Freeagent Strengths, Domain Expertise, and Key Differentiators
FreeAgent provides sophisticated online accounting services utilized by a global clientele of freelancers and small businesses. Its comprehensive suite of features allows users to seamlessly generate invoices, monitor time and expenses, analyze bank statements, and maintain real-time accounts.
Freeagent Recent Developments
In November 2023, FreeAgent strategically integrated with Amazon UK to enhance the financial management capabilities for businesses engaged in selling on the platform. This integration facilitates the seamless automatic import of transactions into FreeAgent, eliminating constraints on data volume. The software ensures precise recording of sales income and expenditures attributed to Amazon sales, thereby minimizing manual administrative tasks for businesses operating within the UK Amazon Marketplace.
In December 2020, FreeAgent launched a new feature to help customers stay on top of their business cashflow. The new functionality uses data from FreeAgent accounts - including invoices, bills, salary and upcoming tax liabilities - to automatically build a near-term cashflow forecast and proactively warn users about any financial issues that may be on the horizon.
In March 2020, FreeAgent launched Radar, a new feature designed to make customers more productive and better at business. The first area on Radar is the Admin To-Do List.
Freeagent Mergers and Acquisitions (M&A) Activities
In early 2018, the Royal Bank of Scotland Group successfully acquired FreeAgent.
Freeagent Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Freeagent applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Freeagent and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified FreeAgent customers.
Freeagent Overview
One Edinburgh Quay 133 Fountainbridge
Edinburgh, x, EH3 9QG, United Kingdom
44 13 1447-0011
https://www.freeagent.com/
Ownership: - x
Number of Employees: 250
Functional Markets: ERP Financial, HCM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, Healthcare, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Freeagent Key Enterprise and Cloud Applications
FreeAgent
Freeagent Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Freeagent Revenue Breakdown By Type, $M:
Freeagent Enterprise Applications Revenues By Functional Markets, $M:
Freeagent Enterprise Applications Revenues By Verticals, $M:
Freeagent Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Freeagent Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Freeagent Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Freeagent Customers
No. of Freeagent Customers: 150000
No. of Freeagent Enterprise Applications Customers: 150000
No. of Freeagent Cloud Customers: 150000
No. of Freeagent Cloud Subscribers: x
FreeAgent's accounting software empowers more than 150,000 small businesses to effectively manage their financial affairs. Notably, the practice dashboard feature enables accountants and bookkeepers to efficiently oversee and administer their clients with a comprehensive overview. Among FreeAgent customers are: Tony Pringle Plumbing and Heating, Paw Power, Jupiter and the Giraffe, Plymouth Software, Black Mocha, Kennedy City Bicycles, Hallway Studios, Wish UK, Seven Pixels, Hit Reach, Distinctly Digital, The Big Yum Ltd, Oxygen Webs, and many others.
Freeagent Market Opportunities, M&A and Geo Expansions
In April 2021, FreeAgent introduced a groundbreaking feature, allowing users to efficiently prepare and submit their end-of-year accounts. This innovative capability empowers FreeAgent users to directly file Corporation Tax (CT600) returns and final accounts reports from within their FreeAgent accounts, eliminating the need for manual submissions through HMRC's online portal or separate information submissions to Companies House. This pioneering functionality positions FreeAgent as the first UK cloud accounting software to seamlessly integrate a comprehensive Corporation Tax filing process within its core system.
Freeagent Risks and Challenges
FreeAgent's nontraditional approach to securing new financing introduces both heightened stakes and associated risks. On one hand, the deliberate choice to eschew reliance on venture capitalists and traditional funding avenues indicates a commitment to maintaining autonomy and avoiding external influence. On the other hand, the comparatively modest capital raised raises considerations about the potential necessity for repeated engagements with customers and external stakeholders to sustain growth. Questions also arise regarding any fiduciary obligations FreeAgent may have to deliver returns, or to whom such obligations may be owed.
Freeagent Ecosystem, Partners, Resellers and SI
FreeAgent collaborates closely with an extensive array of professional networks, small business accelerators, and co-working spaces across the United Kingdom. Noteworthy partners include Creative Entrepreneurs, Bectu, Transmit Start-Ups, The Work Crowd, TechSPARK, Institute of Translation and Interpreting, Care Sourcer, PlumbAgent, ContractorUK, BizBritain, Nextfree, Seed Formations, Rapid Formations, Made Simple Group, The Formations Company, PracticeWEB, GrowQuality Company Formations, 1st Formations, Advantage Business Partnership, Great Business, LawBite, Company Bug, IT Contracting, Limited Company Help, IPSE, FCSA, and others.
In July 2022, FreeAgent established a strategic alliance with Optionis Group, a prominent accounting and professional services firm in the UK. This collaboration aims to support freelancers, contractors, and small business clients in effectively managing their business finances. Under this partnership, clients across Optionis Group's core brands, such as SJD Accountancy, Nixon Williams, ClearSky Contractor Accounting, and First Freelance, will be offered the option to utilize FreeAgent as their cloud accounting system. This integration provides a user-friendly platform for the seamless management of day-to-day expenses, invoicing, and banking.
Freeagent Cloud Infrastructure Insights
Subscribe to read more about:
- Freeagent Public Cloud and Infrastructure (IaaS)
- Freeagent Platform (PaaS)
- Freeagent Application Delivery
- Freeagent Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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