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4 Services to Take Your Firm to the Next Level

15th Aug 2023
Brought to you by
Futrli by Sage logo
Futrli by Sage offer prediction software solutions for both small businesses and accountants. Let...
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Today, SMEs face a challenging business environment, with uncertain demand, volatile costs and new regulation impacting their ability to grow. As trusted advisors for business owners, accountants already play a key role helping their customers to build more efficient financial processes, manage compliance and protect their interests – but new technology creates the opportunity to go further.  

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As SME needs evolve, the services you offer should do the same – and with the right tools on your side, firms can offer additional value to attract, retain and grow clients without the need to add significant extra capacity. Whether you’re looking to increase per customer revenue, win more business or simply help your clients achieve their goals more effectively, these innovative accounting services can help you get there.

1. Cash-flow Forecasting

According to 2023 data, four in five (81 per cent) small business owners are worried about how the cost of living crisis is affecting their business. The economic pressure on  consumers has resulted in decreased discretionary spending, while costs such as utilities, rent and raw materials have increased the demands on business owners’ wallets.

  • With revenues and overheads in a volatile position, managing cash has never been so important. 
  • However, getting the right data and creating robust forecasts can often be time consuming for firms relying on manual methods such as spreadsheets.

By using Futrli's advanced cash-flow forecasting, you can offer your clients a detailed view into their future financial position. Accurate forecasting will empower them to make more informed decisions, reduce financial stress, and build better business strategies to cope with market shifts.

2. Real-time Reporting

In a fast-changing market, business owners need the ability to make data-driven decisions quickly. However, this puts more pressure on financial processes, with the need to gather, process and review expenses, revenue and investments quickly and accurately in order to gather the necessary insights.

  • Information is often siloed in multiple systems, relying on manual gathering and data entry.
  • Outstanding or mis-labelled invoices can result in missed payments and an inaccurate picture of a business’s financial health.
  • Relying on teams to manually sort through and analyse the data available can be a drag on decision-making and result in missed opportunities.

Real-time reporting through Futrli's tools ensures that your clients have access to their financial data whenever they need it, integrating with your clients’ financial systems such as cloud ledgers and expense solutions to source and analyse data instantly. By providing insights as things happen, you can help clients make agile decisions and maintain a competitive edge, even when the market is moving quickly.

3. Scenario Modelling

This year has seen significant uncertainty across all areas, from interest rate changes to supply chain conditions. As businesses consider long term investments and strategies, choosing the right path can feel like taking a shot in the dark, without a light. 

  • Scenario modelling creates the opportunity to test and analyse various ‘what if’ scenarios to determine the right course of action.
  • By comparing various scenarios, businesses can make data-driven decisions around hiring, investment, expansion and contracts to see the risks and upsides clearly, and in context with the other options available.

Futrli’s scenario modelling allows you to analyse various business situations and predict outcomes. By exploring different scenarios, you can help clients plan and prepare for potential challenges, safeguarding their financial stability.

4. Tax Optimisation

This year has seen significant changes in the tax and compliance landscape as HMRC attempts to stimulate growth and simplify areas such as R&D Credits.

For SMEs operating on tighter budgets, clarity and confidence around tax planning is a key area of budgeting and investment. Owners want to know their obligations as early as possible, minimising unexpected costs while also planning around the opportunities available for reliefs.

Futrli's advanced algorithms can help with strategic tax planning, helping you understand the full scope of your clients data and performance in a single platform to ensure that clients pay only what they owe, including planning for alternative reliefs and planning scenarios.

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Building long-term client value

Adding value as a modern accounting firm requires more than just number crunching; it demands innovation, flexibility, and a keen understanding of what clients want and need. As clients’ positions change, accountants need to be ready to respond and help them adapt.

The challenge for many teams is how to add new offerings without significantly increasing costs for clients or internal headcount. However, with Futrli's flexible forecasting and data analysis tools, accountants can leverage the data they already hold on clients to provide innovative new offerings in an efficient, scalable way.

To find out more about how Futrli can power the next generation of services in your firm, start a free trial today.