Bookkeeping service Pilot.com has launched three new programs — R&D Tax Credit, CFO Services and Extended Services — in a bid to expand its services, and outsource several different facets of its business to new departments.
Pilot.com launched in 2017, and aims to "bring bookkeeping into the modern era," the company said. The three new platforms will branch out in different ways, the company noted in a press release.
With R&D Tax Credit, small businesses (SMBs) and startups can save and reinvest millions into their businesses. It also encourages innovative practices, as businesses are nudged toward using the money to pay for research and development (R&D) activities. The challenge with R&D, Pilot.com believes, is that many businesses don't know how to properly use it, as it's a complex process. Pilot.com wants to handle that whole process, and make it easier.
With CFO Services, Pilot.com wants to provide resources so SMBs can access dedicated financial help, which many do not always have. The program will fill in gaps for many companies' needs, such as fundraising strategy, budgeting, unit economics and more.
With Extended Services, Pilot.com will attempt to address other services with which companies may need assistance. These services include creating monthly reports, generating invoices, following up with customers for collections and paying bills, among other things — the company boasts that it can tackle issues, no matter what they may be.
The company raised $40 million in its Series B funding round last year, which it used to accelerate the development of various projects. Pilot.com currently handles bookkeeping for around $840 million in run-rate revenue.
CEO Waseem Dahler said he founded the company after seeing the massive gap in bookkeeping technology. He wants Pilot.com to be the solution in terms of streamlining that technology, and improving bookkeeping. He added that customers see the company "as their financing team."