Futrli have launched Predict, a forecasting solution dubbed the Sat Nav for your business.
Predict is a short term (<1 year), 3-way forecasting solution. It’s made for small businesses that need 3-way forecasts not offered by Float or Fluidly, but need less functionality than Futrli Advisor.
“Predict is the only forecasting software in today’s ecosystem that automatically generates live financial predictions by combining due invoices/bills with a small businesses historical profit and loss and balance sheet, to give a complete and accurate picture of short, medium and long term cash flow and business performance.
Predict is also the only cashflow app to accurately forecast the next VAT due based on actual and predicted transactions.”
A friendly user-interface, much simplified compared to Futrli Advisor.
Integrations with Xero or QuickBooks Online to automatically pull data twice daily to generate automatic predictions for cash flow, profit and loss and balance sheet.
You can choose which predictions to accept or change, exclude specific invoices or bills, and amend expected payment dates.
Predict repeating or one off transactions (plus unit based predictions are on the roadmap). Set date of transaction and VAT, plus when it will be based (100% or split).
What sets it apart?
Predict is the only forecasting solution available that uses data within QuickBooks Online or Xero to generate 3-way forecasts – cash, P&L, and balance sheet.
Using historic data Futrli Predict makes predictions, with each explained so you can understand the method behind the calculation. You can choose whether to accept the prediction or create your own.
Predict will display your predicted VAT amount based on actual and predicted data for both cash and accruals methods, plus it will account for any deferred VAT.
Some initial drawbacks
- The predictive forecasting hinges around the main bank account (determined within the settings), which may not always be appropriate.
- Scenario planning seems a little weak. There does not appear to be a clear way to set scenarios distinguishable from one another, nor to compare different scenarios. The way scenarios work is by toggling on/off predictions. This is much weaker than Float’s scenario planning, and also weaker than Fluidly’s. However it is important to note that they are “busy working on enhanced scenario functionality, allowing you to save and compare groups of predictions, and track their progress over time.“
- The only forecast view available as at launch is monthly, whereas Fluidly and Float both offer daily and weekly views, however it is possible to create transactions that recur daily, weekly, monthly, quarterly, and annually.
- No draft invoice integration
Things you won’t get
- White labelling.
- There is no reporting available other than the in-product P&L, Balance Sheet and Cash Flow forecast.
- It’s not possible to export the P&L, balance sheet, or cash flow forecast into any format, although a Google Sheets integration is planned.
What’s the role of Futrli Advisor?
Advisor is an all in one forecasting and reporting tool. Advisor is more suitable for larger clients that need KPIs, Management Reports, Dashboards, consolidations. There is no link between Predict and Advisor.
All pricing is in dollars and starts at $72.25 per month, billed annually or $99/monthly.
To celebrate the official launch of Predict Futrli are offering a 50% early bird discount on the prices below for BOTH Flow and Predict for 12 months.
There is no minimum number of licenses.
Here’s a few features on their product roadmap:
- Unit based predictions
- Enhanced scenario functionality, allowing you to save and compare groups of predictions, and track their progress over time.
- Unreconciled transactions view – allowing you to see how many unreconciled transactions there are in your accounting system that should be dealt with.
- Google Sheets import/integration
We’ve added feature data to our cash flow comparisons, see how Predict compares to other forecasting solutions.