Stop the risk and turn your data into decisions

Actual and budget/forecast data is all in one place, so tracking where you are today and where you think you are going to be next month, year or in 5 years is something you can do in seconds. It’s updated automatically every time we sync your data or you upload it.

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Stop the risk and turn your data into decisions

Data is meaningless unless it helps make decisions that have measurable impact.

Unfortunately, many decision makers are blocked by, what to do with the information at hand and how to make it meaningful for not just themselves, but for those at the front line of their business. Running your business with blinkers on is a huge risk and something that can be easily turned around.

The first thing to identify is what you need to measure. Sometimes that can appear to be a frightening prospect, but it doesn’t need to be. Your business data is a collection of stories; obvious and hidden patterns that intertwine, layer upon layer culminating in your bottom line profitability and cash position.

 

FUTRLI is all about the future, but you do need to understand what has brought you to today. That won’t happen during a traditional annual accountant-client meeting. We’ve all been there and have been presented the big “Tadah!” Moment where you are delivered your annual accounts, and had at least one of these thoughts:

 

  • “What does my balance sheet really mean?”

  • “Why are my wages so high?”

  • “When did I spend that much money on X?”

  • “Why did no one tell me that I was systematically losing money in this area at the time?”

  • “I thought because I had cash in the bank that I was ok, but it could have been so much more…”

 

Your accountant/advisor should be your right hand man or woman, helping you to read between the lines of your business’s story if you’re new to this, or working with you on your next action plan if you have a solid knowledge base.

 

 

What is true in every case is that whether you prepare your own management accounts every week on a spreadsheet, or whether you are just looking at your cash as an indication of how your business is performing, every business is different, and that’s ok, but every business will get better if those running it understand what marginal gains they can make to maximise eventual output:

Based upon last years data, if we increase sales by just 1% what does the business look like? Or if we increase average spend by $1 per customer? Or if we paid annually for all of our software and received a 10% discount, what impact does that have?

Marginal gains in business can be found when you look at the story, and when you can drill into the trends of your current and predicted business performance weekly or daily, there may be hidden gems of information that you can act upon.

 

But, it doesn’t stop there. It’s still all meaningless unless you get these answers into the hands of those who are running your business every day. Empowering your team with real facts about the business and how their actions contribution to success for the business and ultimately them is key.

If everyone is singing from the same hymn-sheet, and looking to the marginal gains that they can make, then the impact on the team, i.e. the business may well be staggering.

“FUTRLI is going to be (if it isn't already) a phenomenon in the accounting industry!” - Paul Meades

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