BILL, a provider of financial automation software, announced that the acquisition of Finmark, a supplier of SMB financial planning, had been completed.
When BILL first made the acquisition transaction public, it said that it was doing it to enhance its SMB planning and cash flow analytics capabilities.
“With Finmark’s financial planning tools and integrations, along with our platform and data, we’ll be able to give SMBs with more full, real-time visibility into their cash flow and help them plan for the future,” said Irana Wasti, chief product officer at BILL.
Small- to medium-sized businesses (SMBs) are always looking for new ways to enhance financial management and digital capabilities, according to a September study titled “Improving Financial Performance: Taking Advantage of Early Payments Discounts.”
According to the poll, 77% of corporate Software-as-a-Service firms believe that a big issue is a lack of knowledge into non-payroll expenditure. The necessity of non-payroll financial management is shown by this.
However, by offering SMBs a way to automate their financial management, BILL and Finmark are meeting a demand that businesses scream for in order to operate as effectively as possible.
