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Quick Read
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BILL.com processes $89B in quarterly payment volume with 72.6% of revenue from transaction fees tied to AI-enhanced automation.
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Only 5% of larger SMBs have fully automated AP and AR processes. BILL targets a 95% addressable market gap.
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BILL’s newer customer cohorts spend 40% more than earlier cohorts while the company maintains 83.8% gross margins.
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Artificial intelligence is rapidly transforming financial operations, and several companies are racing to automate accounts payable, receivable, and expense management for small and mid-sized businesses. We looked at four stocks to see who benefits most from AI-powered financial automation.
The Players in AI Financial Automation
Bill.com (NYSE:BILL) provides cloud-based financial automation for SMBs, processing approximately $89 billion in quarterly payment volume. The company recently launched BILL AI Agents to enable touchless B2B transactions and serves nearly 500,000 businesses through partnerships with NetSuite, Paychex, and major accounting software providers.
Intuit (NASDAQ:INTU) dominates small business software through QuickBooks, TurboTax, and Credit Karma. With $19.43 billion in trailing twelve-month revenue, Intuit operates at massive scale and maintains a 21.2% profit margin. The company has embedded AI features across its product suite, particularly in QuickBooks Online. Of course, this is a relatively small part of their business.
Paychex (NASDAQ:PAYX) handles payroll and HR services for over 745,000 clients. The company recently partnered with BILL to integrate financial automation into its payroll platform. Paychex has struggled in 2025, down 15.97% year-to-date, suggesting it needs modernization to compete.
Oracle (NYSE:ORCL) owns NetSuite, the cloud ERP platform that integrates deeply with BILL’s financial automation tools. Oracle’s massive enterprise footprint and AI infrastructure investments position it as the backbone provider for mid-market financial software, though recent volatility (down 18.40% over one month) reflects broader enterprise software concerns.
As I mentioned with Intuit above, Oracle is a sprawling business with many segments all across tech. While they will participate in this obvious trend, let’s not overstate its importance relative to their broader bets. However, if you were to build an ETF for this, they would certainly be in it!
How Each Business Is Positioned
Revenue exposure to AI financial automation tells the story. BILL generates 72.6% of revenue from transaction fees directly tied to payment volume flowing through its AI-enhanced platform. Core revenue grew 14% year-over-year in Q1 fiscal 2026, with payment volume up 12%. The company maintains an 83.8% gross margin, showing the scalability of software-based automation.
Intuit’s QuickBooks segment represents its primary exposure to SMB financial automation, but this is just one part of a diversified portfolio including consumer tax software. Intuit operates profitably at scale with a forward price-to-earnings ratio of 29, compared to BILL’s 25. However, Intuit’s size means percentage growth from AI features will be incremental.
Paychex faces the most pressure. Its 16.56% decline over the past year suggests customers demand more than traditional payroll processing. The BILL partnership addresses this gap by adding accounts payable and expense management capabilities Paychex lacks organically. For Paychex, AI automation is defensive.
Oracle benefits indirectly through NetSuite subscriptions, but financial automation represents a small fraction of its $53 billion revenue base. The company’s AI investments focus primarily on database and cloud infrastructure rather than SMB financial workflows.
What Management Is Saying
BILL CEO Rene Lacerte emphasized the market opportunity: “Only 5% of larger SMBs have fully automated both their AP and AR processes […] When it comes to financial operations for small and mid-sized businesses, we are very well-positioned to serve this large greenfield opportunity.”
Lacerte also highlighted competitive advantages: “We have massive scale. We’ve got $320 billion a year on the platform. We’ve got a breadth and depth of payment products, 12 different payment products across the platform that nobody else has. That gives us a unique opportunity to leverage data.”
Customer testimonials back this up. Derek Braun, Director of FP&A at FairWave, said: “We were able to get twice the amount of work done without hiring an additional AP clerk, saving us at least $75,000 a year.”
BILL’s CFO John Rettig noted that newer customer cohorts are spending 40% more than earlier cohorts, showing the AI-enhanced platform is attracting higher-value businesses.
Who Actually Benefits Most
Based on revenue exposure, customer adoption, and management execution, BILL appears best positioned to benefit from AI financial automation. The company derives the majority of its revenue directly from transaction volume flowing through AI-enhanced workflows, and its 95% addressable market penetration gap represents years of growth runway. BILL’s 83.8% gross margin and improving profitability (19% non-GAAP operating margin in Q1) show the business model works at scale.
Intuit remains a strong alternative for investors seeking established profitability and diversification, though AI automation will drive smaller percentage gains given the company’s size. Paychex benefits from catching up technologically through partnerships. Oracle provides infrastructure but lacks direct exposure to the SMB automation wave.
The Bottom Line
AI-powered financial automation is reshaping how SMBs handle money movement. BILL’s focused business model, 95% market penetration opportunity, and direct transaction-based revenue make it the clearest beneficiary. Investors should watch payment volume growth and customer cohort spending trends as key indicators of whether BILL can capture this opportunity.
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