Small businesses are the lifeblood of the UK economy and yet many are putting their future at risk by failing to organise finances properly
Just under 600,000 new businesses started life in 2014, but in the same year more than 200,000 bit the dust.
The problem, at least historically, has been a lack of resources, meaning small businesses often let practical and important parts of their operation, such as maintaining healthy cash flow, slip. The result of a business running out of cash is all too clear, but it’s surprisingly easy to do.
Every year thousands of viable businesses go to the wall despite having good products and happy customers. It happens because they focus on creating a great offering, but forget about the admin.
At IRIS we believe there is a better way. As part of the IRIS cloud suite of products, we offer KashFlow, a sophisticated yet simple online accounting platform. It helps small businesses keep up to speed with their finances without robbing them of time better spent on business development and innovation.
KashFlow is easy to access from anywhere, with simple navigation and a fast, free help centre staffed by real people. Users love the intuitive design, the cloud-based “go anywhere” interface and the quick and easy set-up.
Creating invoices is a doddle, while the system even chases late payments automatically, meaning users get paid quicker. You can create quotes too and all of your financial comings and goings are easily logged, with charts and graphs clearly illustrating the health of your business.
For accountants, KashFlow means a healthier, happier relationship with clients. Accountancy firms that integrate with the KashFlow platform can receive all the data they need online, without even having to meet a client face to face.
Happily, it also puts to an end accountants’ perennial bugbear of receiving bags full of receipts to process just before a filing deadline with HM Revenue & Customs. Clients can upload receipt data by snapping a picture on their smartphones – simple.
KashFlow takes care of the tricky financial stuff so business owners can focus on the things they really care about, such as creating great products and making customers happy
KashFlow integrates easily with other systems and swapping from other accountancy software, or even an Excel spreadsheet, is a quick and stress-free job. You’ll no longer have that sinking feeling around VAT deadlines or in the run-up to year end. The system deals with company payroll and pensions automatic enrolment too.
Because it’s cloud based, KashFlow updates for all users on an account in real time. A business owner can input data, notify their accountant and have it filed with a few quick clicks of a mouse button. Why would you deal with paper ever again?
KashFlow takes care of the tricky financial stuff so business owners and entrepreneurs can focus on the things they really care about, such as creating great products and making customers happy.
Accountants can get accurate data in a timely fashion and can use the service as a sales tool to bring in new clients. KashFlow lists its accountants in a directory which comes top of search engines for relevant searches, meaning they can attract new clients as well as organise existing ones.
By moving to the cloud, the future can be brighter for small businesses and accountants. With KashFlow, both sides of the equation can focus on what they get paid to do, while dodging the annoying bits that get in the way.