HoneyBook Launches Expanded Suite of Financial Tools for Independent Businesses
HoneyBook launched an expanded suite of financial tools that can be integrated into its client relationship management (CRM) platform for independent businesses.
The new HoneyBook Finance includes the HoneyBook business checking account, the HoneyBook Visa business debit card, payments, and cash flow management and savings tools, the company said in a Wednesday (Oct. 16) press release.
“We’ve tailored these tools and integrated them into our robust CRM to empower users with control, clear insights, quick access to funds, and automatic savings features, all while addressing the real challenges our members face in managing their finances,” HoneyBook co-founder and CEO Oz Alon said in the release.
HoneyBook Finance provides faster access to earned funds by enabling instant client payment deposits at no extra charge, according to the release.
It also enables real-time expense tracking with the HoneyBook Visa business debit card, automatically allocates a percentage of each client payment to designated savings categories, and provides a complete financial dashboard that displays revenue, expenses and account balances, the release said.
This expanded set of financial tools joins HoneyBook’s existing offerings, with which the company has processed over $11 billion in transactions, served 25 million clients and supported over 7 million invoices, per the release.
“With HoneyBook Finance, we’re not just giving independent business owners the tools to manage their money — we’re enhancing their financial confidence by offering an intuitive, comprehensive platform to gain visibility into their business health,” Alon said in the release.
HoneyBook was founded in 2014 to provide an all-in-one platform for solo entrepreneurs that linked every step of the business process — from the proposal development to invoice to payments — all digitally, Alon told PYMNTS in an interview posted in April 2019.
“What we have seen is that today banks know how to serve consumers, they know how to serve enterprises — but they still don’t really know how to serve this solopreneur who falls in between,” Alon said.
A single platform to manage tasks from lead generation to pitching to cash flow has lots of potential to help raise the level of sophistication and professionalism of solopreneurs, Alon told PYMNTS in November 2021.
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