Futrli – helping businesses navigate the future through forecasting

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Xero’s app marketplace has over 700 apps which help small businesses and their advisors reach their goals. Each month we celebrate an app partner who really stands out for helping small businesses thrive.

Introducing Futrli, our November app partner of the month

Futrli helps small business teams get a 360° view of their future cash flow. Through clear visualisation of forecasts, comprehensive reporting and beautiful KPI dashboards, Futrli enables users to answer key business questions as a real-time decision making platform.

Futrli have boasted a stellar 2018 from being featured in Xero’s cash flow playbook to consistently receiving 5-star ratings in Xero’s app marketplace. We spoke with CEO and founder of Futrli Hannah Dawson about how they’re helping accountants, bookkeepers and SMBs navigate the future through forecasting.

Hannah Dawson, CEO and founder (holding the practice app of the year 2018 award) with the Futrli team at Xerocon London.

Helping SMBs discover future growth

Futrli found small businesses tend to base decision making on immediate trends, as forecasting has traditionally been a time and skill intensive process and a luxury afforded to enterprise level businesses. With this gap in the market, Futrli is democratising forecasting to level the playing field.

“Cash flow forecasting is at the heart of Futrli,” Hannah says. “Using actual data, clients can create live 3-way forecasts from their P&L, balance sheet and cash flow statement. With unlimited forecasts available, the ability to project forwards up to 10 years and the option to add in non-financial data, customers can get a real grip on what’s going on with their cash.”

Futrli have a broad focus in the design of in their forecasting systems – after four years, the company has found different needs require different forecasting timelines and features. It’s this flexibility which enables businesses of all sizes and users with varying needs visualise the path ahead and make sure they’re on track.

“For customers that have already started their advisory journey, Futrli provides the perfect suite of visualisation tools to show their clients every turning cog of their business,” says Hannah. “It can be used to map out a business’ future, conduct live budgeting, and used as a progress tracker towards goals so businesses can get it right”

Finding new customers through partnerships

While Futrli is built for small business, their strong alignment with accountants and bookkeepers has broadened their customer base. By providing Continuing Professional Development-Accredited (CPD-A) advisory certification, Futrli has found new advocates in accountants and bookkeepers as well as SMBs.

“By utilising the online curriculum of Futrli Advisory Certification, advisors can learn everything from the basics of forecasting and reporting all the way to advanced methods, how to price advisory and how to pitch it to clients,” Hannah says.

These advisors can provide custom experiences for their clients through Futrli. Simon Kallu, advisor at UK-based accountancy firm Growfactor, says the competition doesn’t hold a candle to Futrli thanks to its beautiful and customisable UI.

“For forecasting and reporting, there’s nothing that can touch Futrli right now,” says Simon. “The PDF reports look so good, and we’ve got a live engine feeding real-time data through from Xero. It allows us to be proactive for our clients.”

The Xero API and ‘always on’ integration

Futrli have invested strongly in their integration with Xero ensuring reactive and responsive data sharing, which Hannah says has provided better experiences for Futrli and their customers.

“Our seamless integration with Xero is always connected, so advisors and their clients know the information in front of them is never out of date. Daily transactional data syncs help you keep on top of fluctuations and opportunities in a business. Accounting firms can even connect Futrli to Xero HQ to get alerts when client thresholds or goals are reached. Adding this to your workflow increases efficiency and ensures client businesses are monitored 24/7.”

With Xero and Futrli, real time forecasting helps businesses with live budgeting to set future costs, guide them on the path to achieving business goals and model scenarios to ensure the right cash-based decisions are being made.

Where to next for Futrli?

2018 has been a year of big wins for Futrli, and the company is taking its own advice by making sure they’re forecasting a brighter future for themselves.

“Having just secured Series A funding from notable venture capital firms, we’re investing the money raised to exponentially grow our business and design cutting-edge technology,” says Hannah. “For us, forecasting and reporting was just the beginning, as we create the next wave in cloud-based, decision-making software directed at SMBs.”

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