BILL (NYSE: BILL), a finance platform, has launched BILL AI, a new suite of intelligent AI agents and features designed for small and midsize businesses, referred to as the Fortune 5 Million. The initial BILL AI agents and features are engineered to autonomously collect and validate W-9 forms, reconcile receipts, accelerate user onboarding, and perform routine financial tasks to reduce operational friction.
While larger enterprises often benefit from advanced automation, many small and midsize businesses still manage manual workflows. For instance, over 90% of businesses report that collecting W-9s is a challenging aspect of tax preparation, and many dedicate significant time to expense management. These inefficiencies can divert leaders’ attention from business growth toward administrative tasks.
René Lacerte, CEO and Founder of BILL, stated, “The Fortune 5 Million deserve the same power and precision as the Fortune 500.” He added that BILL AI aims to eliminate workflows that burden businesses. Lacerte highlighted BILL’s unique position to deliver AI at scale, leveraging data from over a trillion dollars in payment transactions across its network of businesses and accounting firms. He emphasized that the future of fintech involves touchless B2B transactions, with BILL aiming to lead this for SMBs.
BILL AI’s development is backed by extensive data, including processing over 1.3 billion documents and accelerating billions in payments. Since early 2025, BILL’s AI solutions have increased fully automated bills by more than 80% and prevented 8 million fraud attempts in fiscal year 2025. The platform serves nearly half a million businesses and 9,000 accounting firms within a network of 8 million members, processing over $1 trillion in transactions annually.
The new AI agents and features are designed to automate critical financial workflows:
* **BILL W-9 Agent:** This agent aims to reduce over 80% of manual steps in W-9 collection by autonomously requesting and pre-validating forms from vendors. It is projected to save BILL customers an estimated 650,000 hours by handling up to 3 million W-9s. The agent is expected to become available to over 170,000 businesses in the coming weeks.
* **BILL Reconciliation Agent:** This agent automatically codes transactions for receipt reconciliation, providing visibility into expenses. In its early rollout, transactions processed entirely by AI saw a 533% increase with 92% accuracy. It is expected to scale to over 40,000 businesses managing more than 70 million receipts annually within six months.
Additionally, BILL is introducing agentic-powered onboarding for new Spend & Expense users, offering a tailored setup process. The new agentic-powered BILL Assistant will provide personalized, instant answers, intelligent recommendations, and task completion capabilities for customers.
SMBs and accountants have acknowledged the impact of BILL AI agents. Eric Cohen, Head of Technology at Hiline, noted that the BILL W-9 Agent has automated the process of collecting and validating W-9s, which previously required significant manual follow-ups for their 1,500 forms. He anticipates it will save his team a full quarter of work. Ellie Schad, Senior Accountant at Easy Mile Fitness, commented on the W-9 Agent’s potential to streamline engagement with their over 300 vendors, enhancing their collection process.
BILL, headquartered in San Jose, California, is an intelligent finance platform that provides strategic finance capabilities in an integrated platform including accounts payable, accounts receivable, expenses, forecasting, and procurement. It is a partner of U.
S. financial institutions, accounting firms, and software providers.
