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Supercharge Your Accounting

Software

Chris Fenster, Propeller Industries

Julie Carman, Bill.com


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Chris Fenster, Propeller Industries

• CEO and Founding Partner

• Consulting CFO to 50+ early-stage

businesses

• Thirteen years as full-time CFO for

five early-stage companies

• A.B. in Economics and Political

Science from Colgate University

• 70+ clients, $0-$20M annual

revenue

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Agenda

• Propeller Industries

• Signs You May Be Outgrowing Accounting Software

• How to Extend the Life of Your Accounting Software

• Client Story

• Q&A

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» Fifth levelPROPELLER INDUSTRIES

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Propeller Industries Offering

• Outsourced finance and accounting services for early-

stage companies

• Entrepreneurs, CFOs and accountants with deep

experience building companies

• Top-down focus: Strategy, forecasting, reporting,

accounting

• Heavy reliance on web-based systems and automation

to manage scale efficiently

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Propeller Industries Client Focus

• Early-stage growth companies

• E-commerce, health care, technology, manufacturing,

food and beverage

• Focusing resources on core competencies

• Firms that are outgrowing bookkeeping relationship

and/or systems

• Critical need for financial management expertise –

necessary to success!

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» Fifth levelSIGNS YOU MAY BE OUTGROWING

ACCOUNTING SOFTWARE

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Do Any of These Sound Familiar?

• You feel you may be outgrowing your accounting

software

• Concerned about the cost of your accounting software;

for now and the future

• You and your team are stuck in a paper-based manual

process

• Collecting receivables is a time consuming, labor-

intensive process

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Signs You May be Outgrowing Your

Accounting Software

• You might not be seeing the full picture of your

current financial status

• Too much time is spent chasing information to

categorize bills

• Unable to share financial info quickly and easily

• Inaccurate receivables predictions

• Late payments to vendors or employees

• Constant rebuilding of cash flow spreadsheets

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Accounting Software Does Not Solve the

Manual Process

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What’s Wrong with the Manual Process?

• You route paper bills to your team before paying – they

write “OK to pay” and pass along

• A vendor has called to say service is being turned off

because a bill wasn’t paid – bill was on someone’s desk

• Business leaders need to access paper-based originals

to do research on previous payments, figure out COGS

• You double pay because you are not sure if your

payment last month missed the cut off

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» Fifth levelHOW TO EXTEND THE LIFE OF YOUR

ACCOUNTING SOFTWARE

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Supercharge: Expand the Capability of

Your Accounting Software

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Move Your Process to the Cloud

• Easily communicate with internal staff, vendors, &

customers around bills, invoices and contracts

• Quickly engage employees in multiple locations

• “Approvers” are no longer a bottleneck

• Get precision control over your cash flow

– Project receivables realistically

– Foresee potential problems

– Rapidly visualize alternatives

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Cloud Tools for ANY Process

• Dropbox, Google Docs – sharing files and document

storage

• GoToMeeting, Skype - video and conference calls

• Docusign – e-signatures

• Adobe FormsCentral, SurveyMonkey - forms

• Evernote – note taking, screenshots

• QBO, Intacct – accounting software

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Cloud is Safer than Your Office

Paper documents are subject to theft

and destruction

• Prevent “lost” bills, invoices and

contracts

• Eliminate risk of manipulation

• Reduce risk of information theft

• Keep tight control over access

• Automatic audit trail; you can’t

override it!

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Security is Integral to Our Business

• Bill.com uses best-in-class data security (Extended Validation

(EV) SSL encryption technology)

• Firewalls prevent unauthorized electronic access to servers

• Production servers are in high-security locked facility with

biometric access controls preventing unauthorized physical

access to servers

• All sensitive data is encrypted at rest in our database

• Offsite continuous backup enables Bill.com to recover from a

potential disaster quickly

• Bill.com undergoes an annual SSAE 16 SOC 1 Type II Audit by a leading national CPA Firm

17Bill.com Confidential


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Improve Your Processes and Controls

• Approvals

– Implement a seamless workflow

– Automate your approval routing process

– Keep track of all due dates

• Roles and Permissions

– Include extensive robust permission policies

– Greater control over access and elimination in errors

– Control who sees which information


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Improve Your Processes and Controls

• Visibility into the entire process and workflow

– Have a record of all approvals

– See every bill and invoice in the same place

– Know when all your bills are due and when you will get paid by

customers

– Keep track of all due dates

– See an audit trail of all activities


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Approve Bills Easily



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Customize Roles and Policies for Greater

Control



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Pay Your Bills With No Hassles

• Faster, easier bill payment and invoicing

• Keep track of all your due dates - pay automatically on

the day you schedule

• Save time; integrate with your accounting software

• Move money via ePayments or check

• Rake in receivables 2-3 times faster

• Shows when customers view, approve and plan to pay

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Pay and Get Paid Electronically



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Access Historical Docs and Transactions

• Store contracts with bills for one-click access

• Paperless – never lose or forget anything

• Information easily accessible

• No more filing cabinets

• Streamline reporting

– Be prepared for a seamless audit,

if needed

– Track the invoices you’ve sent to

customers and the bills you’ve

routed to your team


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Docs and Transactions in a Single Click



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Go Mobile – Access Anytime, Anywhere

• Access financial data with any

device – laptop, tablet or

smartphone

– Manage invoices and documents

– Pay bills

– Collect receivables

– Manage cash flow

• Never lose or forget anything

• Store contracts with bills for one-

click access


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» Fifth levelCLIENT STORY: BIOLITE STOVE

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BioLite Stove

• Launched in May 2012, sold tens of thousands of units

by year-end

• 80% growth in 2013

• Complex supply chain - Brooklyn NY based,

manufacturing in China, warehousing in CA and Canada

• Employees based in 3 states and extensive overseas

travel for R&D

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Challenges

• Traveling approvers can’t access financial info or

approve payments

• Employees in 3 states need to review bills

• Paper invoice management and routing inefficiencies

– Extra manual work for CEO

– Double payments

– Late payments

• Cash flow management

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Solutions

• Migrate QuickBooks to Enterprise version on hosted

server for multi-site inventory

• Implement Bill.com & redirect vendors to invoice in

the Cloud

• Integrate shopping cart with QuickBooks

• Implement web-based EDI for wholesale orders

• Smartphone-based expense reporting

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Results

• Total transparency – everyone has on-demand access to

all financial data through Bill.com

• CEO can easily route vendor invoices to department

heads for approval from anywhere in the world using

Bill.com

• Instant access to payroll and HR

applications

• Defer systems upgrade for a year

or more

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» Fifth levelWHAT IS BILL.COM?

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Bill.com Automates Manual Process and

Supercharges Your Accounting Software

• Application that maximizes your

accounting software by:

– Document management

– Approval workflow

– Notes & collaboration

– Two-way accounting system

synchronization

– Online banking & payment system

integration

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Syncs with Your Accounting Software

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Set Up in Less Than an Hour1. Sync

Sync with your accounting system,

and all your data magically

appears.

2. Connect

Connect your bank

account for paying bills

and making deposits

3. Control

Enter user names and

assign access levels

4. Customize

Add your logo.

Customize web page

where customers can

pay you online. Set up

to receive electronic

payments

5. Coffee!

You are ready with 15

minutes to spare! Enjoy

a coffee break!

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» Fifth levelCONTACT US

Learn more at www.bill.com.

Contact 1.877.345.BILL or [email protected]

Watch demo at: www.bill.com/demo

Bill.com Confidential 37

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