Accountancy software giant Sage has acquired cash flow forecasting software solution Futrli.
Newcastle-headquartered Sage, which also provides HR and payroll technology for small and medium-sized businesses, said the move deepens its commitment to supporting accountants with complete end-to-end proposal-to-advisory services as the industry prepares for Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA).
Futrli provides a critical tool for SMEs to maintain healthier cash flows to grow their business and reach their potential. Its solution is focused on helping growing businesses understand current and future cash flow through prediction algorithms.
These are based upon data-analysed historical trends, blending direct and indirect forecasting methods, using invoices, bills, journals, cash, and payment data – enabling customers to visualise the past, present, and future of their business.
“At the heart of every successful business is strong cashflow management. Futrli will form an important role in the way we support accountants and their clients to gain the visibility needed to deliver great advisory services – all as part of our Sage for Accountants solution,” said Neal Watkins, EVP product, Sage.
“I am delighted to welcome the Futrli team to the Sage family and look forward to achieving great things together.”
‘Futrli by Sage’ will be integrated with Sage for Accountants, helping accountants to combine workflows across their practice in one place via a per-client pricing model.
‘Futrli by Sage’ will also remain a market solution and will continue to be available to SMEs as a standalone product post-acquisition.
“For nearly a decade, we’ve had a sole focus of helping our customers to better manage their cash flow, which in turn helps them to make intelligent business decisions. We pride ourselves on our unique three-way forecasting solution that allows accountants to tailor and personalise based on client or industry need,” said Hannah Dawson, CEO and founder, Futrli.
“We couldn’t be more excited by the opportunity to scale our expertise and bring this to Sage customers.”