Save Time By Automating Your Financial Process (Interview & Bonus Tips from Bill.Com Founder)Sandeep Babu
Are you struggling to grow your business? The ongoing pandemic has hurt most small businesses. And many of these affected businesses are still finding it difficult to stay afloat. However, there are some entrepreneurs whose grit never let them give up.
Ramon Ray recently interviewed René Lacerte, the founder of Bill.com – one of the nation’s leading business payments networks. During the discussion, René shared valuable tips to grow your small business during difficult times.
Before diving into the tips, let’s explore some background first.
Entrepreneur By Blood
René Lacerte hails from a family of entrepreneurs. His grandfather was a business owner, and his father built five businesses. So you can say that René has entrepreneurship in his blood. And he has proved it by building successful businesses.
René founded Bill.com in 2006. The company is a leading cloud-based payments platform now, serving millions of businesses and the top accounting firms in the country.
Prior to Bill.com, he built PayCycle and sold it to Intuit. And he has been featured in the 100 most influential people in the accounting industry by Accounting Today for seven years in a row.
During the interview, René shared his passion for empowering small business owners.
In his own words,
And so oftentimes, what you see is all these great things being invented for enterprise companies. Well, who’s taking care of the SMBs, and who is going to help them figure out how to automate their processes?
Bill.com came into existence to help small to medium businesses automate their financial processes.
How Bill.Com Is Helping Small Businesses
Small business owners have to carry out various financial activities regularly. These tasks include but not limited to:
- Sending invoices
- Approving bill payment
- Paying bill payments
- Reconciliation of bill payments
Needless to say, these financial tasks require time and resources. Bill.com facilitates businesses to pay and get paid quickly without much hassle.
The cloud-based system can enable small businesses to reduce the time spent on account payable and receivable tasks by 50% or more.
We eliminate steps. We eliminate walking around and getting approvals on bills. We eliminate printing checks. We eliminate scientists. We eliminate reconciliation of those payments. We eliminate the hassling of the customer that owes you money. We eliminate all these steps, the reconciliation, and that simplifies time.
Tips to Grow Your Small Business
Bill.com has been working with millions of successful small businesses.
Here are two business growth tips, which have been highlighted from the interview:
Take Care of Your Customers
It is simple – you take care of your customers, and your customers will take care of your business.
All successful businesses have a loyal fan base, and loyalty comes from caring.
That being said, you should always get ready to go the extra mile to serve your customers. Make them believe that you are there for them.
Always take care of your customers, you got to always do what’s right for your customers. And you can’t hold back on doing what’s right, even if it cost you to lose the business.
Adapt to the Situation
The pandemic has changed the way businesses used to work. Now, more and more businesses are adopting technology to overcome the challenges the COVID-19 presented. For example, Businesses are increasingly leveraging the power of remote working.
As a small business owner, you should always get ready to adapt to the present situation. This is the only way to survive and grow during tough times. And all successful businesses do the same.
Bill.com founder emphasized,
Adaptation is something that’s really valuable. And something that, you know, I’ve seen happen across all of our customers because they’ve had to do that.
Check out the full interview below to learn more about building and growing a small business.