How to Lead with Intentionality with René Lacerte of Bill.com
Feb 23, 2022
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René Lacerte, founder of Bill.com, discusses the importance of intentionality in business expansion and acquisitions. He also highlights the impact of COVID-19 on small businesses and the need for innovative solutions. Lacerte emphasizes serving small and medium-sized businesses and the role they play in creating communities.
Patience has been a vital tool in René Lacerte's 15-year journey at Bill.com.
Embracing technology, automating processes, and staying resilient are crucial for small business survival and growth.
Deep dives
Build.com: Transforming Financial Operations
Build.com is a cloud-based software provider that simplifies payment and financial operations for businesses. With over 85% of the top 100 US accounting firms using Build.com, the company has transformed how businesses pay and get paid, moving over $100 billion annually. The platform automates and digitizes back-office processes such as accounts payable and receivable, eliminating the need for paper and streamlining the payment and document management workflows. Build.com's goal is to enable businesses to focus on their core operations by providing an all-in-one solution for financial operations.
The Origins and Vision of Build.com
Founded in 2006 by Renee Liserre, Build.com was born out of the need to simplify payment processes for businesses. Liserre's prior experience in the finance, software, and payment industries, including founding PayCycle, an online payroll solution, contributed to his vision for Build.com. The company offers a product experience that digitizes and automates back-office tasks, allowing businesses to handle invoices, collaborate with employees, and manage payments effortlessly. By leveraging technology and eliminating manual processes, Build.com aims to provide a solution that helps businesses efficiently manage their financial operations.
Building a Broad Go-to-Market Strategy
Build.com's success in serving a wide range of customers, from small businesses to accountants and top banks, can be attributed to its broad go-to-market strategy. Instead of focusing on a single vertical, Build.com offers an all-in-one financial operations solution that addresses common pain points across various business types. By partnering with banks, accounting firms, and accounting software providers, Build.com has been able to reach a broader market and tailor its offerings to meet the specific needs of different customer segments. This multi-faceted approach has contributed to the company's growth and market presence.
Adapting and Thriving in Challenging Times
COVID-19 presented significant challenges for small businesses, but it also showcased their resilience. Build.com witnessed how its customers adapted to the changing environment and embraced technology to navigate through the pandemic. For example, the dog walking service WAG shifted its focus to online training programs, and the Meridian Library District found innovative ways to stay connected with the community. The pandemic highlighted the importance of leveraging technology for business survival and growth. Build.com's advice to entrepreneurs and small businesses is to embrace technology, automate processes, and stay resilient in the face of challenges.
As a fourth-generation founder, René Lacerte's passion for helping small businesses is deep-seated. That passion has empowered him to grow Bill.com, the leading provider of cloud-based software that transforms the way businesses pay and get paid, into a massive success. Bill.com went public in 2019 and now has a market cap over $20B. Beyond the metrics of success, René's work is driven by his values and in the value he hopes to bring to the SMB community. René shares how patience has been a vital tool in his 15-year journey at Bill.com, why he took a horizontal approach to building his business, and why all small businesses need to leverage technology to stay ahead of the curve.
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