Profit First Announces Partnership with Relay

A new partnership between Profit First Professionals and Relay was announced yesterday, making Relay the official banking platform for Profit First. Profit First is a behavior-based cash management system that teaches business owners to allocate funds to multiple bank accounts to better manage their cash flow and ensure profitability. Relay, as part of the new partnership, introduced a new feature - auto-transfer rules - that will allow those following the Profit First methodology to automate their transactions according to the system guidelines.

More about Profit First

Profit First Professionals was co-founded by Ron Saharyan and Mike Michalowicz in 2014 based on the principles outlined in Mike's book Profit First to help accounting, bookkeeping, and business coaching firms learn and implement the methodology in their firms and their clients. It is a membership-based organization of Profit First certified coaches and trainers who work with organizations to implement the system into their business operations. 

The approach instructs business owners to distribute their revenue across various checking accounts, such as Profit, Owner's Pay, Taxes, and Operating Expenses. The idea is that this enables them to effectively oversee their cash flow and secure lasting financial success. 

More about Relay

Relay is a business banking platform powered by Thread Bank that shows business owners what they're making, spending, and saving. It works perfectly with Profit First because business owners can open multiple free checking accounts, make transfers based on a percentage, and, starting now, have Profit First allocations done automatically. "3,000+ Profit First users already depend on Relay for banking. It’s because Relay makes it easy to put the Profit First method into action—and stick with it," said Relay's Co-Founder and CEO, Yoseph West.

Relay announced that it is not only introducing new features but also becoming a Profit First Certified firm to better support entrepreneurs and their customers.