Digital agency Komodo use Futrli to navigate the future

Challenge

Komodo founder and managing director Andy Greer wanted to pinpoint and exploit market opportunity. The trouble was, he was spending much of his time wrestling with financial scenarios and what-ifs in spreadsheets. He needed a forecasting solution that allowed him to help the team drive success by working with clients. As the company was facing a big growth stage, Andy needed clarity over the big decisions like hiring.

Solution

Andy now models his new contracts against his top line sales and expenses. It shows the impact of the scenarios on his balance sheet, P&L and cashflow statement in seconds. Andy’s operating the business with so much more clarity now, and steady growth is happening. Now his finances are running seamlessly, there’s a lot more time for him to get back to what he loves – design.

Results

Komodo is running effectively, with all scenarios and variables accounted for. Andy and his team are focusing on what they excel at, and that’s made for a more enjoyable working day. The business is able to stay ahead in the market thanks to Futrli’s nature of navigating the future, mitigate risk and maximise opportunities.
 

Interview in full

How have you found working with Futrli?

It would have been great to have had Futrli at the start when I set up Komodo Digital. It’s the best forecasting tool we’ve used, it’s incredibly powerful and in contrast to working with spreadsheets, there’s no comparison. Pinpointing and exploiting a market opportunity by delivering great services and products is where I want to use my time rather than wrestling with the financial scenarios and what-ifs.

Futrli allows me to minimise time spent on forecasting and focus my time on actual delivery.

How often are you using it?

We use Futrli most days. If a new contract lands then we need to model the effect on top line sales and expenses quickly and easily and with Futrli I can see in seconds the impact on different scenarios across P&L, Balance Sheet and Cashflow thanks to the software’s all-in-one capability. How does the acquisition of a new client affect when we should hire next? Futrli will give me that answer.

I can look at my P&L for the next 3 years or visualise our core KPIs from the forecast. For example, what do wages as a % of overall expenses or sales look like? Advertising expenses as a % of revenue? A great feature is being able to copy scenarios with one click. In an instant, you see a completely different outcome of what’s ahead.

Why do you enjoy using Futrli?

Being involved in the technology sector, it is critical to be aware of what’s going on and what’s happening next because what’s happening next is ultimately where you are going to create your revenue and if you’re not preparing for it then you’re always going to be playing catch up. It’s easy to get wrong too which can be costly. Futrli helps us navigate the future, mitigate risks and maximise opportunities.

How did you hear about us?

We found Futrli on the Xero website. We tried other Xero add-ons as well but for us, Liveplan wasn’t flexible enough and it didn’t handle UK VAT very well, and Float didn’t go into enough detail. Futrli syncs seamlessly with Xero so you don’t need to hack the numbers to get it to work.

I am a designer, so I really appreciate the clean interface making it easy to interact with and use on a daily basis. We always know how we’re performing against budgets. An added benefit is that when I export reports for investors, they look great and communicate our vision accurately.