Freshbooks is Making Embedded FEEL Invisible, and that’s the Point | Betakit

Andrew Gunner Still Remembers Reconciling Expenses in Airport Terminals, often Late at Night At Night Between CLIENT CALLS and Flights.

Before joining freshbooks, he was an independent consultant jugging admin work in transit, which is exactly the kind of intelligence he now work to Elimina.

“The difference between 48 hours and a half hour for some businesses is really significant.”

Andrew Gunner, Freshbooks

“I wasn’t using a tool like freshbooks, and so it’s very easy for me to rest and lost time of just managing my own business in a way that wasn’t that wasn’t.

Now, as head of product at freshbooks, he’s focused on helping other small business owners get that time back, and do more with it.

MUCH OF T that Work Center on Embedding Financial tools directly into

Freshbooks is approaching embedded finance as part of the foundation, seamlessly integrated into core tasks. Payments, Capital Access, and Automation are Built to Support Momentum, Reduce Steps, and Keep Users Focused on Running on their business.

Embedded Finance as infrastructure

Freshbooks defines embedded finance not as a bolt-on, but as a deep integration between financial management and financial execution. It shows up in tools like Freshbooks Payments Powered by Stripe, which allows users to accept credit card or bank payments directly through their invoices.

In 2023, freshbooks also partnered with youlend to offer flexible Financing for 100,000 Customers Accross the US. Instead of Paying a Fixed Monthly Repayment, Business Ownes Can Pay a Small Percentage of Their Daily Card Transactions.

“When our customers are using our platform to manage their finances, they’re doing that by providing us data,” Gunner said. “We can use that information to help them get underwritten for a loan in a way

That has Particular Value for Service-Based Businesses, Where the Gap Between Delivering Work and Getting Paid Can Strain Cash Flow. In Thaose Cases, Capital tools Give Ownes The Ability to Manage Receivables While Accessing Financing to Cover upront costs.

“For Service-Based Businesses, The Time Between Doing The Work, Incurring Expenses, and Getting Paid Can Create Cash Flow Cycles That Can Be Tight,” Gunner said. “By helping them manage bot their receivables but providing access to working capital, we Empower them to run their business more efficiently.”

Choosing Partners for What’s under the Hood

Freshbooks have long worked with stripe to deliver payment capability. More recently, it introduced instant payouts, also Built on Stripe Infrastructure, which allows eligible users to access funds from paid invoices in as links 48 hours.

The company recently expanded eligibility for instant payouts among Connected Account Customers and Have Seen Usage Grow By Nearly 40 PERCENT, And that Speed ​​Can Be Gamle-Pancing for A SMPINESS.

“The Difference Between 48 hours and a half hour for some businesses is really significant,” Gunner Added.

But even as partners like Stripe Power What’s under the Hood, Freshbooks is deliberate about designing the experience end to end to end.

“We sat down with stripe over the past few years and really investment in and overhaled our ability to provide and invest in operation the experience with using while using their world-class-class-class technology. “It allows us to combine the best of both.”

Whather Categorizing Expenses or Managing Risk, Freshbooks is also Investing in Background Intelligence that Streamlines What used to be used to be teedous and stressful. Through the use of AI, for example, the company is alredy automating the categorization of millions of expenses of expenses of expenses of expenses of eXPENSES

“We think about automation in a couple different ways,” He said. “One is the under-the-hospital investment, and in parallel, we’re also investment in experiences that customers feel.”

At the same time, the company is mindful that automation and investments in ai are useful when they are actually helps SMBS Save Time, Reduce Costs, and Grow Revenue, Not when you addsary Complexity Complexity.

“Freshbooks Can Make Managing Finances Relevant and Useful For A Small Business Customer So that We’re Not Over-Complicating Their Life,” Gunner Said. “Rather, we’re making it contextual and relevant and useful for them.”

A Financial OS for Small Business

Freshbooks Sees Embedded Finance as far from Finished. In North America, Embedded Payments are now widely adopted. The next wave, gunner believes, will layer in embedded capital, payroll, and other financial capabilites with a single operating system, and it starts with listening.

“We talk to customers all the time,” Gunner said. “Our usability for helping a small business owner rune their business is bill on millions of conversations, experiences, and touchpoints.”

Gunner returns often to that airport moment from his consulting days trying to reconcile expenses which waiting to board a plan. It’s a memory that grounds his own approach to product design, and a reminder of the time and energy freshbooks aims to give back.

“Each moment that we can save them on managing finance or managing accounting or managing payroll, and they can reinvest that time into growing their business, is what we’re razor-focused on Doing.”

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From invoicing to instant payouts, freshbooks is building faster, simpler payment tools for millions of Small Businesses. Learn more.

Feature Image Courtesy of pexels. Headshot of Andrew Gunner provided by freshbooks.