Fluidly adds funding tools to complete cashflow management solution

Fluidly has added end-to-end funding tools to its award-winning cashflow management solution, offering pre-qualified funding options to millions of businesses within minutes.

Together with the platform’s existing features – forecasting, planning, debtor management – the new funding tools equip accountants to deliver essential cashflow advisory as the UK economy recovers from the impact of Covid-19. By pinpointing future cash shortfalls and showing, at a glance, which clients are eligible for different types of funding from specific providers, accountants can help businesses make informed decisions to secure the best deals.

In the current climate, having cash in the bank is more important than ever. Fluidly works with a panel of leading lenders, including Funding Circle, Esme, NatWest and iwoca, to match businesses with the finance they need. As CBILS, the government-backed coronavirus loan scheme draws to a close this month, Fluidly’s tools provide the intelligence to help accountants deliver essential funding advice to businesses in need of finance but unsure of where to start.

During the pandemic, Fluidly has enhanced its product offering, including the addition of a scenario planning feature, which helps businesses and their advisers plan for lost revenue or a change to their operating costs. Fluidly also offers a dedicated broker service to provide specialist advice in a compliant, low touch way.

The Future of Cashflow survey, commissioned by Fluidly, found that almost nine out of 10 accountants think providing cashflow advisory services is more important now than before Covid-19, when it was regarded as a specialist offering by many accounting firms. Over half (55%) of accountants who participated in the Digital Accountancy Show survey plan to permanently change the way they offer cashflow services in response.

Caroline Plumb OBE, founder and CEO of Fluidly, says: “Funding is the natural extension of our app. Cashflow forecasting is a starting point that lifts the lid on what’s going on in a businesses finances, and once accountants have that visibility, they need tools to help their clients take action. Our planning, debtor management and now funding tools all work together to help accountants improve their clients’ bank balances.”

“During Covid-19 65% of scenario plans created in Fluidly were about survival, but as the economy recovers businesses will look to invest in growth. This is where funding comes in. Fluidly provides accountants with everything they need to help clients secure the finance they need to grow again.”

Sian Kelly, managing director at Inform Accounting, says: “Over the last six months we’ve been stretched thin providing support to all the clients that have needed it. We couldn’t have launched funding during such a busy time if it wasn’t for the low-touch way Fluidly structures its service.”

It’s been great having Fluidly as a trusted partner, identifying which of our clients are in greatest need of funding and making sure they get the right financial product.”

Fluidly’s app, which is free to search, easy to use, and integrates with cloud accounting packages, is designed to help accountants provide support for small businesses that typically reach a cashflow crunch and act in haste, perhaps securing the wrong type of financial product at the wrong price.

Instead, by identifying when companies will need extra cash in the bank, Fluidly matches businesses with relevant products from a carefully curated range of financial providers within two minutes. Fully regulated by the Financial Conduct Authority (FCA), Fluidly is working with leading lenders, to ensure businesses are presented with competitive options for their financing needs. The no-obligation search for funding has no impact on business’ credit ratings.

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Author: Lauren Towner

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