Revolutionizing Business Payments: Inside Accru with Founder Justin Fortier

In the fast-paced world of financial technology, innovation often springs from personal frustration. Such is the case with Accru, a groundbreaking payment solution platform that’s set to revolutionize how small businesses and freelancers manage their Accounts Receivable and cash flow. We sat down with Justin Fortier, the visionary entrepreneur behind Accru, to uncover the story of this game-changing startup.

“Agency work is amazing, but chasing down payments? Not so much,” Justin Fortier candidly shares, recounting the genesis of Accru. Born out of the founder’s own struggles with late payments and invoice battles, Accru emerges as a beacon of hope for countless small businesses and freelancers grappling with similar challenges. With its focus on transparency, automation, and user-friendly design, Accru is poised to disrupt the status quo of financial management in the gig economy.

The Birth of Accru

What inspired you to create Accru? Was there a specific pain point you experienced that led to the development of this platform?

“The idea for this platform came out of pure necessity. Agency work is amazing, but chasing down payments? Not so much. Our operations team has lost count of the times that we delivered a great service for our clients, only to have payments held up for weeks or, worse, default entirely. It was a constant battle and, honestly, demoralizing to our team

“That’s when we decided to build something better. A platform that streamlines the payment process for both customers and vendors. It removes the friction, automates reminders, and gets money into the hands of the people who earned it. No more chasing payments. Just a smooth, secure way to get paid on time, every time.”

Identifying Market Needs

How did you identify the need for a transparent payment solution platform in the market? What gaps did you see in existing solutions?

“The need for transparency in payment platforms became painfully clear after one too many bad experiences. Here’s the thing: existing solutions often felt like a maze. The breakdown of charges was never clear, and there was no clear statement of costs. As a freelancer or service agency, that lack of transparency made communicating about payments a nightmare.

“That’s why I knew there had to be a better way. A platform that puts transparency first. One that shows you exactly what fees are being applied and where your money goes. A platform with a clear statement view, easy payment options, and payment tracking. We, and countless other freelancers and service providers, desperately needed that kind of solution.”

Accru’s Unique Value Proposition

What sets Accru apart from other billing and invoicing platforms available today? Can you highlight some unique features?

“Unlike static PDF statements, our platform provides a clear, interactive statement view that customers can interact with and make payment easily. Customers can see their payment history, track outstanding balances with aging information, and easily activate preferred payment options — all in one place. It’s complete transparency and control over their financial dealings with you.

“Forget generic payment reminders. Our platform offers automated triggers with customizable settings. You can tailor reminders based on schedule preferences and project milestones. It’s proactive communication that keeps your customers informed and eliminates the need for back-and-forth chasing payments. Customers can even snooze reminders if checks are on the way. 

“We don’t just send invoices; we provide a full Accounts Receiveable solution. Your customers can see the bigger financial picture of your services, allowing them to plan and allocate funds effectively. It’s a win-win — you get paid on time, and your clients appreciate the additional financial clarity.”

Target Audience and User Experience

Who are your primary customers? How does Accru cater specifically to the needs of small business owners and entrepreneurs?

“Our customers are busy small businesses and freelancers. We understand the time constraints faced by small businesses and entrepreneurs. That’s why our platform is built for efficiency and as much user comfort as possible.

“Businesses that want to Become a Client Hero: We go beyond invoices. Our platform offers a budgeting tool allowing clients to see the bigger financial picture. This transparency fosters trust and helps them plan effectively for your services. By providing this additional value, you become a trusted partner in their success.”

User-friendliness seems to be a core aspect of Accru. Can you describe some design or functionality decisions that prioritize ease of use for your customers?

“Absolutely, user-friendliness is at the core of our platform! We made several design choices to prioritize ease of use for both you and your customers:

– Clean and Uncluttered Interface: Unlike many invoicing solutions, which can be overwhelming with features, ours boasts a clean and uncluttered interface. This minimalist design allows users to focus on the essential information — sending and receiving invoices — without getting lost in a maze of options.

– Intuitive Navigation: We’ve prioritized intuitive navigation. Key functionalities are readily accessible, and the overall workflow is designed for a smooth user experience. Your customers can easily find what they need, whether it’s reviewing their payment history, activating a preferred payment method, or understanding outstanding balances.

– Clear Visual Cues: We leverage clear visual cues to make complex billing information easy to understand. For example, we use color coding or icons to highlight overdue invoices or upcoming payments. This instant visual communication reduces the need for extensive text explanations, saving time and simplifying the experience.

By focusing on these design decisions, we ensure a user-friendly platform that empowers both you and your customers to manage finances efficiently.”

Technology and Integration

Can you share more about the technology behind Accru? How does it integrate with other billing and time-tracking solutions?

 “We’ve designed a user-friendly web application that integrates seamlessly with QuickBooks using secure and efficient API connections. This means:

– Effortless Data Sync – Your QuickBooks data will automatically synchronize with blazing speeds, saving you valuable time and minimizing errors.

– Decreased Friction: We reduce the friction between customers and vendors when it comes to accounts receivable. No one likes to talk about money, so we help make that easier.

– Drastically Reduced DSO: Accru’s automated reminders and streamlined payment process significantly cut down Days Sales Outstanding. Users report getting paid up to 60% faster, transforming cash flow management for small businesses and freelancers. This rapid turnaround not only improves financial stability but also allows for better business planning and growth opportunities.

Overcoming Challenges

What were some of the biggest challenges you faced while developing Accru? How did you overcome them?

 “We learned a key lesson while building Accru: it wasn’t enough to just rely on our own experience with billing. For a successful FinTech product, especially with a small team, we needed to expand our horizons and understand the different challenges faced by various industries in billing and communication. This meant actively seeking out user stories and understanding the unique pain points across different customer segments.”

Future Plans

 What’s next for Accru? Are there any upcoming features or expansions you’re excited about?

“Where do we start!? There are so many great features coming to Accru. Let’s start with ‘Projects.’ This allows your customers to track their budgets against projects so that there are no surprise overages. It also sets vendors up for success by creating traceable Change Orders so that it’s clear when and why a budget changed. Soon, we will also be implementing ‘Pay over time’ features that will make it even easier to collect money now while your customers can pay over time. We get you paid with less headache than ever.”

Advice for Aspiring Entrepreneurs

As a successful entrepreneur, what advice would you give to others looking to start their own business, especially in the tech and SaaS sectors?

“Be humble and stay hungry. When asking someone to try your software you asking them to potentially take a major risk. Your champions are business owners and often mid-level managers looking to make a name for themselves. So be empathetic and do everything to you can to make them successful. Don’t take any opportunities for granted and stay on that grind until you reach success!”

As our conversation with Justin Fortier draws to a close, it’s clear that Accru is more than just another invoicing platform. It’s a testament to the power of problem-solving entrepreneurship and a glimpse into the future of financial management for small businesses. With ambitious plans for expansion and a steadfast commitment to user experience, Accru is well-positioned to make waves in the FinTech sector. For freelancers and small business owners tired of chasing payments, Accru might just be the solution they’ve been waiting for. As Fortier aptly puts it, “Stay humble and stay hungry” – a mantra that seems to be serving both him and Accru exceptionally well in their quest to revolutionize business payments.