Float, the cash flow service for Xero, QuickBooks Online and FreeAgent, has announced that Anderson Anderson Brown LLB (AAB) has joined its partnership programme and is rolling out the Float service to its entire Xero client base.
The Float partnership programme is designed for accountancy firms looking to expand their cloud software offerings and improve their advisory services, enabling them to roll out discounted Float licenses to clients.
With its use of real-time financial data, Float provides more accurate cash forecasting and empowers businesses to make more informed data-driven business decisions via powerful scenario planning tools.
‘What if’ scenarios can include a range of possible business scenarios such as new hires/wages, a lost customer or late payments. For accountants, this also means being able to map and understand businesses’ objectives better, provide faster and more accurate data and advice – all while reducing billings and time spent updating spreadsheets.
The partnership programme was seen as a perfect fit by AAB, one of the UK’s leading Chartered Accountants, due to the firm’s emphasis on advisory services and the recent expansion of its cloud accounting and outsourcing team. The expansion follows a surge in demand from clients and will enable AAB to better meet their needs post-MTD, when digital accounting becomes a legal requirement for the first time.
From April, there will be even more demand for progressive and tech savvy accounting firms whose financial advice goes beyond end of year tax and ensures clients get the most out of their accounting cloud software packages.
“Float fills a big gap in Xero’s core functionality, which many of our clients use and love,” said Hilary Dyson, head of cloud accounting at AAB. “Float is perfect for businesses that need drill down into their immediate cash flow situation and get useful, up to date and detailed insights into how it can change in the short to medium term. It can be a great addition to any organisation but I expect a lot of interest from start-ups and business with a digital or services model in particular.
“The compliance element of accounting is shrinking fast and will continue to shrink over the next few years,” continued Dyson. “The role of financial advisors has shifted, and this change will be magnified even further after the introduction of MTD. Firms that don’t believe this and aren’t seriously looking at all the technology solutions on the market today are doing their clients a great disservice.
“At AAB, we believe that our value is in the experience and knowledge we have as accountants, not in how many hours of billable work we do. We must work much more closely with our clients as trusted advisors, using tools like Float to provide fresh insights in real time that can help them grow their business and prepare for the future.”
“AAB is exactly the kind of progressive firm we love to partner with,” said Float CEO and founder, Colin Hewitt. “They are well ahead of the game when it comes to advisory services, their use of cloud accounting software tools and overall preparations for MTD. I expect MTD to be a line in the sand for the accounting industry and a catalyst for much better accountant/client relationships. The role of accountants will shift even further away from compliance and towards the many ways that savvy financial advice can help businesses achieve success. It’s going to be a great move for all involved.”
As part of the partnership programme, AAB will benefit from:
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