For any business, making sure they have got enough cash in the bank is a stressful, time-consuming and expensive job even at the best of times. The Covid-19 crisis has made this an absolutely critical task, as businesses fight to survive in these most unusual circumstances.
Having an understanding of what future cashflow looks like, while being able to react quickly to changing market conditions, could be the differentiator between thriving and surviving as businesses navigate the new normal and the potential impact of Brexit over the course of the next few years.
Many smaller businesses have very limited experience of preparing cashflow forecasts, having focussed primarily on their day-to-day accounting and compliance needs. Fortunately, many of those same businesses are turning to the cloud to enable them to automate their accounting tasks, using software like Xero, with its built-in bank feeds, and data capture tools such as Receipt Bank.
Fluidly is an award-winning cloud cashflow forecasting software, which allows businesses to manage cashflow more effectively, giving them confidence, certainty and control over their financial future. It connects directly to accounting packages such as Xero and QuickBooks Online.
We highlight below some Fluidly’s main features and benefits:
See cashflow in real time
Fluidly’s AI-powered software can sync with existing accounting software to analyse past and current transactions, and spot patterns. It can then produce accurate and up-to-date cashflow forecasts in minutes which can be tailored as necessary.
Instant access to what cash is coming in or going out without the need for financial modelling or extensive knowledge allows businesses to remain in control of their finances at all times.
Get paid faster
Fluidly intelligently breaks down the cashflow transaction by transaction, showing all outstanding invoices and late payers in one place.
Through the easy-to-use app, businesses can dig into areas of cashflow weakness, and quickly follow up with customers to collect fees.
Make better business decisions
Fluidly’s goal planner feature enables the development of a range of scenarios, which can be tested against cashflow. It continuously monitors the finances to spot cash crunches early, ensuring there are enough funds to make critical payments, such as payroll.
Additionally, the software provides, personalised insights and recommendations upon login, helping the business to identify what to do next to manage and optimise their cash.
We have significant experience working with our clients on cloud-based solutions such as Fluidly. If you think this product could be right for you, please get in touch to discuss your options.