Fluidly have announced that they will stop providing access to their cashflow software from 5pm (GMT) on Friday 28th April. They advised this was part of an integration with parent company OakNorth.
Fluidly was launched in 2017, we became a silver partner with them in 2019. The software was an intuitive cashflow forecasting powered by AI stating it was for modern businesses that want to know exactly what their financial future holds and how to optimise it. Fluidly would take transaction data from your accounting system and use it to ‘automagically’ forecast your financial future in minutes, down to invoice-level detail. It was said to “give you cashflow confidence. easily and seamlessly manages your credit control”.
The software integrated with Xero and later with QuickBooks and we really liked what it did. The initial set-up was time-consuming but once this was done it was a powerful tool for forecasting however, despite our excitement, uptake from our clients was slow which we found to be because of the high price of Fluidly.
AccountingWeb reported on the rise of the cashflow tools sector, with a rapid expansion during the COVID pandemic however there was a decline in 2021 with businesses preferring to use more cost effective accounting software cashflow tools that were included in their monthly fee and also using Microsoft Excel.
Fluidly’s VP Commercial told AccountingWEB:
“We now feel that it’s the right time to further integrate Fluidly’s business with OakNorth, this move will see us expand our tools for businesses on a go-forward basis, as well as accelerate our ability to support ambitious SMEs with future-looking finance that can drive their growth.”
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