Case Study: Improving reporting with FUTRLI

We're increasing our use of different Xero add-ons, where they benefit specific clients.  One app that benefits all of clients, regardless of size, is FUTRLI.

Connecting Futrli, a forecast and reporting engine, with Xero cloud accounting software has enabled educational social enterprise Evolve to improve its efficiency in tracking its financial performance.

The business, that supplies Health Mentors to improve pupil wellbeing in schools, has regional managers based in areas across England and Wales and FUTRLI has allowed Evolve to look at the business more efficiently, both at a national and regional level.

The dashboards prepared by My Management Accountant using the platform are proving to be easier to understand and much more user friendly than spreadsheets.

“FUTRLI is a piece of software that feeds off Xero, so allows us to prepare numerous financial key performance indicators (KPIs), as well as giving us the capability to import in, and report on non-financial KPIs,” Martin Bown explains.

“For Evolve, specifically, we’ve produced numerous KPIs, both at Evolve (whole company) level, and region by region.”

The dashboards prepared by My Management Accountant:

  • Look at the business both at a national and regional level
  • Compare actual financial performance forecast
  • Give region v region comparisons
  • Produce region specific boards to share with each regional manager

 Typical measures we report on include:

  • Analysis of the profit & loss account (actual v forecast)
  • Revenue
  • Gross profit
  • Net profit
  • Average revenue per mentor by region
  • Average contract value by each region

Evolve managing director John Bishop said: “I’m a big fan of visuals for forecasting and planning financial information and using FUTRLI has improved the way we share data with managers across the country.

“The system has dramatically reduced the time spent on creating graphs and spreadsheets. This has released some of my time and has given managers more accountability for their figures and regional performance.

“The beauty is that it links with our accounting system so that we don’t have to duplicate any work.

“The boards enable us to look at forecasts and actual figures as well as non-financial data such as how many new clients we have acquired.  It is all very straightforward and intuitive.”

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