X-Tract is a platform that helps organizers of sporting events to improve the safety of their races, thanks to a mobile application distributed to all participants, enabling first-aiders to intervene much more rapidly in the event of a problem on the course.
Do you have any particular knowledge of finance?
Not at all, my background is more technical - I'm a developer by training. When I set up X-Tract, I had to learn how to deal with all the other areas, including finance, and in particular cash flow management and forecasting.
How did you manage cash flow before Fygr?
Before Fygr, I didn't manage it, or not necessarily very well. I used an Excel spreadsheet, which I tried to keep up to date as best I could.
How has Fygr changed your daily life?
It may sound anecdotal, but I feel more confident about managing my cash flow. I think it's important as a business owner to feel confident. Before, it was a grey area, I didn't really know where I stood. Now I know it's under control. If I have a question about my cash flow or financial management, I go to Fygr, have a look, and I've got the answer.
What is your relationship with Fygr support?
On a very positive note, I've always had a very good point of contact with Fygr support. Whenever I have questions about how the product works, or even suggestions to make, we're always quick to set up a videoconference to discuss things.
What are your favorite features?
On the one hand, there's a past and present cash management section, where the idea is to know today what my expenditure items are, and where I stand with regard to the way I manage my business.
Then there's the cash flow forecasting section, which I also really like; again, divided into two parts. There's a part where I'll put in my various expenditure items that are validated. For example, an employee's salary, a SaaS subscription, etc. I configure them, and they are projected onto the cash flow forecast, so that I can easily understand where I'm going.
Finally, there's the last part, the forecast scenarios. Let's say I want to recruit someone, or plan to get a certain grant. With the Scenarios module, I'll be able to check or uncheck this line of future expenditure (or income), and therefore very easily visualize the evolution of my cash flow forecast according to these different events.
For me, with Fygr, all these functionalities are important: past-present management, certain future management, and uncertain future management with scenarios.
Why would you recommend Fygr?
I would recommend Fygr - and I recommend Fygr to the entrepreneurs around me! - because I think it's super accessible: anyone can get started very easily, there's a very simple entry cost, and the benefits are there very quickly!
