Thursday, 12 January 2012

FreeAgent Alerts tool puts accountants out in front

Online accounting pioneers FreeAgent,, has launched a new Alerts tool that will enable  accountants to automatically track their clients’ finances and highlight, in real-time, areas of opportunity or of concern.

FreeAgent Alerts allows accountants to set-up customised alerts to monitor their clients’ account activity for transactions and entries that may warrant closer examination. By using Alerts, accountants will also be able to take a more proactive approach in helping their clients keep on top of their finances, and ensure that potential issues are spotted and acted on sooner rather than later.

The new feature is available exclusively through the accountant’s existing dashboard - which presents an at-a-glance view of all of their clients on the FreeAgent platform and a portal to drill into the specifics of any one of their accounts.

Because FreeAgent is entirely online and has been seamlessly integrated into the IRIS accounts production solution, it also provides better accessibility for users and a significant reduction in time spent on manual or paper based processes.

FreeAgent believes that Alerts is a major breakthrough in cloud accounting and a first for the industry. Ed Molyneux, CEO and co-founder of FreeAgent, explained: “Alerts will enable accountants to immediately focus on advising and providing insight to their clients, rather than having to spend a lot of time doing more manual monitoring. It puts them on the front foot and helps them to be more proactive in advising their clients.”

FreeAgent collaborated with a number of accountants and accounting firms on the development of Alerts including Freelance World, which provides a full range of accountancy services to small businesses across the UK.

Alasdair McGill, Managing Director of Freelance World, said: “Online accountancy has revolutionised the way accountants work with their clients and FreeAgent’s latest Alerts tool goes even further to help us keep on top of our clients’ accounts. Alerts will give us the ability to monitor our clients' accounts on a daily basis, giving them peace of mind that we're watching the numbers. I’d like to congratulate FreeAgent on how far they’ve come over the last year to give us a great all-round product that will help us to do a better job for our clients.”

FreeAgent is available to accountancy practices throughout the UK via the company’s close partnership with IRIS Accountancy Solutions where FreeAgent powers the IRIS OpenBooks solution, a key component of the OpenApps suite. With the company’s clear insight and knowledge of the accountancy marketplace, IRIS was involved throughout the planning and development process of Alerts.

Commenting on the latest initiative, Phill Robinson, Chief Executive of IRIS Accountancy Solutions said: “Accountants are always looking at ways in which they can add value to their clients and stand out from the competition. IRIS OpenBooks already enables them to get a real-time picture of what their clients are doing 24x7; this new development means that they can now add even more value by stopping problems before they escalate. It gives accountants a real opportunity to support small businesses beyond basic bookkeeping and give them the support and guidance they need in this challenging economy.”

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