SaaS Business Hive.HR Forecasts Cash Flow and The End of The Annual Employee Survey With FUTRLI
Posted on 22nd February 2017 in Customer Stories
Written by Amy Harris
Founded in 2015, Hive.HR is a start-up with large ambitions. The business aims to make a positive change to the employee and employer relationship and solve the problem of an unhappy workforce, with only 1 in 3 in the UK claiming to be ‘engaged’ in their jobs. Hive.HR is cloud application that makes it easy for business owners and HR professionals to understand, measure, and improve employee engagement in a transformational way. The idea is that through weekly, anonymous, micro-surveys, employers can measure the engagement, motivation, and productivity of their workforce. We interviewed John Ryder, Founder and Managing Director of Hive.HR, one of seventeen entrepreneurs from England and Scotland who have made it to the shortlist for the BQ Emerging Entrepreneur Awards in 2016.
What did you use before FUTRLI?
We spent a lot of time on what we class as ‘unnecessary admin’ using Google Sheets and Google Slides. That’s a term we’ve coined for anything that we think could be automated or greatly improved through the use of technology because our maxim is ‘less admin, more impact’. It’s a phrase we’ve used to underpin our own product offering and we’ve adopted it in terms of how we run operations at Hive.HR as well.
As an early stage startup, we can’t justify spending development time on building our own operational systems because we’re working on making our own product even better. So we like to identify products, tools and platforms that we can use as part of a stack, with the aim of reducing as much admin as we can. Less admin, more impact!!
FUTRLI was recommended to me by the CEO of GrowthFunders, the crowdfunding platform that we used to raise investment. Norman’s background is in finance, so I knew that it was a recommendation I could really count on. We looked at and trialled a handful of other management information platforms and whilst they were OK at looking at how we’d performed, I’m most interested in is how the business is shaping up when looking forward. No other app on the marketplace was focused on the future.
Tell us the top 3 things you love about the app…
- My absolute favourite thing is the forecasting feature. Having an accurate view of our cash flow as we accelerate our growth of the business is absolutely critical, it’s a startup imperative.
- Naturally, I like to make sure that the business’ cash position is healthy; but not too healthy because we’re utilising that capital to accelerate growth. By using FUTRLI’s forecasting feature, we can quickly play out multiple scenarios to see how cash flow could be impacted if we make that new hire or invest ‘big’ in that conference. Using the forecasting feature, we can make the right, informed decision with confidence.
- I also love the fact that I can share management information with the board easily. They have logins and can review the same data that we have access to.
What do your team think about FUTRLI?
They absolutely love it. Transparency is just part of our culture here at Hive, so it’s a great fit. Everyone has an opportunity here to play their part and influence the numbers that make our business tick.
We’re all accountable for driving business performance in one way or another. FUTRLI acts as the lens through which the whole team can view and connect with the strategic narrative of the business. As the CEO, I feel strongly that it is my job to share the vision, give shared accountability and keep the team up-to-speed with the right management information. This way your team will have more autonomy to make a positive difference to your KPIs.
What advice would you have for others thinking about getting started with FUTRLI?
I’d advise people to opt for the assisted set-up so that you can get maximum value out of FUTRLI as soon as possible. I’m allergic to instructions or how-to guides, so the assisted setup was the fastest way to see how everything works because I prefer to reverse engineer what’s there to figure things out.
Last but not least, can you please sum FUTRLI up in a few sentences…
FUTRLI makes it really easy to see where our business is going and how we’ve performed against the KPIs that are most important to us. It gives us the insight and confidence to be able to make the right informed decisions on an ongoing basis.