What it does: Mobile business analysis software for SMEs
Why it works: As a chartered management accountant working with SME businesses for over 20 years, I have seen firsthand the problems encountered by them from not having access to timely feedback on their business performances. Brenda Jordan, co-founder, CloudKPI
Twenty-five years spent running her own practice taught Wicklow-based accountant Brenda Jordan the importance of adopting a strategic approach.
Jordan has just launched CloudKPI, having run Accounting for Growth in Bray since 1989.
CloudKPI is a mobile software product that gives smaller businesses affordable access to the Key Performance Indicators needed to analyse business performance and inform strategy.
This information, including data on debtors, creditors, cash flow and sales, is aimed at busy business owners ”on the go”, who want easy access by mobile phone, said Jordan.
She launched the product two weeks ago, and has since signed up 19 customers, having teamed up with chief technical officer Shea Cummins in November 2012 to begin development.
The pair have invested Euro 160,000 in CloudKPI, comprising their own money, Ulster Bank finance, Competitive Start funding from Enterprise Ireland and support from the Local Enterprise Office in Wicklow.
Jordan believes the system has the potential to boost business performance, enabling SME users to make more strategic business decisions.
We focus the user on understanding and actively using the analytical data for making day-to-day decisions in a simple, clear fashion.
As a chartered management accountant working with SME businesses for over 20 years, I have seen first-hand the problems encountered by them from not having access to timely feedback on their business performances.
CloudKPI Business costs from Euro 49 (plus Vat) per month for one user, and can be integrated with off-the-shelf accountancy packages such as Sage 50, 100 and QuickBooks, due for release later this year.
It runs the analytics in the background, feeding the results to the end user on a real-time basis. There is no user input required, and the feedback is easy to understand and clear in its data presentation.
It was her own experience that prompted her to consider business avenues that would create new opportunities.
In October 2012, I was asked the question, ‘Where do you think your industry will be in five years’ time?’
That got me thinking about the value I, as an accountant, was offering my clients, and the very real need for all accountants to change their roles to that of supporters of business owners, particularly in decision making.
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