Anna Olley is one of three directors of the Wise Owls Nursery, a private daycare centre that joined Float in late 2016.
The nursery opened in 2015 and, initially, all the business’s finances were done in Excel. Word quickly spread in the local area, and more children joined. As the nursery’s turnover dramatically increased, so too did the amount of time Anna was spending in Excel.
Anna signed Wise Owls up to Xero in October 2016 and shortly afterwards heard about Float. She decided to sign the nursery up for a trial, and has been a devotee ever since.
Anna said: “Our expertise is in childcare and education, not business or accounting. In the early days of our business, Excel did the job, but as we grew it became a nightmare. As a new business we have limited credit and a small overdraft, so it was essential to forecast our cash flow correctly.
“Float it pulls everything in from Xero, and I don’t need to manually update anything. It helps me to predict problems four or five months down the line; I’m completely confident in the data it has from Xero, and I take its predictions seriously.
Trimming operating expenses with Float
“By using Float we’ve been able to trim our expenses, negotiate better deals and rates and identify areas in the business that could be improved. For example, we realised we were spending a massive amount on our food budget and that was leading to a lot of wastage: we searched for a better deal to suit our needs and now we save £300 per month, which adds up to £3600 a year!
“I used to spend at least an hour a day updating Excel, now I leave Float to crunch all our cash flow data and I can focus on my real interest: welcoming children into a stimulating, friendly and creative nursery that makes them happy, confident and prepared for the next stage of growing up.”
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