Overview
What is Finmark from BILL?
Finmark, now from BILL (acquired November 2022), provides financial planning and modeling software for startups. Finmark’s platform aims to take complex financial concepts and calculations and distill them down into a simple to use interface so companies can update, inspect,…
Pricing
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Starting price (does not include set up fee)
- $50 per month
Product Details
- About
- Competitors
- Tech Details
- FAQs
What is Finmark from BILL?
- Model Customization - Finmark is designed to support more customization than templates
- Scenarios - Users can compare KPIs across multiple scenarios in a single dashboard. Users can duplicate scenarios and change assumptions without wasting time copying and pasting data.
- Collaborate on Financials - Users can share financials as desired with investors, employees, or leadership.
- Budgeting - Plan headcounts, forecast expenses, track a budget in a single tool
- Plan for Fundraising - A tool to help find out a business needs to raise, and tools that encourage investment, by showing investors the metrics they value most
- Visualize Key Metrics - Track and forecast revenue, CAC, runway, and burn rate from a single dashboard.
Finmark from BILL Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
Frequently Asked Questions
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Community Insights
- Business Problems Solved
- Pros
- Cons
Users of Finmark have found the software to be highly beneficial for various use cases and solving critical business problems. One key area where Finmark proves invaluable is in budgeting and forecasting for startups. Users appreciate the ease with which they can create complex financial models and tie actuals to forecasts, allowing them to accurately project their financial future. With integrations with GLs and HRIS systems, Finmark streamlines the process and ensures data accuracy.
Another significant use case is in fundraising rounds. Users have discovered that Finmark helps them create comprehensive financial models to support their fundraising strategies. The ability to run different scenarios and visualize projections gives users a clear understanding of the potential outcomes, enabling more informed decision-making.
Additionally, Finmark has been praised for its ability to analyze and assess financial performance quickly. Users find that the software saves them time by managing internal financial projections, cash flow, and burn. This allows them to focus on core activities like product development and user engagement while still having access to reliable financial analysis.
Small startup founders without a dedicated CFO also see great value in Finmark. The software simplifies financial modeling, making it accessible even without specialized expertise. By visualizing projections in a clear format, users can easily grasp the possibilities and limitations, helping them make more informed decisions about their business strategies.
Overall, Finmark proves to be an indispensable tool for startups, aiding in budgeting, forecasting, fundraising, and financial analysis. Its intuitive interface and powerful features empower users to overcome complex financial challenges and make strategic decisions with confidence.
Intuitive User Interface: Users have consistently praised Finmark's well-thought-out and intuitive user interface. They appreciate being able to easily visualize each department and plan accordingly, which saves them time and provides a high level of control.
Automatic Scaling Feature: The feature that allows for automatic scaling once specific milestones are reached is highly valued by users. This functionality enhances the efficiency of budgeting, modeling, and KPI dashboard creation for clients.
Convenient Financial Data Access: Users find it advantageous that they can use Finmark as a daily management tool without having to access the accounting system. They appreciate having all the financial data readily available at their fingertips in one place, making it convenient for their needs.
Lengthy and Inefficient Initial Setup: Some users have found the initial setup process of Finmark to be time-consuming and inefficient. They have expressed frustration with the amount of time it takes to get the software up and running smoothly.
Confusing Interface and Learning Curve: Several users mentioned that they initially found Finmark's interface confusing, resulting in a learning curve. However, they appreciated the assistance provided by Annika in navigating through the software.
Data Import Inaccuracies: A number of users have reported issues with data imported from Finmark not accurately matching reality in their other systems due to identified bugs. This has caused inconvenience and required extra effort to reconcile discrepancies between different platforms.
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