FreshBooks Strengths, Domain Expertise, and Key Differentiators
FreshBooks is dedicated to empowering small business owners worldwide, assisting them in their journey to grow and succeed. With an intuitive accounting platform utilized by businesses across more than 130 countries, FreshBooks simplifies a range of essential financial tasks including invoicing, accounting, payments, and expense management. By providing easy-to-use tools, FreshBooks enables owners to efficiently track and manage their day-to-day finances, facilitating smoother operations and enhanced financial control. One of FreshBooks' standout features is its innovative Collaborative Accounting model, which revolutionizes the way small business owners interact with their accountants. Through this game-changing approach, owners can seamlessly collaborate with their accountants directly on the FreshBooks platform. This collaboration streamlines workflows, fosters communication, and provides real-time financial insights. By leveraging Collaborative Accounting, small business owners gain access to valuable guidance from their accountants, enabling them to make informed decisions and drive strategic growth for their businesses.
FreshBooks Recent Developments
On January 9, 2024, FreshBooks introduced FreshBooks Payroll, an integrated payroll solution designed specifically for its U.S.-based clientele. This innovative addition to their suite of services leverages Gusto's advanced payroll technology, renowned for its efficiency and reliability. With the launch of FreshBooks Payroll, the company aims to streamline and simplify the management of small business operations. By consolidating essential financial functions such as accounting, billing, payments, and now payroll, FreshBooks empowers its customers to oversee their entire business operations seamlessly from a single, comprehensive platform.
FreshBooks Mergers and Acquisitions (M&A) Activities
In October 2021, FreshBooks acquires Germany's FastBill as it pursues global expansion. FastBill currently supports paying customers in 16 different countries across Europe. Together, FreshBooks and FastBill will unlock new platform capabilities and expand into regions where the small business market is significant and growing.
In September 2020, FreshBooks acquired Facturama. Based in San Luis Potosi, Mexico, Facturama helps 19,000+ self-employed professionals, small businesses and startups maintain better control of their finances through electronic invoice management, reporting and other organizational services. The company is one of few software providers in the region that is currently compliant with Mexico’s advanced electronic invoicing and accounting regulations. Supported by FreshBooks, Facturama's service will allow for greater scaling capabilities in Mexico, where the small business market is significant and growing.
FreshBooks Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying FreshBooks 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 FreshBooks 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 FreshBooks customers.
FreshBooks Overview
1655 Dupont St. Suite 250
Toronto, ON, M6P 3T1, Canada
1 416-780-2700
https://www.freshbooks.com/
Ownership: - x
Number of Employees: 500
Functional Markets: CRM, ERP Financial, PPM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, 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,
FreshBooks Key Enterprise and Cloud Applications
FreshBooks
FreshBooks 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.
FreshBooks Revenue Breakdown By Type, $M:
FreshBooks Enterprise Applications Revenues By Functional Markets, $M:
FreshBooks Enterprise Applications Revenues By Verticals, $M:
FreshBooks 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 |
FreshBooks Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
FreshBooks Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified FreshBooks Customers
No. of FreshBooks Customers: 10000000
No. of FreshBooks Enterprise Applications Customers: 10000000
No. of FreshBooks Cloud Customers: 10000000
No. of FreshBooks Cloud Subscribers: 30 Milion
FreshBooks serves over 30 million users in over 160 countries from which 3 million are paying customers. Among FreshBooks customers are CreativeMornings, Sundling and Associates, LLC, IncPlant, Venture Gained Legal, Milieu Interior Design, Visceral, Laughing Squid, Chango and other.
FreshBooks Market Opportunities, M&A and Geo Expansions
FreshBooks launched its revolutionary Collaborative Accounting model, set to debut on October 3, 2023. This groundbreaking approach is meticulously crafted to benefit both accountants and small business owners, fostering a dynamic partnership that enhances financial management and drives long-term success. At the core of Collaborative Accountingâ„¢ is the aim to optimize the roles of both accountants and business owners. By leveraging this innovative model, accountants can devote more time and attention to providing strategic financial guidance, leveraging their expertise to offer valuable insights and recommendations. Meanwhile, small business owners gain access to real-time financial data and analysis, empowering them to make informed decisions that propel their businesses forward.
In August 2021, FreshBooks, an accounting software provider, became a unicorn company after securing $130 million in funding from investors such as JP Morgan and Barclays. This brought FreshBooks' total funding to over $200 million. The company, known for its user-friendly platform, aims to accelerate its growth and expand its services following this investment.
FreshBooks Risks and Challenges
Adding new software modules from procurement to payments and from recruiting to workforce management for retailers will be the next test for FreshBooks as it has been successful in luring a large number of small business owners as its users. Turning them into paying customers is another matter.
FreshBooks Ecosystem, Partners, Resellers and SI
FreshBooks has an expanding ecosystem of integrations to cover a broader range of complementary products and is proud to have the support of key companies such as Google Apps, GoDaddy, Apple, Gusto, Stripe, OneSaaS (which also includes Shopify via OneSaas), and Zapier (which also includes MailChimp via Zapier).
FreshBooks Cloud Infrastructure Insights
Subscribe to read more about:
- FreshBooks Public Cloud and Infrastructure (IaaS)
- FreshBooks Platform (PaaS)
- FreshBooks Application Delivery
- FreshBooks 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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