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#Fast50CA: Bench Accounting builds bookkeeping magic for the masses

For Bench Accounting’s CEO and co-founder Ian Crosby, creating a multi-million dollar technology company started with solving an obvious pain point: “Business owners and entrepreneurs want someone else to take care of their bookkeeping, do it in a way that’s easy and affordable, and treat them nicely. It’s that simple.”

And it seems Bench has struck a chord. The Vancouver-based business was recently ranked #7 on Deloitte’s Technology Fast 50™, thanks to its exponential growth over the past few years. “We’re thrilled to be recognized as a Fast 50 company. It’s great to be able to look back at what we’ve accomplished and celebrate,” Crosby says. “What’s rewarding is that Fast 50 is based on accomplishments, not just strong PR, and that’s really validating.”

Deloitte’s program celebrates the world-class achievements of Canadian technology companies, highlighting their commitment to innovation, leadership and rapid revenue growth.

Bench’s philosophy focuses on human-powered automation, which allows them to deliver an efficient, affordable service. “Great technology should feel like magic,” says Crosby. “Technology is so much more than software. We’ve built our business to address a need — the technology is just what’s under the hood.”

Bench describes their customers as “small to very small” businesses, often with less than $1 million in annual revenue. “We are filling a gap that no one else is serving,” explains Crosby. “It’s never been easier to start a business and we want to help small business owners succeed by giving them newfound power over their finances.”

To accommodate future growth, Bench will expand its team. A big part of their recruitment strategy is creating a culture where people want to work. Crosby says this is the single most important challenge in growing the business.

“Our key principles are grounded in reality, transparency and sharing. We want to learn how to do things better together, not based on opinions or top-down messaging,” he shares. “Everyone at Bench is empowered to take our business to the next level and succeed together, and that will be the real driver of our growth.”

Bench has a goal of expanding to help 1 million entrepreneurs master their finances. “That’s what we’re here to do,” declares Crosby. “We believe every business should have the benefit of knowing how to manage their finances and the right tools at their fingertips.” Bench plans to achieve this by developing new products and growing its customer base — and that includes lowering their prices in order to serve even more small businesses as they did this year.

Crosby adds, “We want to continue to be the most accessible, affordable bookkeeping solution for customers. That’s the real benefit of innovative technology; the ability to offer more value for less.”

About Deloitte Fast 50

First West Capital is a proud Gold Sponsor of The Technology Fast 50™ program, which celebrates innovation, rapid revenue growth, and entrepreneurial spirit. Awards are presented in categories that define and characterize the unique strengths of the Canadian technology industry. Winners include both public and private companies in a variety of industry sub-sectors, including hardware, software, telecommunications, emerging technology, and digital media.

The program features three components:

  • Technology Fast 50™ ranking
  • Companies-to-Watch Awards
  • Technology Fast 50™ Leadership Awards

Pre-register now: 2019 Technology Fast 50 program

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