Scalefactor also caters to the needs of businesses by providing advanced accounting knowledge and integrating with various platforms. In summary, Scalefactor serves as an outsourced bookkeeping, tax, and financial department for companies at a fraction of the cost of hiring in-house expertise. ScaleFactor makes online financial software that enables small and medium-sized businesses to automate back-office tasks including bookkeeping and payroll. Business customers pay a flat fee to access the digital tools and services with packages starting at around $6,000 and reaching as high as about $30,000 a year. While ScaleFactor has its roots in accounting and financial management software, its expanding its services, which is where most of the proceeds from the fundraising will go.

What types of businesses does ScaleFactor serve?

Evaluate their features, pricing, and user feedback to find the perfect fit for your needs. Here are the powerful features that make ScaleFactor stand out from the competition. Packed with innovative tools and advanced functionalities, this software offers a range of benefits. Aiming to level the playing field, ScaleFactor and it’s backers say bookkeeping it’s giving small and medium-sized businesses digital tools and insight typically reserved for large enterprises. The ScaleFactor Visa Card announcement comes on the heels of the company’s recent $60 million in series C funding, taking their funding amount to $100 million raised over the past 12 months. Automate repetitive tasks and keep your general ledgers, cash flows and tax calculations up-to-date, so there are no gaps and the latest reports are always available to view.

More from Business Wire

Trained at KPMG, Rathmann was frustrated by the small business constraints he faced when it came to managing accounting scalefactor and financing. Obsessing about how to meld the two became his pastime, leading him to form the company in 2014. Six years later ScaleFactor has more than 1,000 customers and big names in tech investing as backers.

• ScaleFactor makes online financial software that enables small and medium-sized businesses to automate back-office tasks including bookkeeping and payroll.
• Users have found Scalefactor easy to use and appreciate how it simplifies tasks such as managing invoices, filing taxes, and importing bank statements.
• Scalefactor also caters to the needs of businesses by providing advanced accounting knowledge and integrating with various platforms.
• To capitalize on the deepening relationship between ScaleFactor and its customers, he said the company is developing a lending product that will be available in the fourth quarter.
• The staff goes the extra mile to find answers to customers’ questions and understand their business needs.
• The ScaleFactor Visa Card announcement comes on the heels of the company’s recent $60 million in series C funding, taking their funding amount to $100 million raised over the past 12 months.

Key Features of ScaleFactor

The staff goes the extra mile to find answers to customers’ questions and understand their business needs. Furthermore, Scalefactor provides greater visibility and facilitates good communication among teams, making it easier to https://www.bookstime.com/articles/music-industry-accounting collaborate on finances. ScaleFactor founder and chief executive Kurt Rathmann started the company from his living room after working as the CFO for a small business.

• ScaleFactor serves a wide range of businesses, including but not limited to Startups & SMEs.
• Tell us what you’re looking for and we’ll offer you personalized software recommendations.
• ScaleFactor is the essential business OS, offering the most comprehensive view of your business finances.
• “The proliferation of data is making platforms like ScaleFactor increasingly useful,” for small and medium-sized businesses that are looking for actionable insight in real-time, said Laffont.
• Fully-integrated, customizable ScaleFactor Visa Card gives small business owners unmatched speed and control overspending.

What is ScaleFactor?

Despite some glitches in the software, users appreciate the proactive troubleshooting efforts of the staff. This platform is particularly recommended for early-stage startups aiming to grow and scale. However, some users have felt oversold on the product, experiencing poor execution that resulted in wasted hours correcting errors. Users have found Scalefactor easy to use and appreciate how it simplifies tasks such as managing invoices, filing taxes, and importing bank statements. By using this software, small businesses can save on the expense of hiring a full-time accountant while maintaining accurate and up-to-date financial records. Onboarding has been efficient and painless for many users, with new features regularly added to enhance functionality.

• ScaleFactor is a comprehensive accounting solution that aims to take the busywork out of managing accurate and consistent books.
• Furthermore, Scalefactor provides greater visibility and facilitates good communication among teams, making it easier to collaborate on finances.
• Six years later ScaleFactor has more than 1,000 customers and big names in tech investing as backers.
• Rathmann said the business is evolving into a relationship one in which customers are coming to ScaleFactor for advice on other aspects of the business such as insurance.

The ability to track and manage the flow of goods or materials into and out of an inventory.