Tech-led accountancy firm Purple Lime is stepping up to support SMEs to become more efficient around planning their cash flow during this crisis period.
Based in Wiltshire, though working with clients across the South West and London, co-founder Angela Ashworth is offering to support business owners or directors who want to manage their cash flow themselves whilst using some great technology.
She said: “We’re partnered with the team behind FloatApp which helps businesses to forecast and plan their cash flow which has never been more critical to business survival than it is now. We are also a Silver Champion Partner with accounting software provider Xero. Between them they provide fantastic tools for any small business.”
“FloatApp will help with the management of open invoices and bills and will help plan ‘what if’ scenarios. Today we know quite clearly that there’s at least one ‘what if’ which we are all now facing. Cash flow is a key indicator of financial health,” Angela said.
Purple Lime can offer free FloatApp licences to businesses together with a free half hour remote support session with Purple Lime to help you get set up and integrated to your Xero software. This does not require leaving an existing accountant. Those businesses will get FloatApp free of charge until May 31 this year and after that the monthly cost will be £14.50 per month – a large saving on the normal basic monthly fee to businesses of £49.
The only other cost to consider would be if you require further ad hoc remote training & support from Purple Lime on the use of FloatApp, besides the free online help and support available within the app itself.
“This training will be charged at £55 per hour which is just over 20 per cent discount on our normal one-to-one remote training rates,” Angela said. “Taking up this offer does not mean any business has to leave their existing accountant.” (All prices are subject to VAT at the prevailing rate).
Angela’s top reasons why cash flow is so important in business include:
- Gaining clarity around your ability to deal with critical, unexpected problems or dilemmas such as the one we are experiencing now with Covid 19.
- Plan for healthy management of any debt e.g. loan repayments.
- Plan scenarios around sales & staffing increases or decreases.
- Enabling stronger buying and negotiating power.
- Indicating an ongoing ability to generate and use cash.
- Enabling growth through planned investment.
Purple Lime was set up more than three years ago by co-founders Angela Ashworth and Oli Thomas and has now expanded to a team of ten – usually based at their HQ at Hartham Park. Currently the team are fully operational working from home.
They provide an outsourced finance department for SME business owners using cloud technology enabling them to have real time financial data when making important strategic decisions. Purple Lime are a silver champion partner with the accountancy technology brand Xero.
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