Telling the story behind the numbers. Guest Post by Martin Coulthard
This post is by Bath SETsquared mentor Martin Coulthard. You can contact Martin at https://www.numerable.io/contact/ or meet him at our First Tuesday session in April.
Do your eyes glaze over when you are faced with tables of numbers in financial reports?
Mine do. I've sat in hundreds of board meetings - for my own companies, businesses I've invested in and others where I've been a non-executive director. In each meeting there is a pile of tabular financial reports, with the occasional graph. We talk through them to work out what is going on, what caused it and what we can do about it. I'm sure we've often missed key points and haven't always made the best decisions. There must be a better way.
Your accounts hold some of your company's most valuable data, and should guide how you manage your business. If you are on top of your accounts you are more likely to avoid financial problems - such as running out of cash, the most common cause of business failure.
My startup Numerable Software is developing an innovative cloud system that instantly turns data from Xero into interactive, graphical presentations and reports, to effectively tell the story behind the numbers. It will save time preparing for board meetings and make those meetings more productive, so directors can see trends, risks and opportunities, and make better decisions.
We particularly want to help entrepreneurs who don't have a financial background get to grips with their accounts.
We are still shaping our product, so we'd love to talk to you about how you prepare and use your accounts information.
If you'd like to help us create a world-leading solution, or just learn more about what we are doing, please contact me at https://www.numerable.io/contact/.
I'll be talking about all of this at the First Tuesday event on 10th April in the Innovation Centre, so I hope to see you there.
Founder, Numerable Software Ltd