20 Sep 2016

KashFlow announces partnership with iwoca

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KashFlow announces partnership with iwoca 

KashFlow, part of IRIS Software, is today announcing a partnership with fintech business lender iwoca.

IRIS Software Group has agreed to acquire Level10 Ltd including its forecasting and reporting software Gearshift; enabling accountants to provide greater value to their clients in the run up to Making Tax Digital.
Gearshift provides IRIS accountants with reporting and forecasting capabilities, enabling them to deliver high-value advisory services to their clients through its integration with KashFlow. The forecasting software is designed to predict long and short term funding needs more accurately, making more from data and informing smarter business decisions.
The acquisition comes at a time when the accountancy industry is going through its biggest change in recent history, moving towards HMRC’s Making Tax Digital strategy. This is an opportunity for accountants to demonstrate the real added value to their customers and ensure they build stronger partnerships. 
Kevin Dady, CEO of IRIS, says, “As we move closer to Making Tax Digital, it is crucial accountants demonstrate additional value to their customers. While this is significant, we see this as an opportunity for practices of all sizes to utilise innovative technology tools to deliver financial and business consultancy; ultimately bring accountants closer to their clients while guiding them through the transition.”
Kevin Cowan, managing director of Level10, adds, “It is becoming increasingly important for accountants to be able to produce financial information quickly, easily and in a format clients can understand. It’s exciting for Gearshift to be part of the next chapter in financial management.”
Gearshift will be re-branded into different editions for accountants and businesses; introducing a bundled edition of KashFlow that will include the new functionality.KashFlow, part of IRIS Software, is today announcing a partnership with fintech business lender iwoca.

The partnership will offer KashFlow customers access to finance from within their account so they can cover unexpected costs, such as overdue invoices or large bills.

iwoca’s credit facilities are designed with small businesses in mind, as it understands the difficulties SMEs face when cash flow gaps appear.

To combat such issues, KashFlow customers can now gain access to iwoca through KashFlow apps page and plans are in place to extend the integration.

Steven Cox, Senior Product Director at IRIS Software, says, “Cash flow can cause problems for businesses of all shapes and sizes, although it can be particularly troublesome for the UK’s 5.3 million SMEs. The primary focus is often servicing clients and business growth, so unforeseen cash flow issues can have a disastrous impact. Our partnership with iwoca will empower small businesses to focus on growth by offering more choice of funding options.

“The partnership will also empower accountants who can now combine the real-time information in KashFlow with the insights provided by Gearshift to predict funding needs for their clients, not only where cash is tight, but also for growth. Using this information, accountants can then provide their clients with options and decisions, dealing with either cash collection issues or larger funding requirements.”

Christophe Rieche, CEO of iwoca, says, “Our vision is to make access to finance simple and seamless for small businesses, so we are delighted to partner with KashFlow to make this a reality for its customers. By working together, we will ensure KashFlow customers can access credit instantaneously using their accounts data, which will enable them to solve day-to-day cash flow challenges and invest in growth.”

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