FreeAgent gives micro-businesses new Insights into their finances

FreeAgent, the innovative cloud accounting software company, has launched a groundbreaking new feature aimed at helping small business owners, freelancers and contractors run their business ventures more successfully.

The functionality - called Insights - will provide FreeAgent customers with actionable notifications of their businesses’ performance; highlighting opportunities, flagging potential issues and enabling them to make better decisions about their finances.

Amongst the first batch of Insights that FreeAgent users will receive is a top customers Insight - which displays their top five customers over the last six months in terms of what’s been invoiced and links together with FreeAgent’s recently-released customer sales report feature.

Customers with VAT-registered businesses will also receive Insights about their forthcoming VAT bills if it looks like they do not have enough money in their bank accounts to cover their payments.

Ed Molyneux, CEO and co-founder of FreeAgent, said:

“When you’re running a business, you often don’t have time to look at the bigger picture and see how your business is performing, what opportunities are available to you and whether there are any potential issues on the horizon to deal with.

“Our new Insights are therefore designed to make life easier for small business owners and enable them to see important information more readily - allowing them to make more informed decisions about their business finances.

“We envisage these Insights becoming a vital resource for our customers that will give them a deeper understanding of their businesses, make it easier to access useful advice and foster better relationships between them and their banks.”

FreeAgent plans to develop and release more Insights throughout the rest of 2018 and beyond.