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Business Technology

Better Forecasting And Insights With Spotlight!

By November 2015November 18th, 2020No Comments
Beyond Accounting advice Better Forecasting And Insights With Spotlight

Spotlight is a new software company based in New Zealand. It is very much associated with Xero, as well as Xero’s continuous growth, and at Beyond Accounting we believe that Spotlight is looking at a very bright future! Spotlight is a reporting and forecasting tool. It’s a useful piece of software for management reporting, board reports, cash flow forecasting and it also proves very effective when dealing with more than one company, as it allows you to combine results. If you have your bookkeeping and Xero accounts in order, Spotlight will absorb this information and enable you to produce exceptional reports in a smooth and convenient way. At present, businesses are using spreadsheets for this type of work. Spreadsheets are OK, but they’re very limited. You tend to end up with various different versions, formula errors, plus the fact that a lot of work needs to be done to keep information updated. Spreadsheets are labour intensive and, for me, a thing of the past.

No more spreadsheets

Spotlight is much more practical in comparison to spreadsheets. Beyond has signed up with Spotlight and have become their first full partner in Ireland. They’re actively operating in the UK and we deal with the UK management team on a regular basis. As partners, this enables us to sell our clients Spotlight’s products and also allows us to train clients to get the most out of these products. We think it really adds to our business, and yours, and are confident that Spotlight will be successful in the future. They have already received a great deal of interest due to the innovative nature of their software and they are steadily becoming an exciting prospect for the future. We recently received a report informing us that Spotlight has released their most recent version of the forecasting tool. Forecasting can be troublesome and it can become increasingly difficult when forecasting your profits, and particularly your cash. There are few products that address this issue, but Spotlight has produced a fine piece of software that makes the process that bit easier.

Smart forecasting

Spotlight gauges what tax rates you’re going to apply, what salary scales will apply in the future and puts a time scale on how long it will take to collect debts. Spotlight will also accumulate your budgetary figures, demonstrate how your cash flow works, and it can run various different scenarios that packages them very conveniently into a report. These reports can then be sent via email in PDF format, along with infographics. The most recent version of Spotlight has established a plain sailing approach to forecasting and is filled with new features. It’s a very practical tool for Ireland and it’s getting traction from some big companies. We’re currently working with a company that has subsidiaries in the UK, USA, Canada and Ireland. We report through Spotlight and have all four subsidiaries transferred from Xero across to Spotlight to show consolidated pictures of their predicted results and cash flow forecasts for the next two years. We want to spread the word around Ireland regarding Spotlight’s development, because we believe that it will mirror the success it’s received in the UK. It is a very exciting prospect and we at Beyond want to be part of their success story!

If you’re interested in using Spotlight, give us a shout. We can help you get set up and train you to get the most out of forecasting. Get in touch today.