Square Mile Accounting is a 100% cloud accounting firm. Owner David’s core philosophy is to utilise technology so accountants spend less time ‘turning the handle’ and more time adding genuine value. He just needed an all-in-one tool to match his ambition. His clients wanted more insight into their data and needed to feel more confident things were going well.
David has moved his clients into Futrli and away from spreadsheets His old way of working was labour intensive and his clients had been missing key information. Having all the data in one place and it being easy to edit and customise has meant clients are much more in the loop about the health of their businesses.
Futrli has allowed for much more dynamic working. The client’s way of handling their finances has been transformed. They are no longer missing VAT bills or unexpectedly encountering cashflow problems. They’re able to make decisions much more confidently, which has helped Square Mile’s client retention.
Interview in full
Located in the heart of the UK’s thriving Tech City, Square Mile Accounting specialises in working with start-ups and companies in the digital and technology sector. The practice provides many of Britain’s brightest and most innovative digital companies with a first-rate service that meets the demands of a 21st-century company. Founder David Gormer and his team at Square Mile Accounting use the latest technology and industry best practice to give their clients every chance possible of fulfilling their potential.
“One of the reasons I set up Square Mile Accounting,” says David, “Is that a lot of companies out there don’t understand the kind of services an accountant can provide. They see financial services as being about form filling and tax paperwork.”
“Clients don’t realise just how much their business can benefit when they have an active accountancy partner. Futrli is the best tool out there to get that point over. We can quickly and powerfully demonstrate with Futrli just what it is they are missing out on.”
Futrli’s capacity to turn complex financial information into clean, clear and concise visual information is, for David and his team, a fundamental part of the platform’s strengths and a significant advantage over other tools on the market.
“We are working in a young, creative sector where the design aspect of any product can make or break it,” explains David. “Many of our clients are UX and design experts and they respond in a hugely positive way to software that has attractive and functional design at its core. Futrli ticks those boxes for them and really helps us bring in new clients and build closer relationships with those we already work with.
“Futrli backs up its visual appeal with a fantastic engine that brings results. Giving accountants the chance to take the toil out of reporting and compliance and freeing us up to focus on advising and guiding our clients.”
David’s team found that as many of their customers are start-ups, freelancers or SMEs, it’s common to find that when they start working together programs like Excel are a core part of a client’s accounting process.
Square Mile Accounting is a 100% cloud accounting practitioners and recognised Xero Silver Partners. David’s core philosophy is to utilise technology so accountants spend less time ‘turning the handle’ and more time adding genuine value.
“There’s an admirable bootstrapping, DIY culture with many of our clients,” says David. “They are often real hands-on types and want to build every aspect of their business. But, as they grow, Excel is just too time-consuming and prone to errors.
“We’ve recently transferred one client from Excel to Futrli and it’s made an instant impact,” says David. “Whilst the spreadsheet was very well built and highly detailed, it simply wasn’t user-friendly and as well as being labour intensive the client had been missing key information as the format is not the best for analysis or planning.
“Futrli is much more dynamic and the client’s way of handling their finances has been transformed. They are no longer missing VAT bills or unexpectedly encountering cashflow problems, Futrli heads all that off and mitigates against the risk of missing crucial things.”
Square Mile Accounting embody the best of a new wave of financial advisors who are genuine partners, rather than ‘service providers’ to those they work with. “Futrli is a huge part of the jigsaw for what we do,” says David. “It allows us to go far beyond a transactional relationship, to a meaningful and beneficial consulting one.”