SMB Financial Service Firm Sage Acquires Futrli

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Sage, a technology provider for accounting, financial, HR and payroll departments at small- to medium-sized businesses (SMBs), on Thursday (May 12) said it had finalized its acquisition of U.K. cash flow forecasting software platform Futrli, in a company press release.

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The deal allows Sage to offer proposal-to-advisory services ahead of the transition to Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA), the press release said. Futrli focuses on helping growing businesses understand cash flow with data-driven three-way forecast financials (profit and loss, balance sheet, and cash flow) using propriety prediction algorithms.

The algorithms are based on data-analyzed historical trends, bringing together direct and indirect forecasting methods, using invoices, bills, journals, cash and payment data, according to the Sage press release.

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As part of the acquisition, Futrli by Sage will be integrated with Sage for Accountants, giving accountants access to per-client pricing and combined workflows. Futrli by Sage will be available to SMBs as a standalone product.

Related: FinTech Brex Expands Its Capabilities With Acquisition of Financial Planning Platform Pry

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Last month, Brex, which provides financial software and services to startups, acquired Pry Financials, a financial modeling platform that offers Excel-like applications, to simplify financial forecasting, budgeting, hiring and modeling cash-flow, for $90 million.

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