Mr Higgs adds: "Investment providers that can work with or deploy their own software on this basis and accept smaller ad-hoc contributions on a more regular basis are ideally placed to support such clients save in a way that better meets their needs."
Building on this, Mr Andrews believes technology could and should be used more widely by providers and advisers to help the self-employed build up a fair and accurate picture of their own financial situation, and from there to guide and inform them about what savings and financial products they might need.
He comments: "Interactive cashflow tools can provide a powerful and visual way of presenting an individual’s complete financial position, to identifying savings shortfalls and potential protection needs.
"These type of tools should allow a range of options to be built, demonstrating the effects of certain 'what if' scenarios could have on the individual due to loss of business income, or through long-term illness or injury.
"This type of detailed planning can allow individuals to make some key decisions in conjunction with their adviser, and enable them to monitor on a more regular ongoing basis, online in client portals, or through co-browsing sessions."
He welcomes the move towards Open Banking (PSD2), which he believes will enrich interactive cash flow planning tools with real-time data feeds to ensure they are accurate and up to date.
And, as these tools become more client-facing, across all devices and tablets, the entrepreneur who is always on the move will be able to get monitoring and alerts to help them manage their ever-changing circumstances.
According to Mr Andrews: "The rise of artificial intelligence (AI) will also become more widely used to support individuals with their savings and retirement goals, monitoring the individual’s financial situation in real-time (using Open banking), making suggestions against their goals, increase tax-efficient savings, reduce outgoings, providing education and market commentary. The options are endless."
Good habits
But while the world waits for the sort of technological advances that open banking will bring, there are things individuals can do to help get themselves saving more, and more frequently.
One of those is just to start putting a little away on a regular basis, and making this a habit.
According to Mr Stewart: "For me, personally, being self employed from the age of 21 actually made me a better saver. I would squirrel money away at every opportunity in anticipation of there being some unforeseen event that might mean my income could dry up.
