31st Aug 2016 09:53
LONDON (Alliance News) - Arria NLG PLC on Wednesday said it has launched a software-as-a-service business reporting tool that will provide customers with instant financial insights that are expressed in "plain language".
The data analytics and information firm unveiled the public beta launch of Recount, an artificial intelligence product that will be used by small- to medium-sized business. It has been designed to work with large online accounting systems such as Xero, Quickbooks and Sage.
"Recount literally tells you what is happening in your business. It is exciting to be at the start of this growth journey with Artificial Intelligence for small and medium sized businesses. Quickbooks' SaaS service alone has over 1.5 million users worldwide, with Xero on 700,000 and growing fast. We believe that both Quickbooks and Xero users will see Recount as a way to turbocharge their existing process," said Sharon Daniels, chairman and interim chief executive of the company.
Arria said Recount will include a free healthcheck report which will offer interactive charts, detailed sales, cash, expenses and receivable reports, simple sales forecasts and a Word export function.
Recount has been integrated into Xero's offerings for release in Australia and New Zealand, and will be available for Xero and Quickbooks in the US by December, with more integration partners to come, it said.
"Recount provides users with natural language narrative, interactive charts, detailed reports on sales, cash position, expenses and simple sales forecasts; all able to be exported to Microsoft Word and available for as little as the equivalent of GBP20 per month," said Arria.
"This is a key milestone in our journey to expand our product offerings and develop ongoing recurring revenue models for our patented NLG technology," added Daniels.
Arria shares were down 1.3% to 13.82 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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