It all adds up to success
A Sunderland software startup is aiming to revolutionise the accountancy industry with its latest product.
Inflo was set up by two accountants frustrated by the dated, largely paper-based processes still widely used in the industry.
CEO Mark Edmondson and COO Graham Clark, who have significant experience of accountancy between them, started the business in January, along with business partners Grant Cooper and Tom Gathercole.
“After leaving my previous role I took some time to reflect on the key challenges I could see across the profession,” said Mark.
“Almost all of them could be solved by good software, but software for auditors was all desktop based, dated and required big up-front investment in both licences and specialist development.
“After speaking with a former colleague and a specialist developer, I knew we had the combined skills to use cloud computing to provide an alternative.
“Inflo was borne out of this gap in the market to provide an affordable and easy to adopt software solution which is accessible for mid-tier and independent firms.
“Our product and the level of support we offer our customers is truly unique to the market; we have no direct competitors and within our first year of trading we have grown a substantial client base.
“We anticipate explosive growth over the next three years and are well placed to lead significant change across the global accounting market.”
Inflo provides affordable data analytics and automation software for accountancy firms, allowing them to collect data from client finance systems such as Sage, Navision orXero.
The software then automates significant elements of services such as external audit, making the process more flexible and providing sophisticated data analytics dashboards to both auditors and their clients to assess financial performance and effectiveness.
The company launched the product at an Institute of Chartered Accountants in England and Wales event in London.