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Receipt Bank and Futrli: How to get confident in cash flow




We’re thrilled to announce a new partnership between Receipt Bank and Futrli, the cash-flow forecasting app that’s changing the game for business-owners.

Oliver Smith, our Director of Strategic Partnerships and Networks, explores what this partnership means for the industry.

Getting a better dice roll with better data

How do most small business owners make decisions? If you are an accountant or bookkeeper, try asking your clients about their decision making process next time you talk.

Whilst gut feel and past experience play a big part in most SMBs decision making, I think most people you ask prefer to have their decisions informed by data.  Without data, they are ultimately guessing – it’s like rolling a couple of dice to try and get a 6, but with no idea if the dice are loaded or not.

Sure, sometimes you might be right, but often you’ll be wrong. And being wrong has the potential to have catastrophic effects on their business. 

So, how can SMBs ensure that they are getting the data they need to make the best decisions about their business. How can they make sure that the dice are fair, or give themselves a better chance of success?

At Receipt Bank, we love data. Our whole business is about helping SMBs and the people who advise them get better data so they can make better decisions. We know that by using Receipt Bank, the small business and its advisors get the most up to date and accurate data which helps with their decision making. 

We also recognise that we are just a piece of the data puzzle.

Why use Receipt Bank and Futrli

By using Recept Bank you can ensure that the data you have is timely, accurate, and reliable – three key elements of data quality. However, until that data is put in the wider context of the business performance, and coupled with the advice from a professional, you don’t know how complete or useful it truly is. Business continuity and growth are directly tied to real-time visibility.

That is why we are so excited to announce that we have partnered with Futrli to help complete that data puzzle. The Futrli platform is the ideal pairing for Receipt Bank, taking the data that we create and turning it into genuinely actionable insights about the businesses performance and prospects that can inform any decisions that need to be made.

Individually, we are both great tools that add a lot of value to your practice or your business, but together we enable so much more. We believe that any accountant or bookkeeper that is only using either Receipt Bank or Futrli, but not using both, is missing out on some serious benefits for themselves and their clients.

That previous statement would have made good sense at any time, but when the world is going through an enormous upheaval that we see with COVID, it’s more important than ever to be on top of the data.  

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