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Phebys Rolls out FUTRLI to Major National Franchises
Posted on 23rd January 2017 in Customer Stories
Written by James Marren
Scott Pheby, Founder and Owner of Phebys Chartered Certified Accountants, reveals why FUTRLI (pronounced Future-lee) is the perfect analysis tool for franchise owners. Some great insight and feedback from an experienced cloud accounting expert and big FUTRLI user (even for their own firm!) – it’s well worth a read.
Phebys Chartered Certified Accountants a Cambridgeshire-based firm, was founded in 1999. The team pride themselves on their proactive approach to ensuring those they work with have all the financial information and support they need to thrive. As soon as FUTRLI came on the market, Phebys started investigations and rolling it out to clients.
“We like to go that step further with our clients and we are big advocates of using technology to achieve this. As with all accountancy practices, compliance is our bread and butter but we want to go a step beyond that and be involved with our clients as much as possible. When we give them extra advice, they can grow faster.” said Founder and Owner, Scott Pheby.
How is FUTRLI helping?
As a group of committed cloud accountants and official Xero Gold Partners, Phebys have become heavy users of FUTRLI. Using the platform in particular for forecasting, setting KPIs and carrying out benchmarking – all of which helps their clients plan for success.
“FUTRLI has allowed us to get rid of our complicated, cumbersome spreadsheets that used to slow accounting advice down With FUTRLI, we’ve replaced them with a dynamic platform that gives us real-time insights,” explains Scott. “Now, as soon as the management accounts are done in Xero, we can instantly start playing with what this means for the business and analysing the figures. We have a level of flexibility and power that we’ve simply never had before.”
Tell us about how you’re seeing success with franchises?
“We work with several major national franchises and FUTRLI makes it so easy to drill down into the numbers across a range of franchises and understand the impact at a group level,” says Scott. “With just a few clicks we can compare performances from store to store, product to product and region to region. Allowing managers to benchmark with other branches and set common KPIs or compare and contrast performances.
“If one location is performing better than others, it’s now much easier to examine the numbers and try and find out why and replicate that in other stores. With FUTRLI we can even consider the non-financials business drivers too. This really helps us to tap into what matters to help our clients plan for the future and succeed. It eliminates the guesswork and brings a sense of certainty to our planning.”
Are you collaborating more with clients?
Scott and his team create bespoke DashBoards for their clients to login and view whenever they want to and wherever they are. Allowing them not only to view the latest numbers but also to use the figures to produce their own Reports or carry out their own what-if Scenarios or forecast updates, if they so wish.
“We love the fact we can give our clients the freedom to directly use FUTRLI’s features,” says Scott. “Not only does it enable them to think creatively and come up with new ideas or solutions, there is no danger they will accidentally change figures or formulas in the actual accounts – as would have been the case using Excel or other tools in the past. We encourage our clients to play with different scenarios. This always starts a conversation as the client will then get in touch to discuss what they’ve come up with and we’ll continue to plan collaboratively.”
What results are you seeing?
Scott’s team find that FUTRLI has created more touch points with clients. The increased advisory service Phebys can now offer thanks to FUTRLI, generates more opportunity for regular conversations, meetings and brainstorming sessions. Time previously spent reporting, is now spent looking to the future.
“Cloud software like FUTRLI fosters the spirit of collaboration between client and accountant,” says Scott. “Traditionally accountants were seen as external service providers, divorced from day to day operations. With FUTRLI we are more embedded with clients than ever before and genuinely part of their team. It is no coincidence that the clients we engage with most often tend to be the most successful.”
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This is so much easier than you’re anticipating. To see results like Phebys…