HM Accounting help clients plan the future with Futrli management reports

Challenge

HM Accounting wanted to stay true to their ethos of providing a tailored, personal service. They knew they could give a service unmatched by larger firms. They needed a versatile tool that could show their clients insights the could really understand. The team wanted to claw back time usually spent preparing reports so they could spend more time with their clients.

Solution

Futrli allows the team to automate processes, saving time to spend nurturing client businesses. Owner Rebecca uses Futrli, supported by Xero data, to go beyond what traditional accountants do for their clients.

Results

HM Accounting can create monthly management reports in no time. What once took them up to five hours, can now be produced in less than thirty minutes. The time gained allows the teams to focus on forecasting a client’s future, rather than try to sort and file a client’s past.

Interview in full

HM Accounting is a family run business that provides high-touch bookkeeping and accountancy services. Founded by Rebecca Ashton, a qualified accountant with 13 years’ experience across a vast range of sectors, the firm specialises in working closely with SMEs, local businesses and sole traders. Based in East Morton, West Yorkshire, HM Accounting offers a flexible service to its clients with a personal touch larger firms can rarely offer.

“We launched just over two years ago,” says Rebecca. “From day one we’ve focused on giving each client a highly tailored service that best suits their interests.

“At HM Accounting we are firm believers in using technology to give our clients every advantage possible – to give them that edge that helps them move forward with belief in what they are doing.”

Rebecca and her team utilise Xero, in conjunction with Futrli, to go beyond the traditional accountant and client relationship and to become genuine business advisors and valued partners

“Futrli helps us to move away from compliance and savings and towards adding value,” explains Rebecca. “Futrli’s automation and simplification of the reporting process frees up time and resources for us to go through the numbers in detail, something that’s very difficult to do, or even impossible, when using spreadsheets or manual based reporting. “That extra time can then be used in all sorts of ways to benefit our clients. We now have much more time to sit down and talk with our customers and focus on what they need to do to succeed.”

HM Accounting has found that some of their monthly management reports, which previously would have taken anything up to five hours, can now be produced in less than thirty minutes. The time gained allows the teams to focus on forecasting a client’s future, rather than try to sort and file a client’s past.

“With Futrli we also find that it is easier to illustrate our thoughts to our clients. We can use the software’s visualisation tools to help business owners focus on what really matters.”

Rebecca’s team recently visualised a retail customer’s cashflow forecast to demonstrate which product lines were likely to help them hit the growth targets they had set themselves. With Futrli’s simultaneous 3-way forecasting tool, HM Accounting was able to drill down into the numbers in a way simply not possible before.

“Our client was able to see with much more clarity what they needed to do and what product lines they needed to focus on,” explains Rebecca. “They quickly decided to drop lines that were not bringing in the results they expected and focus on those that were.

“Before they had had to rely on their gut or reporting figures that may have been several weeks or even months out of date. Now we give them up the minute, real-time information. That’s invaluable for them and has really made a practical difference to their bottom line.”

By adding Futrli to their toolkit, HM Accounting has been able to bring forecasting and budgeting techniques that were previously the preserve of large, resource-rich companies to even the smallest of SMEs. “Futrli is incredibly useful for smaller firms and sole traders,” says Rebecca. “Not only does it give business owners detail they never had before, it doesn’t matter if they aren’t experts with figures.

“With Futrli we can present the information to them in a manner they understand. It’s hugely exciting for them and us and opens up a huge world of potential.”

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