FreshBooks Introduces SMB Invoicing and Web Statistics for Market Analysts, Reporters and Bloggers

TORONTO, Dec. 14, 2006 — FreshBooks, which recently surpassed 100,000 "happy" business users since its initial release in 2004, announced a new resource for reporters, bloggers and analysts covering the small-to-medium-sized business and technology markets. FreshBooks’ online invoicing and time tracking suite anonymously collects and aggregates data in real time, leveraging its Software as a Service (SaaS) model to deliver ongoing insight into trends in the Small Business Market.

In 2007, FreshBooks users will have access to valuable metrics as a way of benchmarking against businesses in over eighty different industries. Statistics will include average time for payment, average invoice size by industry, monthly revenue, in addition to the information below.

The following information is free to publish. Please source, “FreshBooks.com”

October and November 2006 Trends

For companies who accept online payment:
- In October, 14.5% of payments were accepted online
- November, 17.5%

Payment Methods:
- Visa: 16.4% in October, 17.3% in November
- Mastercard: 7.3% in October, 7.3% in November
- Amex: 4.0% in October, 4.0% in November
- Paypal: 6.0% in October, 5.3% in November
- Other (including check, cash, credit, etc.): 66.3% in October, 66.1% in November

For companies that send invoices by both email and by ground mail:
- In October, 97.0% of invoices were sent by email and 3% were sent by ground mail.
- In November, 96.0% of invoices were sent by email and 4% were sent by ground mail.

Browser Usage:
- Internet Explorer 7 - October 5.02%, November 9.68%
- IE 6 - October 37.64%, November 36.77%
- FireFox 2.0 - October 6.61%, November 24.51%
- FF 1.5 - October 44.26%, November 22.07%

Operating System Usage
-Windows - October 86.84%, November 85.87%
-Macintosh - October 10.32%, November 11.41%
-Linux - October 2.13%, November 1.92%
-Unix - October 0.11%, November 0.06%

"It is fascinating to watch the dynamic between electronic invoicing versus payments. Most invoices are sent electronically, while the vast majority of payments are posted using traditional methods," said Michael McDerment, CEO of FreshBooks.

"Clearly online payment is on the rise in the small business segment. November seems to have had a relatively higher number of online payment transactions, and we expect this number will continue to trend upwards, though not as steeply as we see here in November," said Levi Cooperman, CIO.

Links:
FreshBooks - www.freshbooks.com
FreshBooks Blog - www.freshbooks.com/blog/

About FreshBooks, the Company
Based in Toronto, Ontario, Canada, FreshBooks, formerly 2ndSite, was introduced on May 1st 2004 and has released 16 new versions since then.

Aside from providing painless online time tracking and billing services, FreshBooks also helps small businesses by driving community-based initiatives such as weekly tele-seminars, daily web log stories with helpful information, and an active, user-driven forum. The company can be reached at 866-303-6061 or info[at]freshbooks.com.
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Contact:
Alison McNeill
FutureWorks PR, www.future-works.com
408-428-0895 Ext. 112