Linked cashflow management and client finance apps at Accountex confirmed that proactive accountants are increasingly willing to help business clients raise finance.
The basic Capitalise service is available for free, but accounting practices looking to get serious about funding advice can switch to the new Pro service, which will cost £150/mo to support five users.
Aimed for larger practices with multiple offices or team members, the Pro edition includes client relationship management (CRM) tools, a business health check based on current asset status and reporting tools including a simple forecasting tool.
With the increasing commoditisation of compliance services, many accountants are looking to broaden their range of services – and funding is one of those areas where clients will always welcome guidance, according to Capitalise event and marketing manager Isobel Anderson.
“Understanding access to finance is really important - it’s one of the top issues for business clients that you could be helping them with,” she told AccountingWEB at Accountex.
In a line familiar to many advisory accountants, the reporting tools will help accountants and their teams to open up conversations with clients about funding. As well as showing the client and adviser different offers and rates from a range of funding providers, the app also lets the firm track the client’s progress.
Elsewhere at Accountex, Satago was ploughing a similar furrow and is poised to bring out a cashflow tool in June. Satago already offers a free client database and dashboard to its accounting partners; the new cashflow module will alert customers to impending cash shortages and point them to finance sources to fill the gap.
AccountingWEB regulars Mark Telford, Alan Woods and Sharon Pocock all spoke up at Accountex in support of this new direction. “Small businesses are still neglected by banks,” said Telford.
“It’ll take a month to get a [loan] decision and they’ll say no. Satago can show how much money clients have in bank and which ones might need help. Having more data means we can do more risk assessment and proactive credit control.”