Freshbooks launches benchmarking features

by Mathew on October 14, 2008

Just a quick post to say congratulations to my friend and fellow mesh conference organizer Mike McDerment, the CEO of online-invoicing service FreshBooks. The company just launched a quarterly industry-benchmarking feature, which involves releasing aggregated data from the various industries that use its invoicing services, so that other companies in those industries can compare their vital statistics — how long it takes to get invoices paid, what proportion of revenue is recurring versus new, etc. As Mike explains in the video I’ve included with this post, this kind of info can be a very powerful tool for companies to use, particularly small and medium-sized businesses that are trying to gauge how they compare to their peers in the industry. Congrats to Mike and the rest of the team.

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