“I believe SMBs deserve innovation,” says Bill.com CEO and founder Rene Lacarte. “That innovation that we focus on is around the digital processes that are lacking in the back office of SMBs. We’ve seen it in part with the pandemic showing that there’s a need for being digital and to be able to run your business from anywhere. It’s a requirement now. The pandemic reinvention is real and something that we think is going to stick around.”
Rene Lacarte, CEO of Bill.com, says that the pandemic reinvention is real for small and medium-sized businesses and that they need to innovate and digitize the back office:
SMBs Deserve Innovation
At the core of why I started the company is that I believe SMBs deserve innovation. That innovation that we focus on that I really believe is missing out there is around the digital processes that are lacking. We digitize the back office. Then we connect that back office to the banking system so money can move, to the accounting system so records can be reported, and to the accounting firms that they’re involved with.
All of that connection creates a connective tissue that operates and automates the financial operations. Because of that it’s driving demand, it’s driving opportunity, and it’s driving growth across our existing customers as well as the new customers coming in. That’s how we do it. That’s how we bring the back office into the back pocket.
Pandemic Reinvention Is Real For SMBs
Nobody gets into business to actually do the back office. I grew up in small businesses. My parents had small businesses. My grandparents had small businesses. A lot of our friends had small businesses. This was always the bane of existence. This is what people had to do on Friday night. Who wants to do this on a Friday night? That’s what people are doing when they’re trying to run their business from their back pocket when they don’t have the tools. They have to do it at night at home.
We take care of that. We automate the processes. That’s what’s driving the demand, it’s the opportunity. We’ve seen it in part with the pandemic showing that there’s a need for being digital. This opportunity to be able to run your business from anywhere is a requirement now. The pandemic reinvention is real and something that we think is going to stick around.