Business Performance - As of June 30, 2024, approximately 474,000 businesses processed 292billioninTotalPaymentVolume(TPV)usingthecompany′ssolutions[15]−Theplatformsupportsaround7.1millionnetworkmemberswhohaveengagedinelectronicpaymentsthroughthecompany′sservices[15]−AsofJune30,2024,thecompanyhasapproximately7.1millionnetworkmembers,whichincludesstandalonecustomers,suppliers,andclientswhohavetransactedelectronicallyviatheplatform[33]ProductOfferings−Theintegratedplatformlaunchedinfall2023combinesaccountspayableandreceivablefunctionalities,enhancingvisibilityandcontrolforbusinesses[18]−Theaccountspayableautomationservicestreamlinesthepaymentprocess,providingvisibilityintocashinflowsandoutflows[19]−Theaccountsreceivableserviceautomatesinvoicecreationandfundscollection,offeringcompletevisibilityintotheaccountsreceivableprocess[21]−Thespendandexpensemanagementtoolsallowbusinessestoissuecorporatecardsandmanagebudgetseffectively,withreal−timevisibilityintospending[22]−ThecompanyfacilitatesACHtransactions,cardpayments,andreal−timepayments,enhancingthespeedandsecurityoffinancialtransactions[24]−Theplatformintegrateswithleadingaccountingsystems,automatingreconciliationandminimizingdataentryactivities[25]RiskManagementandSecurity−TheuniquedataassetfromprocessingmillionsofdocumentsenablesthecompanytoleverageAIforriskmanagementandoperationalefficiency[31]−Forfiscal2024,thefraudandcreditlossratesforthecompany′sstandalonepaymentserviceswerelessthan0.01180.0 million from its Revolving Credit Facility as of June 30, 2024, with interest costs indexed to SOFR[391] Intellectual Property - The company had 25 issued patents in the U.S. as of June 30, 2024, with expiration dates ranging from 2028 to 2042, and seven pending patent applications[69]
BILL (BILL)2024-08-23 20:06