Private Wealth Systems vs BILL

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Private Wealth Systems

Private Wealth Systems

Category
Consolidated Reporting

USA-based Private Wealth Systems provides the digital infrastructure that powers modern family offices across the world. The platform is able to support even the most complex nested ownership structure through its capturing, correcting, calculating and presenting of actionable information across asset classes and currencies.

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BILL

Category
Accounting

Bill.com (NYSE: BILL) is a leading provider of cloud-based software that simplifies, digitizes and automates complex back-office financial operations for small and midsize businesses (SMB). Our tailored offering for wealth management firms supporting high-net-worth clients, enables firms to shift from a cumbersome andtime-intensive approach to an automated and secure bill payment process.

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Company
Employees

  • 11-50

Revenue

Founded

  • 2014

Ownership

  • Owned by management
  • Clients are also owners

Incorporated

  • United States of America

Locations

  • Charlotte
  • New York
  • Salt Lake City

Top markets

  • Switzerland
  • United States of America
  • United Kingdom
  • Saudi Arabia
  • Australia

Total AUM

  • $200 billion

Avg. AUM per client

  • $223 million


  • 500+


  • $157 million (2020)


  • 2006


  • Public company (NYSE: BILL)


  • United States of America


  • San Jose, California & Houston, Texas (USA)


  • United States of America


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Client
Focus

  • Single-family offices

Serves also

  • Multi-family offices
  • Banks
  • Individual wealth owners
  • Fund managers

Number

  • 650+ UHNWIs and family offices


  • Multi-family offices
  • Single-family offices
  • Independent financial advisors
  • Registered investment advisors


  • Individual wealth owners
  • Banks


  • More than 110k small and mid-sized segments
  • More than 2.5 million network members

Product
Main tasks

  • Accounting
  • Consolidated reporting
  • Portfolio management
  • Data aggregation
  • Risk management
  • Impact/ESG reporting

Top features

  • Data aggregation – our direct bank feeds captures 3x more data than other providers.
  • Data validation – we perform daily reconciliation and correct bank data errors.
  • Performance calculation – in side by side comparisons with other systems we have proven double-digit accuracy in performance and analytics.
  • Custom reporting – our award winning data model empowers each user to personalize their data any way they want.
  • Digital portal – wealth owners can customize their own mobile dashboards to have total power over their wealth.

Assets supported

  • Private equity
  • Bankable assets
  • Real estate
  • Rare collectibles (e.g. luxury cars, boats, high-value jewellery)

Compliance

  • GDPR

Whitelabel

  • Yes


  • Accounting
  • Data aggregation
  • Consolidated reporting


  • Efficient AP/AR end-to-end workflows
  • Multiple payment options (e.g., check, ACH, wires, virtual card)
  • Advanced, customizable approval workflows
  • Automatic sync with key accounting systems
  • Intelligent virtual assistant eliminates data entry
  • Unlimited online document storage
  • Easy audit-ready trails
  • Online and mobile access
  • Robust reporting options
  • In-product live chat
  • Simple onboarding and fast setup




  • Yes

Technology
Type Of Software

  • SaaS
  • Serviced software

Security

  • Multi factor authentication
  • Application scanning
  • Network scanning
  • Encryption at-rest and in-transit
  • Data leakage prevention (DLP)
  • User level access controls
  • Annual audits by global banks

Ecosystem

  • Microsoft

Integrations

  • API that can connect with any third party system including CRM, bill pay

Mobile App

  • Yes


  • SaaS


  • 2-factor authentication & single-sign-on (SSO)
  • SOC 1 and SOC 2 attested
  • Encrypted using Transport Layer Security (TLS)
  • Protection against check fraud using automated Positive Pay service
  • Partners with a PCI certified vendor for credit card payments
  • More information here



  • General ledger (automated sync): QuickBooks, Xero, Sage Intacct, NetSuite, Microsoft GP/BC
  • CRM: Salesforce, Proposify
  • Spend/expense management: Divvy, Expensify, Tallie, ReceiptBank
  • Document storage: Hubdoc
  • Mailing: Earth Class Mail
  • Project management: WorkflowMax
  • Tax 1099


  • iOS
  • Android

Simple solutions for complex times.