5 Key Technology Companies That Are Helping Small Businesses Manage Cash Flow

They say it takes a village to raise a child, but what most don’t know is that you could say something quite similar about building a thriving business. Luckily, in the 21st century, we have access to an array of tools that allow us to keep our cash position in check and as high as possible. Today, we’re going to highlight some of the biggest companies that are behind these tools.

Here are a few of the key technology companies that have become indispensable sources for managing business cash flow.

#1 QuickBooks

With over a dozen different products to offer, QuickBooks is the globally renowned company that’s been helping small businesses thrive since being founded in 1983. Since becoming a leading accounting software, nearly 5 million businesses have signed on to use its advantageous features as an essential asset for managing their own cash flow.

As a technology company, they’ve become the staple foundation for accounting softwares and small business accounting in general, spawning dozens of blogs and articles dedicated to making the most out of their products, from how to use their add-ons to which program is right for each business. Most small businesses can refer to QuickBooks, if not for the tools they offer, then for the educational content they put out surrounding accounting, cash flow management and cash position improvement.

#2 Wave

Since 2010, Wave has tracked over $180 billion in revenue as a company offering a free accounting software with in-depth features for invoicing and billing across mobile and desktop platforms alike. Their services have started an online community of small business owners sharing tips and tricks for getting around the financial sector of running a business with incredible results, highlighting the use of its accounting software.

Products like the ones Wave offers are the reason many businesses are armed with the most thorough equipment available, even when they’re just starting out with a tight budget. With the guidance they provide, that budget can turn into a flowing cash position and an excellent handle on financial organization in no time. That’s why so many businesses have tech companies like Wave to thank for the software that led them to a successful cash flow management.

#3 Xero

Xero is the technology company behind a cloud-based accounting software platform that’s geared towards both small and medium-sized businesses. Along with QuickBooks, Xero is one of the most popular choices amongst business owners and their respective accountants for managing cash flow, processing invoices, paying employees and sending out orders.

Founded in New Zealand, this company has become an invaluable asset for smaller businesses worldwide and was even named the world’s most innovative growth company in 2014 and 2015 by none other than Forbes, with nearly 1.5 million subscribers backing them today. Its influence has made it one of the go-to resources for diving into the financial side of starting of a small business.

#4 Freshbooks

Technology companies, no matter how impactful they grow up to be, can often have a small and modest start. The company FreshBooks was developed in 2002 by 2ndsite, Inc. Since then, it’s no doubt that it’s become one of the most popular cloud-based accounting software packages for small businesses. In 2017 alone, the company generated over 50 million dollars in revenue, and over 1.6 million accounts have signed on to use the service since the summer of 2010.

What’s important about Freshbooks is not only the software they’ve developed, but also the impact they’ve made in putting out content surrounding small business accounting. Aside from their software tools, the company has an active social media presence, being active on Twitter, Youtube and complete with an onsite blog consistently being updated with accounting articles geared towards small businesses, from tax advice to managing invoicing skills.

#5 Invoice2Go

The tech company behind the Invoice2Go app might not seem to have made as big of an impact as the rest of the softwares on this list, but it’s undeniable that the tools provided by their app have been beneficial to business owners worldwide. It was reported that in nearly 60 countries, the app ranked number one in the category of highest grossing business applications available for iOS. Among its success, in 2015, the app was integrated into part of the features of the newly launched Apple Watch.

What has made Invoice2Go so influential in its help towards small businesses is the sheer simplicity of its tools. Available as both a mobile and web app, its design features the most essential and basic accounting features, such as invoicing and tracking expenses. The founder of the app, Chris Strode, built it as an immediate solution to the common challenges business owners face. For small businesses, that’s all you can ask for: simple and to the point, with no complications.

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