Member Article

Newcastle’s Pink Boutique signs up to PwC’s My Financepartner

Newcastle based Pink Boutique has signed up to PwC’s recently launched cloud-based accounting service My Financepartner, to support the company’s continued growth and international expansion.

The fashion retailer was set up by 26 year old Alice Blackie in 2012 with just £90, and over the last two years has grown internationally, selling over 2,000 dresses a day. The business operates from a 30,000 sq ft site in Newcastle and ships its products across the world.

In its first year the company turned over £600,000 with sales predicted to reach a seven figure sum within the next 12 months.

It has signed up to cloud-based accounting tool, My Financepartner, which PwC designed specifically for fast growing SMEs. The service offers a qualified and commercially focused accountant who can act as mentor and adviser, as well as powerful and instant management information online.

Explaining why Pink Boutique signed up to the service, founder and CEO, Alice Blackie, said:“Pink Boutique has seen phenomenal growth over the last couple of years, which we’re aiming to continue as we expand into new international markets. We had an overwhelming need for a flexible accounting interface and are really excited about PwC’s user-friendly module.

“We can customise fields to show our KPIs in a visual way, with colour-coded charts and even marketing ROIs. Gone are the days when we’ll have to wait weeks to see where we’re at with our cashflow; My Financepartner will enable us to access valuable information in real time on our ipads when we need it - and if we have any questions, we have the security of a qualified mentor on the end of the phone.”

Peter Kelly from PwC’s my Financepartner team in Newcastle, said: “My Financepartner creates a new way for businesses to engage with accountants, enabling them to spend more time growing their business. Pink Boutique is exactly the type of innovative, fast growing business that will benefit from what My Financepartner offers.

“The management team will now be able to access the accounting support they need, when they need it, and sophisticated management information which will deliver the necessary insight for planning for future growth, without being tied into long term contracts.”

Recognising the challenges growing small and medium sized businesses in the region and across the UK can face in accessing alternative funding sources, PwC has also joined forces with two innovative and market leading organisations: Funding Circle and MarketInvoice.

The move marks the next stage in the evolution of alternative finance, which has become an established part of the financial services landscape.