FinTech Spotlight: How Unleash Puts Your CFO in the Cloud
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FinTech Spotlight: How Unleash Puts Your CFO in the Cloud

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Unleash is a new app that hopes to be a cloud-based CFO for small business owners. The app purports to be written by small business owners for small business owners and promises to provide critical financial information tailored to the needs of a small business.  The app integrates with QuickBooks and Xero so you can import your books and start crunching the numbers.

Essentially, the crux of the app is to help business owners make financial decisions better and faster.  QuickBooks and Xero can provide cash management analytics on their own, but you really need a full course in how to make these programs do what you want.  Unleash aims to take the guesswork out of that by letting you set up task reminders, financial goals and see where you might have unnecessary expenses.

Once you add in your financial data, the app sets up a dashboard for you pointing out where you’re making money and where you might need a little bit of help.  This also includes payments from customers – app users will be able to make sure that no one falls behind on a payment because an alert will pop up in the dashboard window (a great way to enhance your receivables performance management).

Interestingly, the app can also help you compare your own financial performance against that of your peer group. There are presentations of the median performance of anonymous but similar cohorts of businesses allowing you to get a sense of where things are. If you’re a MailChimp user, it is a feature similar to that application showing how your email open rate stacks up against your industry.

The dashboard itself is pretty user friendly, all of the important metrics are presented up front in terms of cash on hand, profits to date, and any goals registered in the system. Once you check off a task or an area of expense analysis in the task manager, it will disappear until you need to deal with it again.  If you set up financial goals you can also chart out how saving for these goals will impact your business over the near term and also keep a tally of how close you are to achievement.

Beyond late payments, the cash flow optimization tool can also help you get a sense of how close you are to financial goals and how you might best handle delinquent accounts to get even closer.  Unleash is also working with business experts to share thought leadership to the user community and provide ideas about how to grow a business.

Unleash is cloud based, so users won’t have to worry about storing too much data on the application – it will scale with you. The app itself was just launched a few weeks ago, so not many user reviews or other data is available online, but it appears that the team is interested in working closely with new users and making sure they’re getting the most out of the experience.  Additional features appear to be in the pipeline for later release.

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