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FreshBooks CEO Mike McDerment was interviewed this morning on Fox Businesses’ show Money for Breakfast.
Mike’s a great guy and FreshBooks is a really interesting business their mission is to enable SMBs to do better – be more aware of their money flows, become more profitable, increase revenue and drive down costs.
The really interesting metric that Mike gave in the interview was a year-on-year comparison. Apparently those businesses who were FreshBooks customers in Q2 2007, actually increased revenue as a group in Q2 2008, bucking the trend towards reducing revenues that we’re currently seeing.
Now it would be easy to argue cause and effect here – one could say that the sort of businesses who see the value in keeping a tight watch over their finances are also the sort of business who are likely to be bucking the trend towards falling revenues. However it’s also fairly apparent that quick billing, close attention to debtors and a tight rein over expenses (all of which FreshBooks help with) – facilitate SMBs moving their finances in the right direction.
Check out the interview below.
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