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Stand out from the crowd by white labelling your forecasting platform

18th May 2018
Brought to you by
futrli sage
Futrli is the all-in-one forecasting and reporting platform that helps business owners and...
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Adopting the right software is a fundamental part of rolling out advisory services. As the majority of firms are catching on to this, what else can you do to elevate your firm above the rest?

Don’t be a software reseller

Sometimes it might be tempting to look into creating your own reporting and forecasting software. You need an all-in-one platform that’s able to cope with all your clients’ accounts and projections, and it would be preferable to have it fit with your branding.

But you’re an advisor, not a software developer. Your clients expect and need you to focus on their data and help them grow. Focus on what matters: the insights technology can give you, giving you a great view under the hood of a given company.

Further to this, you’ll be in a position to be proactive with your clients’ data and strategies. Some firms will talk the talk, claiming to be the best, but do they have the supporting tech to back this up? It’s great to use cloud-based accounting packages, but they won’t show you a 360° view of a business. Accounting packages so readily lend themselves to add ons that it’s certainly best practice to use tools that will elevate your offerings.

For your team, a sense of ownership of the tools you use will help them champion the services they’re offering. Feeling comfortable with a piece of kit, especially when it feels like it’s been built for your firm, will raise their confidence and instill a level of pride, which is great for morale and customer relationships.

Core benefits for your firm and clients

There are plenty of benefits to white labelling, sometimes differing firm to firm. With a little help from Forbes, here are the top four reasons for white labelling that we certainly agree with:

  1. Quick and easy to brand. As the reseller, you’ll be free from concerns about needing to spend time and money on research or development. You can add your own branding and identity, and get back to business.
  2. It keeps your customers happier. The extra months (or even years) that it takes to develop your own solution can force customers elsewhere for solutions. Meet their needs immediately.
  3. It saves you time and money. Developing a solution from scratch takes a large amount of financial and human capital resources — not to mention time. The effort of creating derails internal business processes and busts budgets so investing in an existing solution may be more cost-effective in the end.
  4. It allows you to focus on your business’ core competency. In many cases, the solutions that companies hope to build themselves fall far outside of their areas of expertise. Prepackaged solutions provide an opportunity to trust the experts in the specific space you are focused on, and avoid making the same mistakes that others have made before you.

White labelling success stories

White labelling is even more valuable in practice, as we found out from Lead Client Account Manager at Blu Sky Chartered Accountants, Sam Wood. Right down to the firm’s strapline, “We are a people business, not a numbers business”, it’s clear they understand each business owner has a unique path and drive. The team focus their attention on helping each client hit unique targets and achieve their goals. Sam says,

“Futrli is everything we wanted to do but we didn’t want to invest in building it ourselves. We need to focus on being better advisors, we’re not software engineers.”

White labelling also ties all of your branding together, so you maintain your messaging throughout all of your client communications.

Niall McGinnity owns Nuvem9, a cloud-based firm which has also taken Futrli for their own. Knowing that a disparity between software can come across unprofessional and hurt a brand, he told us,

“White labelling is us saying, ‘we’ve always done this but here’s an ever better way of doing it’. So far everyone has said it’s great and it shows them the last piece of the jigsaw, pulling together everything we’ve given them so far together in one central place.”

Your clients’ financial data will be presented clearly, allowing them to really connect with their figures. There aren’t many firms that can boast that they have their own insights and forecasting app, but that’s what white labelling will help you do. You’re likely to notice an uptick in referrals and brand loyalty too.

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