SOURCE: FreshBooks

April 17, 2007 13:37 ET

FreshBooks Benchmarks Small Business Performance With New Report Cards Service

Benchmarks Service Provides Customers With Valuable Comparative Business Metrics That Help Them Get Paid Faster and Earn More Money

TORONTO -- (MARKET WIRE) -- April 17, 2007 --FreshBooks, an online invoicing and time-tracking service which recently surpassed 150,000 happy business users, has released Report Cards, a groundbreaking new business benchmarking service that allows its customers to compare their business metrics against similar companies in the same industry. The Report Card service is set to disrupt established research and reporting industry players like Forrester, Hoovers and Dunn & Bradstreet. It is available free to all FreshBooks customers.

FreshBooks Report Cards captures a business' performance and shows how it measures up to other companies, specific to their industry. It is anonymously aggregated from the pool of FreshBooks customers that agree to participate, interpreting data from a large group of users and packaging it in an easy-to-read report card format for individual businesses.

Reports include:

--  Average monthly revenue
--  Average size of invoices
--  Average time to get paid
--  Percentage of customers who pay online versus mail
Report Cards are incredibly useful for small business owners, finally giving them access to market data that otherwise would only be available in expensive research reports. It can ultimately help business owners get paid faster and collect more money.

"The FreshBooks Report Card service is exciting because this useful information was previously unavailable to the average small business owner. We are serving an underserved segment of small businesses and disrupting established players in the research and reporting arenas," said Mike McDerment FreshBooks CEO. "Since FreshBooks is an online service, we make the whole experience easy and painless, and now we also have the ability to offer valuable information that is simply not possible through software. Report Cards are a great resource for small businesses to understand how they stack up with others in their industry."

FreshBooks is a painless online invoicing and time-tracking service designed to make its users look as professional as 'Fortune 500' companies. It changes the way businesses manage their books, saving them time, improving their cash flow, enhancing client communications and streamlining their business processes. Packages range from $14 to $149 per month.


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About FreshBooks, the Company

Based in Toronto, Ontario, Canada, FreshBooks, formerly 2ndSite, was introduced on May 1st, 2004 and has released 16 new versions since then.

Aside from providing painless online time tracking and billing services, FreshBooks also helps small businesses by driving community-based initiatives such as weekly tele-seminars, daily web log stories with helpful information, and an active, user-driven forum. The company can be reached at 866-303-6061 or info[at]

Contact Information

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    408-428-0895 Ext. 112
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