Oh no, we blinked. 2022 is over already!
As we bid farewell to another year, we’d like to take the opportunity to reflect on what Inflo has delivered in 2022, and what we aim to focus on in 2023.
One of Inflo’s six core values is:
So, let’s see how we’ve done…
Very early in 2022, Inflo completed the full release of our new data analytics module: Inflo Treasury.
Inflo Treasury provides a secure, effective, and cost-efficient method for auditors to support the bank confirmation process, while also providing valuable analytics on banking transactions.
Inflo Treasury uses an open banking integration to securely extract client bank account information, point-in-time balances, and transactional detail directly from the client’s banking platform into Inflo. We were extremely proud when it was voted Cloud Initiative of the Year at the 2022 International Accounting Bulletin.
Mid December saw the international deadline for the implementation of ISQM1, ISQM 2 and ISA 220 revised. Inflo is proud to be well ahead of this, as all the way back in February we announced the release of our Quality Management System, Inflo QMS.
Inflo QMS is designed to assist firms in implementing and maintaining a system of quality management. It simplifies the process, saves time, and provides confidence over quality and compliance.
Loved by our early adopters and praised and supported by professional accounting bodies globally, this additional product has really hit home with firms aiming to bring to life the theoretical goals of the new quality standards.
In fact, it has been viewed so favourably by accounting bodies worldwide, that CA ANZ have partnered directly with Inflo QMS to support CA ANZ members in the adoption of a system of quality management as required by the new quality management standards.
At Inflo, we’re proud to innovate and to solve future problems for accounting firms. However, we always ensure we complement this innovative nature by listening to our current customers and the challenges they are facing today.
Inflo enables this through our in-platform “Suggestions” feature, where any Inflo user (employees of accounting firms or end clients) can recommend an improvement to any part of the product and have these voted on by fellow professionals from around the world. The most popular suggestions are then focussed on and delivered by our development team.
This year, of the 145 individual features that Inflo released, 47 of these were from these suggestions. That means on average we released one new feature every 1.7 working days, and one new suggestion every week throughout the year!
Everyone loves splashy new features, but when push comes to shove, speed and performance make up the foundation of a best-in-class product experience.
One of the biggest challenges with web-based interfaces is the ability to make huge data sets immediately dynamic. However, Inflo has tackled this issue head-on in the past few years, with our largest ingested data set totalling over 110 million rows of general ledger data. In 2022, we further improved our internal proprietary technology to be able to handle large data sets even more quickly in our data analytics modules like Inflo Explore and Inflo Revenue Cascade.
More widely, we’ve also been focusing a lot of effort in the past 12 months on making our average response times for all requests even quicker. In the past 30 days, Inflo’s average response time is 179ms per request. For websites, the recommended benchmark is between 100ms and 1000ms (one second). We are proud to be on the favourable end of that scale, especially given that those numbers include loading complex graphs based on millions of rows of data! We’ll continue to focus on our reactive front-end technology framework to make this even quicker going forward into 2023.
So, enough about what we think about Inflo. What do you think?
Well, our NPS score for the final quarter of 2021 was 40, which puts us around the average score for Software & Apps:
However, with heavy focus on the features and improvements outlined above, alongside our friendly and helpful Customer Success team, our NPS score has increased steadily over the course of 2022 and Inflo now stands at 55!
According to data from UserPilot this puts us equal with the industry leader in Software & Apps, FlipBoard.
That covers our 2022 roundup. But, what can you expect from Inflo in 2023? Inflo Academy? Accounts Preparation?
Want to know more? Then join us at Inflo Cognition in early January 2023 to find out.
