FreshBooks is looking for a fresh start.
In an open letter sent to customers this week, FreshBooks co-founder Mike McDerment let them know that this summer they would have access to a new FreshBooks, redesigning the product’s look and function.
The change was prompted by an examination of the FreshBooks product following the company’s recent $30 million round, which came almost ten years after its creation. âOnce we secured that last round of investment, we started getting more ambitious about what we could do,” McDerment said in an interview with BetaKit. “Itâs important to consider that everything is set up to succeed and we thought it was time to develop our platform for the next decade.â
âWhen we built the original version of FreshBooks, Saas didnât exist as a concept.â
– Mike McDerment
McDerment argued that while the product itself has worked well over the many years of FreshBooksâ existence, it hadnât actually evolved enough technology-wise. The company had to ask itself two main things: should they use its current technology base, or build something new? And once they decided â how would they even get there?
âWhen we built the original version of FreshBooks, SaaS didnât exist as a concept,â McDerment said. âWe go way back. So frameworks like Ruby on Rails, or some of the more modern web developer techniques, didnât even exist when we started. And we havenât been benefitting from those.â
McDerment declined to say what new features would specifically be part of the new platform, only that it is designed to make what they do simpler and allow users to collaborate more seamlessly. âInvoices, tracking expenses, collecting payments â these are problems that we have been solving. Weâre designing how we can tackle those things better, and weâre setting ourselves up to expand and solve even more problems in the future,â McDerment said.
In his open letter, McDerment stated that rebuilding FreshBooks from the ground up was “a difficult period,” involving several failed prototypes. The difficulty inherent to disrupting your own business may be why the new version of FreshBooks will provide users the option to use either the old or new platform. âMy experience has been that people donât like to be surprised if thereâs a piece of software that they like using every day. Weâre just laying the groundwork for people so that theyâre ready,â McDerment said.
It can also be taken as a strong demonstration that FreshBooks understands change can be scary for customers as well as companies.
âWe take responsibility to help people with their businesses and their finances really seriously. We are literally the single thing people use to run their businesses in many cases and we recognize that they may not want to go to the next thing. Weâd rather have them stay and be happy as a customer than be upset. Itâs our belief that everybody will see enormous value in the new platform and chooses to use it, but we donât want to be presumptuous.â