Financial software firm aims to cut business closures

Amron D was founded by two sisters realising their father's passion project

Sisters Diana Whelton and Hazel Buckley who co-founded financial software firm Amron D.

A NEW Cork firm is aiming to prevent the 80% of businesses that fail due to bad financial planning from going under. 

Sisters Hazel Buckley and Diana Whelton have launched Amron D, a software firm that uses artificial intelligence to help businesses with financial forecasting. 

"For many companies, especially entrepreneurs and small businesses, their financial literacy is often a weak link in an otherwise excellent business model or idea," Hazel said. "Regularly it gets pushed to the bottom of a to-do list as a result of these individuals or organisations being time-poor and feeling overwhelmed when it comes to forecasting."

"Forecasting is often required for grant applications and investment funding, but year-round it is an extremely beneficial process which puts you in control of your business. It allows you to quickly pivot, work through ‘what if’ scenarios such as hiring a new staff member or changing a raw materials supplier. 

"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."

The pair created the company in honour of their father. Amron D was the brainchild of James O’Sullivan, who passed away in 2018. Joining forces with business partner Aonghus O’Heocha, they have now made their father's project a reality.

Amron D is supported by Enterprise Ireland and has undergone Beta testing with several Irish companies and accountants of different scales. Richie Lennon, EI Mentor and tutor on the EI New Frontiers program said: "I see a major opportunity in the start-up world for Amron D's system and can really see start-ups using the platform."