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BILL WANTS ACC’TANT CROSS SELL Featured

Bill wants to develop more cross-selling of its products via its accountant channel.

CFO John Rettig cited the desire to increase cross selling throught the accountant channel during the company’s recent earnings call for the year ended June 30. Rettig said progress in cross selling has come in customers acquired through direct marketing. “To a much smaller degree, have we seen cross-sell activity within our accounting channel,” he said. Retting talked about “starting to activate this cross-sell motion” in its accounting channel. For fiscal 2024, the payments software company lost $28.9 million, down from $223.7 million the prior year. Revenue for the recently ended year was $1.29 billion, up 22 percent from $1.1 billion for fiscal 2023. Bill noted that its spend and expense business, the former Divvy, had $126 million in revenue in the fourth quarter, an increase of 26 percent year-over-year with 28 percent card payment volume growth. Core revenue, including subscription and transaction fees exceeded $1 billion for the year an  was $301 million, up 16 percent, for the fourth quarter.

 

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