According to a 2018 report by Deloitte, there are 29 million businesses with fewer than 500 employees in the US, representing 99.7% of all US businesses and almost half of total private sector employment.
These small and medium-sized businesses are expanding at a rapid rate, accounting for a significant percentage of economic growth in the US. But how do these SMBs actually run their businesses, day-to-day, and are they being as efficient as they can be? Most rely on a patchwork of various software and platforms to assist them in running their businesses and to provide personalized customer experiences that help differentiate them from their competitors.
But managing these various platforms is turning into a full-time job for many SMBs, forcing them to hire more employees earlier than many would like. The most critical function, that of accepting and processing payments, can be a tedious and time-consuming process for many SMBs. And, getting that payment software to integrate with other business-critical apps can be an impossible challenge for some small business owners.
On December 3rd, Weave is announcing a new, full-scale payments platform that targets specifically small and midsize businesses to help reduce time spent on back-end business functions, allowing SMBs to focus on running competitive and successful businesses, and not processing more paperwork.
The Weave Payments is part of the overall Weave platform, a complete business toolbox for service-based businesses. From the first phone call to the final invoice, Weave provides personalized, relevant, and effective solutions for the entire customer journey. Weave’s unique integration of hardware and software solutions help streamline and simplify business growth, retention and communication.
Weave’s platform is currently used by over 13,000 businesses and the Utah-based tech company is experiencing significant growth and has expanded from 296 employees at the end of 2018 to over 600 today. Revenue doubled in 2018 and is up 109% in 2019, and the company plans its first international expansion by early 2020.
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Tags: Hardware, Small Business
