Leanne Grant 5 August 2019

The accounting industry has changed dramatically over the years. But Nephos has always moved with the times, as an early adopter of cloud accounting, payments and cashflow management software.

Following our recent launch event, we wanted to shine a light on one of these tools - Fluidly, a close partner of ours and an essential part of the Nephos growth advisory arsenal. 

How important is cashflow forecasting?

Cashflow is an enormous painpoint for businesses, with Xero finding in 2018 that only 52% of all UK small businesses were cashflow positive. Yet the traditional methods for producing cashflow forecasts are increasingly less fit for purpose. Spreadsheets may be the accountant’s best friend, but for business owners conventional cashflow forecasting can be difficult, costly and stressful. 

What is Fluidly?

Fluidly presents a fresh approach. It generates a cashflow forecast automatically using artificial intelligence, trained on the patterns and trends of your historical accounting data. Plugging directly into Xero, it picks up all the legwork of traditional cashflow forecasting. As a result, Fluidly helps small businesses and their advisors look further ahead, and devote more energy to making better-informed decisions. 

Fluidly was founded in 2016, by Caroline Plumb OBE, who co-founded FreshMinds, now innovation consultancy Decidedly and recruitment firm FreshMinds Talent. Caroline’s own experiences as an entrepreneur, particularly the worries of making payroll and paying VAT, inspired her to reimagine cashflow forecasting entirely. Fluidly’s mission? “To help small businesses sleep better at night.'' 

Fluidly has gone from strength to strength recently, winning a CogX award for its AI capabilities as well as £5M in grant funding, as part of the RBS Alternative Remedies Package. The grant is from Pool D of the £425M Capability and Innovation Fund, which aims to drive the commercialisation of financial technology for SMEs. Fintech heavyweights such as Starling Bank, ClearBank and Tide have also won funding in previous pools announced earlier this year. 

Nephos and Fluidly 

We’re thrilled to be working with Fluidly, especially as Nephos continues to supercharge its advisory offering. It’s no secret that cashflow is king when it comes to business growth, so our team have bolstered their existing financial expertise by training as certified Fluidly Cashflow Advisors. 

Simon Smallwood, Head of Partnerships at Fluidly

Simon Smallwood, Head of Partnerships at Fluidly, had this to say about Nephos and Fluidly’s partnership: “Nephos is really pushing ahead with tech-enabled financial advice. The team not only have a deep understanding of real business concerns, but also the insights to help their clients prepare for the future. Nephos has been a hugely valuable partner for us, providing vital input as Fluidly continues to develop its product.”

To hear more about our advisory services or getting set up on Fluidly, get in touch
 

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