Simplex Financials, specialists in technology to help small businesses overcome financial hurdles, has announced the acquisition of Elevate Financial Training. Elevate Financial Training is a leading provider of financial training courses centered on improving businesses’ cash flow and profitably.
Simplex Financials Launches Snopsis
The acquisition has resulted in Simplex Financials’ developing its platform and officially launching Snopsis. Snopsis is the first ever social financial collaboration platform for small businesses.
Making Strategic Financial Decisions
By analyzing a company’s financial data, Snopsis assists small businesses to make informed and strategic financial decisions. The platform connects a business’s financial details with non-financial actions. This provides business owners with greater understanding of issues that arise within the data.
In these turbulent, testing times, it is more important than ever that small businesses have access to the right data. Having correct information at their disposal, small businesses are likelier to make better decisions. By the same token, they are less likely to make mistakes.
Standard Business Dashboards Fail to Make the Grade
Mike Milan, President of Simplex Financials, commented on the benefits the platform will bring to small businesses:
“As good as the standard business dashboard is, it simply does not work for today’s small business owner – they need something that works when and where they do. Snopsis will give a small business owner the right information, from the right people, at the exact right moment,” Milan said in a press release.
Simplex Financials notes how around 90% of small business startups fail. Most startups fail due to a lack of the right skills, tools, and resources, and a penchant to focus on money.
Identifying Potential Business Problems Through Data
The Snopsis platforms aims to overcome such hurdles by identifying potential issues quickly through detailed metrics. The detailed data also provides insight on opportunities that may be in the pipeline for small businesses.
Making Important Business Decisions
Simplex Financials’ new Snopsis platform integrates data from accounting software. The information is analyzed and notifications are pushed out to users. Subsequently, teams can collaborate, discuss data-driven notifications, and make vital business decisions in real-time.
The Snopsis Platform is due to be released for beta by mid-September 2020. Integration of the platform into Xero, QuickBooks Online, and Sage will be rolled out around the second quarter of 2021.