12 May 2022 – Sage (FTSE: SGE), the leader in accounting, financial, HR, and payroll technology for small and medium-sized businesses (SMBs), today announces it has completed the acquisition of Futrli, the UK’s premier cash flow forecasting software solution for SMBs and accountants. The move deepens Sage’s commitment to supporting accountants with complete end-to-end proposal-to-advisory services as the industry prepares for Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA).
Futrli provides a critical tool for SMBs to maintain healthier cash flows to grow their business and reach their potential. Futrli’s solution is focused on helping growing businesses understand current and future cash flow, providing SMBs and accountants with data-driven three-way forecast financials (profit and loss, balance sheet, and cash flow) using propriety prediction algorithms. These are based upon data-analysed historical trends, blending direct and indirect forecasting methods, using invoices, bills, journals, cash, and payment data – enabling customers to visualise the past, present, and future of their business.
“At the heart of every successful business is strong cashflow management. Futrli will form an important role in the way we support accountants and their clients to gain the visibility needed to deliver great advisory services - all as part of our Sage for Accountants solution.” said Neal Watkins, EVP Product, Sage. “I am delighted to welcome the Futrli team to the Sage family and look forward to achieving great things together.”
In line with Sage’s focus on supporting accountants with services that span from proposal to advisory ‘Futrli by Sage’ will be integrated with Sage for Accountants, helping accountants to combine workflows across their practice in one place, with a simple per-client pricing model.
In addition, ‘Futrli by Sage’ is and will remain a market solution and will continue to be available to SMBs as a standalone product post-acquisition.
“For nearly a decade, we’ve had a sole focus of helping our customers to better manage their cash flow, which in turn helps them to make intelligent business decisions. We pride ourselves on our unique 3-way forecasting solution that allows accountants to tailor and personalise based on client or industry need” said Hannah Dawson, CEO and Founder, Futrli. “We couldn’t be more excited by the opportunity to scale our expertise and bring this to Sage customers.”
For more information on Sage’s commitment to helping accountants plan for the future of their practices and prepare their clients for MTD for ITSA please visit https://www.sage.com/en-gb/accountants/.
Sage exists to knock down barriers so everyone can thrive, starting with the millions of small- and mid-sized businesses served by us, our partners, and accountants. Customers trust our finance, HR, and payroll software to make work and money flow. By digitizing business processes and relationships with customers, suppliers, employees, banks, and governments, our digital network connects SMBs, removing friction and delivering insights. Knocking down barriers also means we use our time, technology, and experience to tackle digital inequality, economic inequality, and the climate crisis.