Do you have any particular knowledge of finance?
Not at all. My background is more technical, as I trained as a developer. When I set up X-Tract, I had to learn to work in all the other fields, and in particular in finance, and in particular cash flow management and forecasting.
How did you manage your 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?
This 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 great 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 video-conference to discuss them.
What are your favorite features?
For me, Fygr is a bit chronological, temporal. 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'm going to put my various items of expenditure that are safe. 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 obtain a certain grant. With the Scenarios module, I'll be able to check or uncheck this line of future expenditure (or income), and thus very easily visualize the evolution of my cash flow forecast according to these different events.
For me, on Fygr, it's all these functionalities that are important: past-present management, certain future management, and uncertain future management with scenarios.
Why would you recommend Fygr?
I'd recommend Fygr - and I'd 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!
