UK FinTech FreeAgent has added another feature to its suite of cloud accounting software solutions for freelancers and small businesses.
The new feature is called Radar is designed as a central hub for day-to-day financial management, Radar collates a unique, personalised list of the most important information and tasks that small business owners need to address in their accounts each day.
FreeAgent claims that its analytical capabilities are able to highlight important admin tasks that need to be addressed by the user such as outstanding bank transactions and reconnecting open banking feeds.
Moreover, Radar can draw useful insights for the user such as which clients are best and worst and paying their bills, forthcoming VAT bills and their top spending categories.
FreeAgent said it is planning to roll out more types of insights over the next year.
“Our mission is to provide small business owners with the most intuitive method of staying on top of their finances, and we believe Radar will be crucial to helping us achieve this goal,” said Ed Molyneux, CEO and co-founder of FreeAgent.
“Rather than our customers having to identify and plan their own daily admin schedules, we want FreeAgent to do the hard work instead. Using data to build a personal daily to-do list – which will become more intricate and insightful over time – we aim to save our customers valuable time and stress when it comes to doing their books.
“Eventually, we envisage Radar as a complete central hub for small business admin, incorporating everything from daily accounting tasks right through to sourcing wider financial services like insurance and loans. It’s not enough for us to just provide great software that people enjoy using – we also want FreeAgent to be invaluable for teaching and informing people about how their business is actually running.”
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