Bill.com Holdings, Inc. (Bill): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide de la technologie financière, Bill.com Holdings, Inc. (Bill) apparaît comme une force transformatrice, révolutionnant la façon dont les entreprises gèrent leurs flux de travail financiers grâce à des solutions innovantes basées sur le cloud. En intégrant de manière transparente les stratégies de traitement des paiements, d'automatisation et de transformation numérique de pointe, la société a taillé un créneau unique pour autonomiser les petites et moyennes entreprises avec des outils de gestion financière sophistiqués mais conviviaux qui rationalisent les processus comptables complexes et stimulent l'efficacité opérationnelle .

Bill.com Holdings, Inc. (Bill) - Modèle d'entreprise: partenariats clés

Institutions financières et banques pour le traitement des paiements

Bill.com a des partenariats avec plusieurs institutions financières pour faciliter le traitement des paiements:

Banque partenaire	Détails du partenariat	Volume de transaction
JPMorgan Chase	Intégration de traitement des paiements	Volume de transaction annuel de 42,3 milliards de dollars
Wells Fargo	Services de transfert ACH et fil	Volume de transaction annuel de 35,7 milliards de dollars

Intégrateurs de logiciels et fournisseurs de plateformes comptables

Les partenariats d'intégration des logiciels clés comprennent:

• Sage intacct
• NetSuite
• Cloud Oracle ERP

Partenaires technologiques pour les infrastructures cloud

Fournisseur de cloud	Niveau de service	Investissement annuel sur les infrastructures
Amazon Web Services (AWS)	Infrastructure cloud primaire	18,5 millions de dollars
Microsoft Azure	Services cloud secondaires	7,2 millions de dollars

Fournisseurs de réseaux de paiement

Partenariats du réseau de paiement stratégique:

• Visa: traitement des transactions
• MasterCard: intégration du réseau de paiement
• American Express: Solutions de paiement d'entreprise

Swoftans comptabilité

Plate-forme comptable	Niveau d'intégration	Utilisateurs connectés
Fusée	Intégration profonde	1,2 million d'utilisateurs connectés
Xero	Accès complet à l'API	385 000 utilisateurs connectés
Manuels	Connexion API directe	224 000 utilisateurs connectés

Bill.com Holdings, Inc. (Bill) - Modèle d'entreprise: Activités clés

Développer des plateformes logicielles financières basées sur le cloud

Bill.com a investi 177,4 millions de dollars dans la recherche et le développement au cours de l'exercice 2023. La plate-forme basée sur le cloud de l'entreprise a traité 217,4 milliards de dollars de volume de paiement total au cours de la même période.

Métriques de la plate-forme	Valeur
Volume de paiement total	217,4 milliards de dollars
Investissement en R&D	177,4 millions de dollars
Utilisateurs de réseau actif	400,000+

Services de traitement des paiements et d'automatisation

Bill.com a traité 5,8 millions de transactions réseau au T4 2023, avec une valeur de transaction moyenne de 8 700 $.

• Automatisation des paiements pour les petites et moyennes entreprises
• Solutions de comptes intégrés à payer et à recevoir
• Suivi et réconciliation des paiements en temps réel

Innovation technologique continue et amélioration des produits

La société a déposé 25 nouvelles demandes de brevet en 2023, en se concentrant sur les technologies financières axées sur l'IA.

Métriques d'innovation	Valeur
Demandes de brevet	25
Mises à jour du produit	12 versions majeures
Projets d'intégration d'IA	7 initiatives actives

Support client et gestion des comptes

Bill.com maintient une équipe de support client de 450 professionnels, avec une cote de satisfaction client de 92%.

• Assistance technique 24/7
• Gestion de compte dédiée
• Services d'intégration personnalisés

Cybersécurité et protection des données

La société a alloué 42,3 millions de dollars aux infrastructures de cybersécurité au cours de l'exercice 2023.

Métriques de sécurité	Valeur
Investissement en cybersécurité	42,3 millions de dollars
Conformité SOC 2	Pleinement conforme
Audits de sécurité annuels	3 revues complètes

Bill.com Holdings, Inc. (Bill) - Modèle d'entreprise: Ressources clés

Plateforme de technologie financière propriétaire

Au deuxième trimestre 2024, la plate-forme propriétaire de Bill.com a traité 254,4 milliards de dollars de volume de paiement total. La plate-forme prend en charge plus de 400 000 clients actifs dans les petites et moyennes entreprises.

Métrique de la plate-forme	Valeur
Volume de paiement total	254,4 milliards de dollars
Clients actifs	400,000+
Revenus récurrents annuels	861,4 millions de dollars

Équipes de génie logiciel et de produits qualifiés

Bill.com emploie plus de 1 500 professionnels de la technologie. Les dépenses de R&D de la société pour 2023 étaient de 252,3 millions de dollars.

• Total des employés de la technologie: plus de 1 500
• Investissement en R&D: 252,3 millions de dollars
• Ingénieurs logiciels: environ 70% de la main-d'œuvre technologique

Infrastructure approfondie de données financières et de transactions

La société gère les données de transaction pour plus de 400 000 entreprises, traitant en moyenne 3,2 millions de transactions par mois.

Métrique d'infrastructure	Valeur
Transactions mensuelles	3,2 millions
Les entreprises servies	400,000+

Cloud Computing et architecture réseau sécurisée

Bill.com utilise Amazon Web Services (AWS) pour l'infrastructure cloud, avec un Garantie de disponibilité de 99,99%. L'investissement annuel sur les infrastructures cloud est d'environ 45,6 millions de dollars.

Portfolio de propriété intellectuelle solide

En 2024, Bill.com détient 87 brevets enregistrés liés à la technologie financière et aux systèmes de traitement des paiements.

• Brevets totaux: 87
• Catégories de brevets: traitement des paiements, automatisation financière, technologies de sécurité
• Investissement en brevet: 12,4 millions de dollars par an

Bill.com Holdings, Inc. (Bill) - Modèle d'entreprise: propositions de valeur

Gestion simplifiée des comptes à payer et à recevoir

Bill.com a traité 227,5 milliards de dollars de volume de paiement total au cours de l'exercice 2023. La plate-forme prend en charge plus de 400 000 clients avec des solutions automatisées à payer et à recevoir.

Métrique	Valeur
Volume de paiement total	227,5 milliards de dollars
Clientèle	400,000+
Traitement des transactions annuelles	6,5 millions de transactions

Solutions automatisées de flux de travail financier

Bill.com propose une automatisation complète du flux de travail avec les caractéristiques clés suivantes:

• Traitement des factures alimentées par AI
• Planification automatique des paiements
• Outils de collaboration en temps réel
• Connexions de plate-forme comptable intégrée

Traitement et suivi des paiements en temps réel

La plateforme prend en charge plusieurs méthodes de paiement avec Précision des transactions à 99,9%. Les vitesses de traitement des paiements comprennent:

Mode de paiement	Temps de traitement
Transferts ACH	1-3 jours ouvrables
ACH même jour	Même jour ouvrable
Carte de crédit virtuelle	Traitement instantané

Réduction des coûts par transformation numérique

Bill.com aide les entreprises à réduire les coûts d'exploitation financières en moyenne 50% par l'automatisation et les flux de travail numériques.

Efficacité financière améliorée pour les petites et moyennes entreprises

Mesures d'efficacité financière pour les clients SMB:

• Temps moyen économisé par mois: 10-15 heures
• Réduction de la saisie manuelle des données: jusqu'à 75%
• Réduction d'erreur de conformité: 60%

Métrique d'efficacité	Pourcentage d'amélioration
Économies de temps	50-70%
Réduction des coûts	40-60%
Automatisation des processus	80%

Bill.com Holdings, Inc. (Bill) - Modèle d'entreprise: relations avec les clients

Plate-forme numérique en libre-service

La plate-forme numérique de Bill.com dessert 427 000 clients au T2 2024, avec un Taux d'engagement en libre-service à 99,5%.

Fonctionnalité de plate-forme	Métriques des utilisateurs
Utilisateurs actifs	427,000
Taux de libre-service numérique	99.5%
Volume de transaction annuel	255 milliards de dollars

Canaux de support client dédiés

L'infrastructure de support client comprend:

• Prise en charge du téléphone 24/7
• Assistance au chat en direct
• Canaux d'assistance par e-mail
• Temps de réponse moyen: 22 minutes

Assistance personnalisée à l'intégration et à la mise en œuvre

Le processus d'intégration comprend:

• Stratégie de mise en œuvre personnalisée
• Gestionnaires de compte dédiés pour les clients d'entreprise
• Séances de consultation initiales gratuites
• Modules de formation personnalisés

Mises à jour régulières des produits et améliorations des fonctionnalités

Mettre à jour la fréquence	Améliorations des fonctionnalités
Mises à jour trimestrielles	4-6 versions principales de fonctionnalités
Améliorations annuelles des produits	18-24 améliorations significatives

Forums communautaires et ressources éducatives

Métriques de la plate-forme éducative:

• Ressources d'apprentissage en ligne: 250+ tutoriels vidéo
• Association du webinaire: 45 000 participants annuels
• Utilisateurs du forum communautaire: 87 000 membres enregistrés

Bill.com Holdings, Inc. (Bill) - Modèle d'entreprise: canaux

Plateforme de vente en ligne directe

La plate-forme en ligne directe de Bill.com a traité 227,4 milliards de dollars de volume de paiement total au cours de l'exercice 2023. La plate-forme prend en charge 437 000 abonnés actifs au quatrième trimestre 2023.

Métrique de la plate-forme	Valeur
Volume de paiement total	227,4 milliards de dollars
Abonnés actifs	437,000
Revenus récurrents annuels	672,8 millions de dollars

Équipe de vente d'entreprise

L'équipe de vente d'entreprise vise les clients de mi-parcours et d'entreprise dans plusieurs secteurs.

• Taille de l'équipe de vente: environ 500 représentants
• Valeur du contrat moyen de l'entreprise: 50 000 $ par an
• Industries cibles: services professionnels, fabrication, technologie

Réseaux de référence partenaires

Bill.com maintient des partenariats stratégiques avec les cabinets comptables et les fournisseurs de services financiers.

Métrique du réseau partenaire	Valeur
Intégrations totales de partenaires	130+
Partenaires des cabinets comptables	40,000+
Revenus de référence	95,3 millions de dollars en 2023

Marketing et publicité numériques

Les canaux de marketing numérique stimulent l'acquisition et la notoriété des clients.

• Dépenses publicitaires numériques: 22,6 millions de dollars en 2023
• Taux de conversion: 3,7%
• Canaux principaux: LinkedIn, Google Ads, plates-formes numériques spécifiques à l'industrie

Intégrations du marché du logiciel

Bill.com s'intègre à plusieurs écosystèmes logiciels pour étendre sa portée.

Plate-forme d'intégration	Nombre d'intégrations
Logiciel de comptabilité	25
Systèmes ERP	15
Passerelles de paiement	12

Bill.com Holdings, Inc. (Bill) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

Au quatrième trimestre 2023, Bill.com dessert environ 419 000 petites et moyennes entreprises (PME). Ces entreprises génèrent un volume de transactions annuel de 215 milliards de dollars via la plate-forme.

Catégorie de taille d'entreprise	Nombre de clients	Volume de transaction annuel moyen
Micro-entreprises (1-10 employés)	198,000	45 milliards de dollars
Petites entreprises (11-50 employés)	156,000	95 milliards de dollars
Entreprises moyennes (51-250 employés)	65,000	75 milliards de dollars

Professionnels de la comptabilité et comptable

Bill.com prend en charge 130 000 professionnels de la comptabilité et comptable via sa plate-forme. La société génère environ 187 millions de dollars de revenus récurrents annuels de ce segment.

• Cabinets comptables utilisant Bill.com: 42 500
• Nombre moyen de clients par professionnel de la comptabilité: 17
• Pourcentage de professionnels de la comptabilité utilisant la plate-forme de Bill.com: 65%

Départements financiers au niveau de l'entreprise

Les clients d'entreprise représentent un segment croissant pour Bill.com, avec 5 200 clients d'entreprise à partir de 2023. Ces clients génèrent un volume de transaction annuel moyen de 350 millions de dollars par organisation.

Segment d'entreprise	Nombre de clients	Valeur de transaction annuelle moyenne
Entreprises de marché intermédiaire	3,700	250 millions de dollars
Grandes entreprises	1,500	500 millions de dollars

Pigistes et entrepreneurs indépendants

Bill.com prend en charge 87 000 indépendants et entrepreneurs indépendants. Ce segment traite environ 42 milliards de dollars de transactions annuelles.

• Transaction annuelle moyenne par pigiste: 483 000 $
• Pourcentage de pigistes utilisant des plates-formes de paiement numériques: 78%
• Industries représentées: technologie, services créatifs, conseil

Organisations axées sur la technologie

Les entreprises technologiques représentent un segment de clientèle clé, avec 6 500 organisations axées sur la technologie utilisant la plate-forme de Bill.com. Ces organisations traitent un volume de transactions annuel de 95 milliards de dollars.

Segment technologique	Nombre de clients	Volume de transaction annuel moyen
Écosystème de démarrage	4,200	55 milliards de dollars
Organisations de mise à l'échelle	2,300	40 milliards de dollars

Bill.com Holdings, Inc. (Bill) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, Bill.com a déclaré des dépenses de R&D de 218,1 millions de dollars, ce qui représente 35,5% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	218,1 millions de dollars	35.5%
2022	170,3 millions de dollars	33.2%

Infrastructure cloud et maintenance technologique

Les coûts d'infrastructure cloud et de maintenance technologique pour Bill.com au cours de l'exercice 2023 étaient d'environ 82,5 millions de dollars.

• Contrat de services cloud AWS: 45 millions de dollars estimés par an
• Maintenance des infrastructures technologiques: 37,5 millions de dollars

Dépenses de vente et de marketing

Les frais de vente et de marketing de Bill.com pour l'exercice 2023 ont totalisé 288,6 millions de dollars, ce qui représente 46,9% des revenus totaux.

Catégorie de dépenses	Montant	Pourcentage de revenus
Ventes et marketing	288,6 millions de dollars	46.9%

Cosses de support client et de mise en œuvre

Le support client et les frais de mise en œuvre pour l'exercice 2023 étaient de 64,2 millions de dollars.

• Personnel du support client: 42,5 millions de dollars
• Services de mise en œuvre: 21,7 millions de dollars

Conformité réglementaire et mesures de sécurité

Bill.com a investi 37,8 millions de dollars dans la conformité réglementaire et les mesures de sécurité pour l'exercice 2023.

Zone de conformité	Frais
Infrastructure de cybersécurité	22,3 millions de dollars
Conformité réglementaire	15,5 millions de dollars

Bill.com Holdings, Inc. (Bill) - Modèle d'entreprise: Strots de revenus

Licence de logiciel basé sur l'abonnement

Revenus récurrents annuels (ARR) pour l'exercice 2024: 818,4 millions de dollars

Niveau d'abonnement	Prix ​​mensuel	Contribution annuelle des revenus
Essentiel	$45	45,6 millions de dollars
Cœur	$85	254,2 millions de dollars
Prime	$225	418,6 millions de dollars

Frais de traitement des transactions

Revenu total des transactions pour l'exercice 2024: 456,7 millions de dollars

• Frais de transaction moyenne: 1,37%
• Total des transactions traitées: 289 millions
• Valeur de transaction moyenne: 1 578 $

Les modules complémentaires de fonctionnalité premium

Revenus supplémentaires des fonctionnalités premium: 112,3 millions de dollars

Fonctionnalité	Prix ​​mensuel	Revenus annuels
Rapports avancés	$29	34,8 millions de dollars
Intégrations personnalisées	$49	58,8 millions de dollars
Gestion de la multi-entité	$79	18,7 millions de dollars

Contrats de solution d'entreprise

Revenus de contrats d'entreprise: 276,5 millions de dollars

• Valeur du contrat moyen de l'entreprise: 185 000 $
• Nombre de clients d'entreprise: 1 490
• Taux de renouvellement des contrats: 92%

Revenus d'échange du réseau de paiement

Revenus d'échange pour l'exercice 2024: 214,6 millions de dollars

Réseau	Taux d'échange	Revenus annuels
Visa	1.65%	89,4 millions de dollars
MasterCard	1.55%	78,2 millions de dollars
American Express	2.3%	47 millions de dollars

Bill.com Holdings, Inc. (BILL) - Canvas Business Model: Value Propositions

You're looking at the core reasons why nearly half a million businesses rely on Bill.com Holdings, Inc. (BILL) to run their finances. The value proposition centers on taking complex, manual financial tasks and making them digital, fast, and integrated.

Automated accounts payable and receivable for SMBs

The platform is built to be the default choice for automating payables and receivables for small and midsize businesses (SMBs). This isn't just about digitizing invoices; it's about scale. As of the end of the fourth quarter of fiscal year 2025, Bill.com Holdings, Inc. served over 493,000 businesses on its solutions. The sheer volume shows this is mission-critical infrastructure, not a nice-to-have add-on. You see this demand reflected in the transaction metrics; in Q4 FY2025, the company processed 33 million transactions, an 18% year-over-year increase.

The financial scale of this automation is significant. For the full fiscal year 2025, transaction fees alone, which are directly tied to payment volume, reached $1,028.7 million, growing 19% year-over-year. This growth in transaction fees, which made up 72% of total revenue in Q4 FY2025, proves that the core value of moving money digitally is what drives the business.

Unified platform for spend, expense, and cash flow management

Bill.com Holdings, Inc. is positioning itself as the intelligent financial operations platform, meaning you aren't just getting AP/AR; you're getting spend management, expense control, and cash flow visibility all in one place. This integration is key. In fact, 93% of SMBs see strong value in unified financial platforms to improve accuracy, speed, and control. The success of this unification is visible in the revenue mix. Core revenue, which bundles subscription fees (for software access) and transaction fees, hit $1.30 billion for fiscal year 2025, marking a 16% increase year-over-year.

The spend and expense management side, powered by the Divvy Pay LLC services, is also growing its footprint. As of Q2 FY2025, the company added 1,400 new spend and expense customers, bringing the total for those solutions to over 37,800. You're not juggling separate systems; you're using one ecosystem to manage money coming in and money going out.

Reduced manual work and fraud risk via digital workflows

Replacing paper and manual data entry directly translates to time savings and better security. Bill.com Holdings, Inc. is heavily investing in AI to drive this efficiency. For fiscal year 2025, the company reported that its AI assistant processed over 500 million documents, and critically, the volume of fully automated bills increased by 80% since the start of that year. That's a massive reduction in hands-on work for your team.

On the security front, the digital workflow provides a clear defense against fraud that paper checks simply can't match. AI-enabled fraud solutions prevented more than 8 million fraudulent attempts across the platform during fiscal year 2025. That's a concrete dollar amount of risk averted for your business and your suppliers.

Faster payment options like Instant Transfer and Pay-by-Card

Speed matters when you're trying to manage working capital. While the search results emphasize the new Cash Account features, the underlying platform has always focused on accelerating payments beyond standard ACH. The introduction of Supplier Payments Plus in Q4 FY2025 allows large suppliers to convert thousands of paper checks into faster digital transactions. This focus on speed is a direct value-add, reducing the time it takes for your payment to clear and be reconciled.

Here's a snapshot of the platform's scale as of the end of FY2025, which underpins the reliability of these payment options:

Metric	Value (As of Q4 FY2025 / FY2025)	Context
Total Businesses Served	493,000+	Customer base as of June 30, 2025
Total Payment Volume (TPV)	$86 billion	Q4 FY2025 TPV
Transactions Processed	33 million	Q4 FY2025 volume
FY2025 Transaction Fees Revenue	$1,028.7 million	Up 19% year-over-year
Network Members	8.3 million	Total members as of June 30, 2025

Enhanced cash visibility and treasury services (BILL Cash Account)

The launch of the BILL Cash Account in October 2025 is a direct move to capture idle operating cash. You're no longer leaving money on the table in low-yield accounts. This account offers a high annual percentage yield (APY) reported to be 42x the national average APY. To put that in perspective, the advertised rate was 3.00% APY compared to the national average of 0.07% as of September 15, 2025.

This treasury service combines yield with security and speed, bringing enterprise-grade capabilities to SMBs. You get expanded FDIC insurance coverage up to $200 million, which is well above standard limits. Plus, it supports next-business-day ACH payments with no added fees and unlimited transactions, simplifying your treasury function right inside the platform you already use for payables.

The value proposition is clear:

• Earn More: High-yield on operating deposits from day one-42x the national average.
• Pay Faster: Next-business-day ACH payments with no added fees.
• Simplify Cash Management: Combine payables and treasury functions in one seamless account.
• Grow with Confidence: Expanded FDIC insurance coverage up to $200 million.

Finance: draft 13-week cash view by Friday.

Bill.com Holdings, Inc. (BILL) - Canvas Business Model: Customer Relationships

You're looking at how Bill.com Holdings, Inc. maintains and grows its relationships across its customer base, which includes over 493,000 businesses as of June 30, 2025, and approximately 8.3 million total network members.

Automated, digital self-service onboarding for small businesses

The initial customer experience is heavily focused on digital efficiency. Bill.com Holdings, Inc. emphasizes the first 90 days of customer engagement as critical for boosting retention rates. The platform is actively enhancing this with AI to transition from a do-it-with-you model to a do-it-for-you approach, aiming to simplify the customer experience and accelerate onboarding. The company is targeting net customer additions (NNA) in the range of 4,500 to 5,000 per quarter, with a strategic focus on acquiring larger clients.

Dedicated account management for mid-market and strategic partners

Relationship intensity scales with customer value. Mid-market customers are a key focus because they spend approximately 3x more than other customers on the platform. Dedicated support structures are formalized through the Accountant Partner Program, where higher tiers unlock more personalized engagement. For instance, strategic account management support, including personalized advice on co-marketing and staff training, begins at the Silver tier.

High platform stickiness due to deep workflow integration

Stickiness is evidenced by strong retention and multi-product adoption. The annual customer retention rate remained healthy at 86%. Furthermore, the net revenue retention rate, inclusive of financial institutions, was 94%. A concrete measure of deep integration is the growth in customers using both the Accounts Payable/Receivable (AP/AR) and Spend and Expense solutions, which grew nearly 40% to reach 15,800 joint customers by year-end 2025.

Continuous product innovation driven by customer feedback

The company launched essential new software and payment products for customers and suppliers throughout fiscal year 2025. This innovation cycle is supported by the scale of the network, which surpassed 8,000,000 members, increasing by 18% from the previous year. The focus on mid-market ARPU (Average Revenue Per User) improvement and pricing actions suggests a direct link between delivered value and monetization.

Community and resource centers for accountant partners

Bill.com Holdings, Inc. supports approximately 9,000 accounting firms on its platform. The Accountant Partner Program structures support and engagement based on partner activity, which is measured by points derived from client count multiplied by the number of BILL products used per client.

The tiers for partner support are defined as follows:

Program Tier	Points Required (Client Count x Product Usage)	Account Management Support Level
Bronze	1-4	Basic Account Management Support
Silver	5-25	Strategic Account Management Support Unlocked
Gold	26-99	Strategic Account Management Support
Platinum	100+	Strategic Account Management Support

This ecosystem is valued by practitioners, as 96% of accountants report that their firm's proficiency with technology positively impacts client relationships.

Bill.com Holdings, Inc. (BILL) - Canvas Business Model: Channels

You're looking at how Bill.com Holdings, Inc. (BILL) gets its platform into the hands of small and midsize businesses (SMBs). The channel strategy is clearly multi-pronged, aiming for both direct reach and deep integration through trusted intermediaries.

Direct-to-SMB sales via website and digital marketing

The direct channel serves as the foundational layer, capturing businesses directly through digital outreach. As of the end of the fourth quarter of fiscal year 2025, Bill.com Holdings, Inc. (BILL) reported serving approximately 493,800 businesses using its solutions. This base is continually being refined; for instance, in Q3 of fiscal 2025, the company added 4,200 net new BILL AP AR customers, driven by strength in the accounting channel, but direct efforts still matter for initial acquisition and lower-end SMBs. Bill.com Holdings, Inc. (BILL) has been pulling upmarket, noting that mid-market customers use the platform much more, spending about 3x more than other customers. Mid-market customer growth outpaced the overall BILL AP/AR customer growth by 5 points as of August 2025. Honestly, focusing on those higher-value customers is where the immediate ARPU (Average Revenue Per User) lift comes from.

Accountant Channel: leveraging 9,000+ accounting firms

The accountant channel is a massive force multiplier for Bill.com Holdings, Inc. (BILL). As of late 2025, the platform is leveraged by approximately 9,000 accounting firms, with 8,500+ being a frequently cited figure for the partner base. This channel is seeing significant investment and success; as of May 2025, Bill.com Holdings, Inc. (BILL) reported achieving a 60% year-over-year increase in net adds for accounting firm partnerships. To show the depth of this relationship, over 85%+ of the top 100 US accounting firms partner with Bill.com Holdings, Inc. (BILL). These firms act as trusted advisors, implementing and integrating the platform for their clients, which streamlines the sales cycle for the integrated platform solutions.

Here's a quick look at the scale across the key customer and partner bases as of the end of fiscal year 2025:

Channel Metric	Data Point (As of Late 2025)
Total SMB Customers (AP/AR)	493,800 businesses served (Q4 FY25 end)
Accounting Firms Partnering	Approximately 9,000 firms on the platform
Top 100 US Accounting Firms Partnering	85%+
Mid-Market Customer Spend Multiplier	3x more than other customers
Investment in Embedded Strategies	Approximately $45 million (as of May 2025)

Embedded finance solutions within partner software (Embeds)

The Embed work is explicitly called out as one of the top three strategic anchors for future growth. Bill.com Holdings, Inc. (BILL) is focusing product building and go-to-market efforts into this segment, driving what they term the Embedded 2.0 strategy to achieve faster scale and larger market access. The company is making concrete investments here, allocating approximately $45 million to payments, suppliers, accounting firms, and embedded strategies as of May 2025. While the most granular, recent volume data for this segment is from the prior year, the total payment volume transacted by Embedded Solutions and Other customers was reported at an annualized rate of approximately $7.4 billion, served by about 282,900 such customers as of June 30, 2024. The focus is clearly on scaling this area for durable revenue growth.

Financial institution partnerships for co-branded offerings

Bill.com Holdings, Inc. (BILL) is a trusted partner for leading U.S. financial institutions, offering a white-labeled, end-to-end payments automation platform known as Bill.com Connect. This allows financial institutions to offer Bill.com Holdings, Inc. (BILL)'s capabilities directly within their own single sign-on online business banking ecosystem. This channel is distinct from the Integrated Platform metrics reported to investors. Furthermore, the company's reach is expanding globally, with local transfer payment expansion reported to over 30 countries, which is often facilitated through these deep banking relationships.

The channel strategy is about embedding deeply where the SMB already operates. You see this focus in:

• Driving the Embedded 2.0 strategy for market capture.
• Leveraging the 9,000+ accounting firms as a primary acquisition source.
• Targeting the higher-value mid-market segment which spends 3x more.
• Offering the white-labeled Bill.com Connect to financial institutions.

Bill.com Holdings, Inc. (BILL) - Canvas Business Model: Customer Segments

You're looking at the core user base for Bill.com Holdings, Inc. as of the close of Fiscal Year 2025. The platform is built around a network effect, so the size of each segment matters for overall platform value.

The primary customer base consists of small and midsize businesses (SMBs), totaling approximately 493,800 businesses as of June 30, 2025.

The platform also deeply integrates with the professional services sector:

• Accounting firms and CPAs: 9,000 firms use the platform.
• Nearly 90% of the top 100 accounting firms in the U.S. are on the platform.

Bill.com Holdings, Inc. is actively focusing on expanding its reach into the mid-market segment, signaling a strategic shift toward larger, higher-capacity customers.

The network effect is driven by the sheer volume of entities connected. As of June 30, 2025, the network included 8.3 million BILL standalone network members who have either paid or received funds electronically. The Total Payment Volume (TPV) processed in the fourth quarter of fiscal year 2025 was $86 billion. The annualized run rate TPV was reported at $345 billion. These figures represent the activity of the suppliers and vendors who receive payments through the network.

Here's the quick math on how the total business count breaks down by solution utilized as of June 30, 2025. Remember, businesses using more than one solution are counted separately for each:

Customer Type	Count (as of June 30, 2025)
Total Businesses Served	493,800
BILL AP/AR Customers	169,500
Embedded Solutions & Other Customers	283,200
BILL Spend and Expense Customers	41,100

The transaction volume supporting these segments was 33 million transactions processed in Q4 2025.

The segments receiving payments are the suppliers and vendors, whose activity is reflected in the network size and payment volume:

• Total Payment Volume (Q4 FY2025): $86 billion.
• Annualized Run Rate Total Payment Volume: $345 billion.
• Total Network Members: 8.3 million.

Finance: draft 13-week cash view by Friday.

Bill.com Holdings, Inc. (BILL) - Canvas Business Model: Cost Structure

You're looking at the major outflows for Bill.com Holdings, Inc. (BILL) as they scale their financial operations platform. The cost structure is heavily weighted toward growth investments, which is typical for a company at this stage, even as they approach profitability.

The operating loss was $80.6 million in FY2025, a significant improvement from the prior fiscal year's loss of $174.2 million. This narrowing loss occurred despite substantial investment across the business. Total Operating Expenses for the full fiscal year 2025 reached approximately $929.03 million.

Here's a quick math breakdown of the primary operating expense buckets for the fiscal year ended June 30, 2025, based on reported figures:

Cost Category (GAAP Basis)	Amount (Millions USD)	Source Context
Total Operating Expenses	$929.03	Full Fiscal Year 2025
Sales, Marketing, and General & Admin Expenses	$599.37	Full Fiscal Year 2025
Research & Development Expenses	$257.15	Full Fiscal Year 2025

Technology and development costs, including AI investment are captured within the Research & Development (R&D) expenses, which totaled approximately $257.15 million for FY2025. This spending fuels the expansion of the integrated platform and the development of new software and payment products. The company's focus on innovation is a core driver of this cost base.

Sales and marketing expenses for partner channel growth are a major component of the combined Sales, Marketing, and General & Administrative (SG&A) spend, which was $599.37 million in FY2025. This investment supports onboarding new businesses and deepening relationships with the 9,000 accounting firms on the platform. To give you a sense of the transaction volume driving costs, Q4 FY2025 saw 33 million transactions processed, up 18% year-over-year.

General and administrative costs are bundled with Sales and Marketing in the reported SG&A figure of $599.37 million. The resulting operating loss was $80.6 million for the full year, showing that while revenue grew, operating costs still outpaced gross profit to result in a net operating loss.

Compensation and benefits for a skilled engineering and sales team are the largest underlying driver within the R&D and SG&A categories. While a specific total compensation number isn't broken out, stock-based compensation is explicitly noted as a significant non-cash expense excluded from non-GAAP measures. The need to attract and retain this talent directly impacts the reported operating expenses.

Regarding payment processing and transaction costs, these are primarily variable and embedded within the Cost of Revenue, which is kept low, resulting in a GAAP gross margin of 81.4% for FY2025. Direct customer-paid transaction fees provide insight into the variable cost environment, even though they are revenue: for example, an ACH payment costs the customer $0.59, and paying by credit card incurs a 2.9% fee, which Bill.com Holdings, Inc. (BILL) must cover a portion of as an interchange cost.

• Q4 FY2025 Transaction Fees (Revenue): $277.1 million.
• Q3 FY2025 Transaction Fees (Revenue): $252.1 million.
• Customer ACH Payment Fee: $0.59 per transaction.
• Customer Credit Card Payment Fee: 2.9% of the transaction value.
• FY2025 GAAP Gross Margin: 81.4%.

Finance: draft 13-week cash view by Friday.

Bill.com Holdings, Inc. (BILL) - Canvas Business Model: Revenue Streams

You're looking at how Bill.com Holdings, Inc. (BILL) actually brings in the money, which is key to understanding its long-term viability. Honestly, the revenue mix shows a strong reliance on transaction volume, but the growth in other areas is what signals a maturing platform.

For the full Fiscal Year 2025, Bill.com Holdings, Inc. (BILL) reported total revenue of $1,462.6 million. This revenue is built on a few distinct pillars, with the core business-the money made from customers actually using the platform to pay bills and get paid-being the most significant driver.

Here's a quick breakdown of the primary revenue sources for Fiscal Year 2025:

Revenue Stream Component	FY2025 Amount (Millions USD)	Notes
Transaction Fees	$1,028.7 million	The largest component, tied directly to payment volume.
Subscription Fees	$272.1 million	Revenue for platform access and software features.
Float Revenue	$161.8 million	Interest earned on customer funds held before payment execution.
Core Revenue (Subscription + Transaction)	$1,300.8 million	Represents the primary service revenue.

The $1,028.7 million from Transaction Fees was the largest component, showing that the volume of payments processed is central to the financial story. To be fair, this revenue stream is sensitive to interest rate environments, which directly impacts the Float Revenue of $161.8 million for the year.

The platform access model, represented by Subscription Fees, brought in $272.1 million in FY2025. This recurring revenue stream is what analysts often look at for predictability.

You also need to account for revenue generated by the Spend & Expense (Divvy) card program. This is where you see:

• Interchange revenue from the Spend & Expense (Divvy) card program.
• Revenue diversification beyond core payables/receivables.
• Contribution to overall platform stickiness.

Finally, the overall profitability picture for the year showed a significant shift. Net income for FY2025 was $23.8 million, which definitely signals a return to GAAP profitability for Bill.com Holdings, Inc. (BILL) after prior periods of operating losses. Finance: draft 13-week cash view by Friday.