Financial technology startups Huumans and Quota have announced that they are seeking investment to expand their operations and add more functionalities to reinvent how accounting services are delivered to small and medium businesses (SMBs) in today’s business climate.
Huumans and Quota were both founded by veteran accountants Richard Landzaat and Bill Murphy. Richard also established innovative accounting and fractional CFO firm Summa Financial while both Richard and Bill are serial entrepreneurs. Together they were involved in another successful fintech startup helping SMBs.
Huumans is an accounting technology platform that builds an ecosystem encompassing financial services and other mission critical services vital for the success of SMBs. It significantly changes the scope of how business owners can interact with their financial data by allowing them to access it on a weekly basis. This eliminates the need to wait for months for the financial statements, giving them a more comprehensive view of their business’ finances and allowing them to take quicker action, if needed. According to Landzaat, the Huuman touch bridges the gap between technology and people through leading-edge communication and data capabilities. The accounting platforms, with Huumans interaction, helps SMBs pay employees and contractors on time, makes filing business taxes easier, and helps them avoid costly mistakes and penalties.
Meanwhile, Quota is an app that connects to the Huumans platform and takes data from several of the most popular cloud accounting programs. It enables SMB owners to make smarter business decisions through its dynamic AI capabilities and financial reporting dashboard, acting as a virtual co-pilot for SMB owners and the accounting and advisory firms that work with them. Quota allows users to view trend forecasts and industry comparisons so SMBs can make critical decisions. Through AI, vital data insights is also enabled by smart budgeting which predicts 12 month forecasts. With real-time information access and smart budgeting it enables businesses to move forward with clarity.
Quota creates a predictive model that allows SMBs to see their sales trends, and, in the future, it will be able to create more in-depth comparative analysis once it is able to gather a sufficient amount of data from more businesses. Huumans will also help SMBs access various financial products that were previously only available to larger businesses, such as employee benefits plans, insurance, and other services. Landzaat says Quota will be able to create a ranking of businesses’ financial performance in a particular industry or geographical location, which can be helpful in taking out loans, allowing lenders such as banks to see how healthy a particular business is, which will help determine whether the bank should lend money to the business.
For public accountants, the Quota app can create a dashboard that allows them to see the financial health of all their clients, allowing them to identify which businesses are trending downwards and proactively contact them to conduct corrective action.
“The future is all about data. We are seeking investment for Huumans and Quota, two innovative products that show the potential to reinvent how businesses approach bookkeeping. Our digital ecosystem and app ensure that SMBs, accountants and other advisory firms have access to the most up-to-date, readable, and concise data, in order to make the best decisions for the business,” Landzaat says.
Media contact:
Name: Richard Landzaat
Email: [email protected]
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