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Accounting app captures business insights

Accountants, financial advisers and business owners have a new cloud-based application that will give them unrivalled insight into company financial performance, allowing smarter scenario planning and business analysis.

Jazoodle’s set of tools will allow users to modify key financial inputs that will result in easy-to-view future financial statements, helping users foresee potential issues and opportunities.

“This accounting application, also intended for educators, securely and seamlessly integrates with Xero in order to gather financial information, prepare reports, set KPIs (key performance indicators) and generate forecasts and scenario plans,” Jazoodle founder Andrew Paton-Smith said.

“The application has been designed and built with a view to making it easier for business owners, and those advising them, to get an instant valuation of their business and see how changing various financial inputs, such as expenditure and sales, can affect the future performance of the company.”

Users can model specific future scenarios, instantly presenting unique opportunities, as well as the risks they could face, making it simpler for companies to understand what moves to make next, Paton-Smith added.

Jazoodle will also instantly generate an indicative valuation for a business, which will provide a convenient and practical gauge of how the business is doing, which can be monitored over time and be of use when the owner of the business is looking to sell.

“If a company’s in trouble, or outperforming expectations, there is a health barometer clearly displayed on the dashboard, making it easy to quickly monitor the financial stability of the company,” Paton-Smith said.

“The inclusion of this meter will help alert financial advisers and business owners to take corrective measures early, avoiding potential catastrophes.”

The cost of the application starts at $11.50 a month for businesses in the Australian market, dependent upon volumes, and it can be trialled for free.

Accountants and business owners can receive volume discounts from as few as five client connections.

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