Radar collates personalised important accounting information for small businesses.
Radar, which is free to all FreeAgent users, is the latest addition to the company’s award-winning suite of small business financial admin features. 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.
Using smart data analysis from within each customer’s business accounts, Radar highlights important admin tasks that need to be addressed - including explaining outstanding bank transactions and reconnecting Open Banking feeds.
Radar also contains a revamped version of FreeAgent’s Insights feature - which provides users with intelligent financial data insights about their best and worst-paying customers, forthcoming VAT bills and their top spending categories. The company plans to introduce more insights over the next year to provide deeper and more useful analysis of business accounts.
Ed Molyneux, CEO and co-founder of FreeAgent, said: “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.
“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.”