Summary Description

• Intelligent software accumulating core SME ledger data to create cash flow/P&L and balance sheet charter of accounts in a standardised format
• Effectively “OEM” supplier to accountants, banks and other financial service intermediaries to enable them to
  
  • reinforce their customer relationships
  • make credit underwriting decisions easier and faster
• UK based, but with revenue from clients in Canada, Ireland and prospectively US and Continental Europe

Opportunity/Investment Thesis

• Financial services providers (accountants, banks, etc.) increasingly need to trade off desire to serve SMEs with the actual and opportunity cost
• Provision of appropriately constructed data in standard form helps provide cost effective service to intermediaries (e.g. credit underwriting; audit services; etc.) while providing SMEs with automated tools enabling them to control amount of data release and scope (‘walled garden’ for designated providers)
• Increasing recognition that intelligent software can substantially reduce the cost of intermediation