More and more freelancers and small businesses are taking their invoicing and billing online, according to data released today by FreshBooks, a popular Web-based invoicing service.
According to the data, $1 billion changed hands across the FreshBooks platform between January and early May of this year. In 2009, by comparison, this milestone was not reached until August, which suggests that online invoicing is growing at an accelerated rate
The average invoice size during the first five months of 2010 was $1,677. Of the 23 countries that FreshBooks looked at, the highest average invoice amount were Mexico and Sweden, at $4,669 and $4,423, respectively. Interestingly, the United States, the world’s biggest economy, fell to 16th place, with an average invoice amount of $919. Of the countries included in the data set, the least activity was seen in Malaysia, which had an average invoice size of $406.
On average, invoices on FreshBooks were paid in 22.8 days.
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