No accounting system? No problem.
Chris Myers, BodeTree CEO, estimates that 80% of the 30 million U.S. small businesses don’t use traditional accounting methods. For some, the clearest picture of their finances is the neglected shoebox full of receipts. Cash Tracker is out to change that.
While the Denver-based startup still aggregates data from Quickbooks and Xero, Cash Tracker syncs the business’s bank account, which offers a full view of their finances, no matter which accounting method used.
Syncing a bank account will show the business its cash balance, net income, months of cash. It will also detail historical spending and cash flow trends.
Cash Tracker’s benefits extend beyond business owners. When BodeTree is used as a third-party application through a partnering bank, the business’s data will also be made visible to the bank. The data not only enhances underwriting efforts, but also opens cross-sell and up-sell opportunities.
BodeTree was recently featured in Entrepreneur Magazine, which highlighted company metrics:
- Launched in 2011
- 14 employees
- $5 million in funding
- 50,000 active small business users on its platform