Accountancy firm teams up with money-saving app to help ease cost of living fears

A Derby-based accountancy firm has partnered with an app provider which claims to save companies an average of £1,851 on their bills.

Vibrant Accountancy has teamed up with Reducer in an effort to ease the effects of the cost of living crisis at a time when individuals and businesses are feeling the pinch.

The app links with cloud-based accounting software Xero and Quickbooks and analyses client bills, saving businesses money on utilities such as electricity, gas, telecoms and fuel.

Vibrant, which is based on Lodge Lane in Derby city centre, has introduced the money-saving app to its clients and says it is keen to introduce more to Reducer over the next year.

Head of accountancy Emma Vicars said: “We first heard about Reducer app at the AccountEx exhibition in London, where our co-founder Bev Wakefield was a guest speaker.

“We were both so impressed; it’s simple to use, comes at no extra cost to our clients and could, potentially, save them hundreds of pounds on their outgoings.

“We’re all aware of how much the cost of living is rising at the moment – in particular when it comes to the cost of our electricity at home and also in the business. For businesses and business owners, however, there are no price caps and cooling-off periods available to support them from rising energy prices, unlike in the home.”

On average, UK businesses are wasting £7.6bn on their bills each year.

Vicars added: “Our industry is ever-changing and it’s great to hear of advances in tools and technology – like Reducer – that are shaking it up and helping to improve the sector further.”