FreshBooks Releases First Quarterly Industry Benchmark Report

FreshBooks, a Toronto-based invoice startup that formed back in 2004, has released a set of aggregated business data to the public. The data allows businesses to see how they stack up against other companies in their fields on a number of criteria, including the amount of revenue generated from new versus recurring clients and overall invoice totals. Professions available for reference include Engineering, IT Services, Legal Offices, and some more obscure professions like “Musician”. FreshBooks intends to release these reports on a quarterly basis from now on (you can access the current report here.

FreshBooks generates the reports based on opt-in information the service began asking for in 2006. As an invoice service the company has been able to accrue data on over 500,000 members, which gives the data credibility. That said, the basic reports presented seem to be very general – it would be nice if you could hone in on reports from a specific state, as rates for many professions vary widely in different regions.