Scalefactor also caters to scalefactor 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.
- 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.
- This addresses a company’s ability to configure the software to fit its specific use case and workflow.
- 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.
- ScaleFactor founder and chief executive Kurt Rathmann started the company from his living room after working as the CFO for a small business.
- 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.
- Six years later ScaleFactor has more than 1,000 customers and big names in tech investing as backers.
ScaleFactor Comparisons
Austin-based ScaleFactor provides their small business accounting automation platform designed to combine software and expert assistance to SMBs and remove concern for financial, tax and accounting challenges. Scalefactor is a valuable tool for small businesses looking to streamline their accounting processes. Users have found that the software allows CFOs to focus on financial goals rather than getting caught up in daily data entries.
- This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.
- Scalefactor is a valuable tool for small businesses looking to streamline their accounting processes.
- Obsessing about how to meld the two became his pastime, leading him to form the company in 2014.
- Users have found that the software allows CFOs to focus on financial goals rather than getting caught up in daily data entries.
- Explore alternative software options that can fulfill similar requirements as ScaleFactor.
- Here are the powerful features that make ScaleFactor stand out from the competition.
- This platform is particularly recommended for early-stage startups aiming to grow and scale.
Product Details
- We alert you to what needs attention and make proactive suggestions with your bottom line in mind.
- The pricing information for ScaleFactor is sourced either directly from the software provider or publicly available materials.
- 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.
- Higher-priced plans include greater automation, payment management, inventory and time tracking, and analytics features.
- Austin-based ScaleFactor provides their small business accounting automation platform designed to combine software and expert assistance to SMBs and remove concern for financial, tax and accounting challenges.
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. To capitalize on the deepening relationship between ScaleFactor and its customers, he said the company is developing a lending product that Accounting Periods and Methods will be available in the fourth quarter. Higher-priced plans include greater automation, payment management, inventory and time tracking, and analytics features.
Expense Management
Trained at KPMG, Rathmann was frustrated by the https://www.bookstime.com/blog/how-to-do-bookkeeping-for-cleaning-businesses small business constraints he faced when it came to managing accounting 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.
- 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.
- 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 is the smart finance software that is changing the way modern businesses operate.
- Despite some glitches in the software, users appreciate the proactive troubleshooting efforts of the staff.
- However, some users have felt oversold on the product, experiencing poor execution that resulted in wasted hours correcting errors.
- ScaleFactor also takes care of reporting and analytics, with all statistics available over a dashboard for round-the-clock access.
- The ability to track and manage the flow of goods or materials into and out of an inventory.
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.
Key Features of ScaleFactor
The ability to track and manage the flow of goods or materials into and out of an inventory.