added benefits of a reduced dependence on IT, better security and a lower cost.  Not to mention, the cloud affords businesses the ability to go paperless, increasing efficiency and reducing the risk of fraud.

Learn how your business can benefit from cloud-based financial systems.  Click here to replay the webinar, or download the presentation deck. 

Each year The Sleeter Group reviews new and updated cloud, online and mobile solutions designed to help accountants support their small business clients, and highlights the best with the Awesome Application Award. Bill.com is proud to be nominated for this award.

If you are a fan of Bill.com, you can help us by voting for us!

Voting has already begun. All you have to do is visit the 2013 Sleeter Awesome Application Awards website and cast your vote for Bill.com.  You can vote once per day and on as many applications as you like through September 28!

Awesome Application Awards will presented at The Sleeter Group's 2012 Accounting Solutions Conference to be held in October.

Companies Are Losing 5 Percent of Their Annual Revenue To Fraud, With Small Organizations Disproportionately Suffering

PALO ALTO, CALIF.— Sept. 7, 2012 — Bill.com, the leader in integrated bill payment, invoicing and cash management solutions for businesses, today announced it will explore seven easy ways to protect businesses from fraud in a free webinar on Monday, September 10^th, at 1 p.m. PT. To register for the webinar, please visit http://cashflow.bill.com/fraud.

Fraud is a concern for any business, but small organizations are disproportionately victimized, with the typical organization losing five percent of its annual revenue to fraud. This webinar featuring René Lacerte, founder and CEO of Bill.com and Bill.com customer Darsi Casey, CPA, Managing Partner of Casey, Neilon & Associates, will cover topics including:

• what to watch for in the three top categories of fraud;
• the five departments where 71 percent of fraud has been happening in 2012;
• the 11 most common fraud schemes; and
• the four places companies are most vulnerable and exposed.

“Fraud is a real issue for businesses of all sizes, and we are pleased that our cash flow command and control system can help solve this age-old problem,” said René Lacerte, founder and CEO of Bill.com. “We encourage any business owner to attend our webinar to pick up some useful tips on how to protect themselves and reclaim their lost revenue.”

Bill.com delivers a complete web-based financial solution for businesses and accountants that provides the tools, information, and collaboration required to better manage their financial tasks and optimize cash flow. Bill.com's game-changing technology digitizes a historically paper-based and time-consuming process, allowing users to access online bill payments, e-invoicing, document management, and automated workflow through one easy system. In addition to seamlessly integrating with business' existing accounting software programs, Bill.com provides financial leaders with a comprehensive view of their cash forecast - making it the only solution that connects a user's banks, bookkeeping, and business.  

David Ostrowe opened his first Burger King franchise in 2005 and has since grown his business to 25 stores. He currently manages 800 employees at any given time, with only 3 office staff. This level of growth and efficiency is something most franchise owners only dream of, and has made Ostrowe a highly coveted speaker and advisor. He attributes this success to a handful of “secrets”, including the use of cloud-based tools such as Bill.com. 

Recently, Ostrowe joined Bill.com for a complimentary webinar where he shared his secrets to profitable multi-unit franchise operations.  Attendees of the webinar represented a variety of franchises, including Dominoes, Fantastic Sams, Massage Envy, Dairy Queen and more.

Ostrowe emphasized the importance of technology and the cloud in improving the efficiency of operations of any size. According to Ostrowe, rapid growth and managing a large number of employees with minimal staff requires a certain amount of trust and accountability. He relies on tools like Bill.com and the data they provide to increase transparency and accountability within his organization and empower the individual store managers to make smart decisions. 

Overall, Ostrowe has saved close to 100 hours a month and about $1,155 a month using Bill.com; not to mention the system has saved him from having to outsource payroll, a cost of about $50,000 a year. He has processed over $1M in Bill.com in the last 6 months without a single problem. 

Learn more about David Ostrowe’s experience.  Click here to replay the webinar.  Or sign up for a risk free trial of Bill.com today!