August 28, 2015

Fund Cog Makes The World Go Round

Turnover is high, and you're turning a nice profit, thank you very much, but somehow or other it isn't adding up on your bank balance. Even worse, you're squeezed for cash and the task of balancing the demands of creditors with slow payments from customers threatens to put you out of business. They say money makes the world go round, and if that's true, then the want of money can stop your world spinning fairly abruptly.

The Moneyspinning Accountant

This nightmare scenario prompted this week's Kickstart Your Business featured guest Garret Carragher to dream up a new service, Fund Cog, which aims to get the wheels of finance turning round again. As a management accountant working in the Irish multinational space, Garret saw the importance of cash flow as the lifeblood of the business.

He also saw that many SMEs struggled to link the various financial systems that supply money into and out of the business, resulting in some of them going to the wall. And so he determined to put that right, by setting up a service that seamlessly integrates with your financial software and manages both credit control and funding for your business.

Man & The Machine

Both George and Gerard reckoned Fund Cog to be a great idea, but Gerard wondered if Garret needed to do more to address a typical customer concern around the sometimes delicate relationship between a business and its customers, particularly when it comes to collecting money. But Garret reminded us that Fund Cog combines an effective online system with a team of expert financial controllers who can judge the best balance of actions required to make sure you get paid.

What Do You Reckon?

What more can Garret do to make his man and the machine service more attractive to both business owners and their accountants and bookkeepers? Listen back to Garret on Kickstart Your Business and let us know what you suggest.

We'd love to hear from you.

Kickstart Your Business is broadcast live on The Right Hook on Newstalk 106 in Ireland every Thursday at 6.15pm, and is available to listen to on Playback immediately afterwards.

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