Press Room - About KashFlow
KashFlow is an online tool specifically designed to help owner managers in small businesses manage their accounts effectively.
KashFlow gives owner managers hands-on control over all their business finances. It is a simple, jargon free online tool that actually guides business people to manage their accounts effectively. It requires no installation, software training or prior knowledge of accountancy.
Too often accountancy software is designed for accountants, not busy owner managers. Applications that are supposed to make managing business accounts easier can be excessively complicated and far from user friendly. The simplicity of KashFlow saves time that business people would otherwise spend learning accountancy and how to use often complex accountancy products.
KashFlow gives owner managers hands-on control over their business finances, enabling them to:
- create, print and email professional, tailored invoices
- save time chasing payment by simplifying the sending of reminder letters for unpaid invoices
- save time working on tax returns by automating VAT calculations
- log payments received and purchases made
- receive automated prompts when invoices become overdue
- manage the business’s client base, identifying profitable and problematic customers
- identify and nurture their best business sources.
An easy to use, jargon free and time-saving accounting system
One third of SMEs (33 per cent) feel that they spend too much time dealing with non-core business activities like paperwork, credit control, and statutory financial requirements. It is estimated that the average SME loses one day every week to non-core business activities.
With this in mind, KashFlow has been designed to be simple to use by automating many accountancy tasks. Users instinctively know where to click to perform almost any accountancy task. This simplicity frees up valuable time and resources, allowing small businesses to focus on core business activities.
Save time chasing payment
Research shows that SMEs in the business services sector spend an average of 5 hours every week chasing overdue invoices to maintain their cash flow. Late payment of monies owed - including the time and resources taken to chase late debtors – is a large contributory factor to the failure of many micro businesses. Around one third of SMEs experience late payment problems. At any one time, small businesses in the UK are collectively owed more than £11 billion - an average of £33,600 each. If the delay in payment is up to two months late, it is estimated that around 17 per cent – 56,270 businesses – will collapse. In addition, 58 per cent of all SMEs believe that they could increase productivity if they didn’t have to chase invoices.
With this in mind, KashFlow’s developers have included a function that simplifies chasing payment for monies owed. When sales invoices become overdue, KashFlow generates formal pre-written letters. All the user needs to do is click print, sign and post them to their overdue clients. There are three such letters, each with a gradually more severe tone.
Informed business planning by monitoring business performance
Small businesses often do not have the time and ‘know how’ to properly invest in business analysis. Poor financial management and planning contributes to the closure of 100,000 SMEs each year. Using KashFlow provides a simple and time-efficient way for small businesses to monitor their business performance.
KashFlow translates often incomprehensible business data into meaningful graphical reports of business performance that anybody can understand and most importantly act upon. These include reports of monthly sales and income, product/service sales per month, income generated from products/services and income generated by particular customers.
Safe and portable data
KashFlow uses the same encryption techniques as Internet banking so data is safe. As it’s an online tool, there is no software to download and accounts can be accessed from anywhere – at home, in the office or at a client site. Data can be backed up easily to users’ PCs and easily emailed to accountants.
Comments from KashFlow users
Ian Makgill, Managing Director of business development consultancy Ticon says: “Every accounts package I looked at needed installation, training and an understanding of accountancy. With KashFlow I logged on and was managing our accounts right away - no installation, no training and at a much lower cost.”
Venka de Rooij, owner of homeware e-tailer
Dutch By Design – Contemporary Lighting & Home Accessories says, “It is so easy to use that I got a work experience student up and running within 30 minutes. I found it all pretty much self-explanatory.”
Barbara Tobias, a tailor says, “I haven't enjoyed doing my paperwork this much before. You'll laugh but I find myself wishing for the next receipt or invoice so I can log in.”
Amanda Eatwell, Director of AJE Photography says, “KashFlow has revolutionized my accounting and for the first time I am actually enjoying doing my accounts!”
All users benefit from a free, no obligation 60-day trial. Monthly subscriptions cost just £15.99 per month.
Trials and subscriptions are available at www.kashflow.com.
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About KashFlow
KashFlow is an online tool specifically designed to help owner managers in small businesses manage their accounts. KashFlow's aim is to take the boredom out of managing a company's accounts and to make the day to day tasks easier to achieve so that less small businesses neglect this area.
KashFlow keeps accounts management simple: it requires no installation, software training or prior knowledge of accountancy.
All users benefit from a free, no obligation 60-day trial. The monthly subscription price is £15.99 a month - including free support and upgrades.
Contacts
For further editorial information, contact:
Dominique Gillespie
PR Manager
dom@kashflow.co.uk; 020 7403 0101
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