TWO Irish sisters have fulfilled the dream of their late father by co-founding a firm which uses Artificial Intelligence-software to allow businesses to secure future financial planning.
Hazel Buckley and Diane Whelton co-founded Amron D, based in Cork, to achieve the brainchild of their late father, James O'Sullivan.
Now, the firm is anticipating major expansion as it brings to the market a special software package allowing businesses a simple way of financial planning - with 80pc of businesses failing because of their inability to secure proper financial forecasting.
Hazel and Diane said they are "overwhelmed" at making the dream of their late father come true.
“Words cannot express how thrilled we are to finally officially launch Amron D to businesses across Ireland," Hazel said.
"Amron D was the brainchild of my father, James O’Sullivan, who was a chartered accountant, software developer and entrepreneur. Having established numerous businesses over the years, and being frustrated by the functionality and expense of existing forecasting tools, he identified an opportunity in the market for a financial forecasting software system that would be quick, accurate, easy to use and affordable."
"Sadly, Dad passed away three years ago in 2018, before he could see his vision realised."
“With my degree in computer science, my sister Diana and I joined forces with our business partner Aonghus O’Heocha, to make our dad’s passion project a reality in his honour and memory.”
Co-founder Diana Whelton said it was exciting bringing Amron D to fruition.
"We couldn’t be prouder with the tool we have created. Amron D gives power back to entrepreneurs. It does all the heavy lifting so that you, or an external accountant, don’t have to."
"If the Covid-19 pandemic showed us anything, it was the importance of companies having the ability to pivot quickly, and financial forecasting allows you to do just that.”
Amron D is supported by Enterprise Ireland, has a patent pending, and undergone months of robust Beta testing with several Irish companies and accountants of different scales.
Aonghus O’Heocha said the firm's product has enormous potential.
“Our user interface has been built with a start-up in mind, not an accountant. It is intuitive and designed to create a calm and stress-free environment to work."
"Without any financial experience, in just three easy steps you can build your first forecast. The dashboard provides you with an at-a-glance overview of your finances, while our detailed reports are available in various layouts from graphs and charts to tables, in order to accommodate different preferences for consuming data.”
The firm offers three separate software packages for start-ups, micro businesses and a pro version to be launched later this year for accounting professionals and larger businesses.
Uniquely, the software allows firms to "what if" scenarios for their business - ranging from future recruitment to expansion plans.
Until now, firms have had to rely on accountancy firms for future forecasts for their businesses. Being able to undertake such forecasts in-house and at an affordable cost is a major advantage for firms.