Any small business needs to prioritize its cash flow. Keeping on top of one’s finances is increasingly critical for entrepreneurs, regardless of market conditions.
Managing cash flow can be challenging when you have many things to do.
Change in customer demands, market behavior, and seasonal trends can also influence cash flow. As a result, they can affect your small business directly or indirectly.
These factors don’t have to overwhelm you. Several tools are available to help you manage cash inflows and outflows.
It is so much more than just counting the amount of cash in the bank. Essential forecasting tools can help you guide your decisions. You can also integrate many features, including functions that touch on all aspects of your business.
Why Do You Need a SaaS Tool for Your Business?
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Businesses succeed or fail based on their cash flow. But companies don’t know their current financial situation until they analyze their finances. A cash flow management program gives you a picture of the business’ health at any given moment in time. It also forecasts other scenarios that may be relevant.
Using a cash flow management tool can save a lot of time. You don’t want to be watching your money disappear from your account.
A great SaaS forecasting tool can help you with:
- Keep an eye on business health
- Forecasts of cash flow
- Task automation
- Boost cash inflows
- Cut down cash outflow
Following are a few of the best cash flow management apps for small businesses.
Scoro
Scoro is a broader tool that addresses all aspects of running a business. For example, among its many services is cash flow management.
The software is all-in-one, integrating budgeting, CRM, and project management.
Users are delighted with this platform’s reliability. You can keep track of your team members, projects, sales, and reports all in one place.
You can stay on top of everything with this toolset. Its features include
- Time management
- Business management
- Finances
- Projects and tasks
- Reporting and dashboards
- Client management
- Integrations
- Customizations
A mobile app is also available to help you manage your business.
Cushion
Over 400,000 small businesses in Singapore are sole proprietorships. The majority of these business owners are freelancers or manage their businesses.
Try Cushion if you’re a sole proprietor since it’s for freelancers who have a lot on their plate.
This tool will help you forecast your schedule and plan months in advance, even if your customers frequently change timeframes.
It gives you a complete picture of your entire year. In addition, it automatically detects available or overbooked dates.
Using this tool will also assist you in reaching your financial goals. This program adjusts your monthly financial goals throughout the year. It can be based on what you truly need to earn versus what you want to make.
Besides tracking invoices, you can also see patterns in your pay schedule while sending and receiving invoices.
The application also integrates with other tools, such as Xero, FreshBooks, FreeAgent, and Harvest.
Fluidly
Fluidly is a tool for managing cash flow for businesses. You can use it to keep track of cash flowing into and out of your business.
Fluidly’s webinar series provides accountants with practical insights. In addition, it can help clients manage cash flow, funding, and resources in the current market.
Float
Float is a management software that allows you to get a real-time view of cash flow. This tool can make it easier to make informed decisions about the future.
Unlike spreadsheets, Float produces more accurate cash flow forecasts that are always up-to-date.
Floats can notify you well in advance of any cash shortages or surpluses so that you can take action.
Direct cash flow forecasting can create detailed forecasts that are visual and easy to understand. As a result, it can provide a comprehensive picture of its future.
It’s easy to create visual scenarios with Float. Tasks that take hours in a spreadsheet can be completed in minutes. Identifying opportunities and making informed decisions are quick and straightforward.
Pulse
Pulse offers a highly rated tool for tracking cash flow. You can view cash flow daily, weekly, or monthly basis.
You can break down income and expenses by project or company. It also shows projections so you can visualize your spending.
It tracks cash flow and generates reports in different currencies as an added benefit. Other users with different account roles can also have different levels of access.
You can connect it to your Pulse account to see accurate projections if you have Quickbooks.
With Pulse, you can take a closer look at your income, expenses, and cash flow forecast to help you make smarter business decisions.
You’ll know when to hire more staff or make big purchases through the cash flow management features.
Spotlight Reporting
With Spotlight Reporting, accountants and bookkeepers have access to extensive reports and forecasts via the cloud.
You can create budgets, three-way forecasts and build scenarios with them.
It provides complete 3-way cash flow forecasting with flexible rules and excellent outcomes. In addition, they provide powerful Reporting and Dashboard tools. It offers comprehensive forecasting and reporting capabilities.
Aside from importing financial data, it can also build trend analysis using key business drivers. In addition, it can also gather surface KPIs and loan conditions to aid decision-making.
Concur
Concur’s reporting and forecasting platform provides comprehensive reporting and forecasting capabilities. In addition, it provides tools for invoice management, travel, and expenses.
Expenses can be submitted and approved anywhere. So, for example, you can capture travel expenses no matter where you book them and automate your AP.
By using their automated, fast, and accurate expense claims, you can simplify expense management. In addition, it makes it easier to track business expenses, especially when you are constantly on the road.
You can use this tool to generate expense reports and invoices when your employees travel for business. Then, you can view and audit these reports for optimal budget management.
Finally, this tool automates and improves your expense management process. You can easily capture receivables, spending policies, and expense claims. Accurate and timely data allows you to make better business strategies.
FUTRLI
FUTRLI assists entrepreneurs and accountants in understanding the financial status of their businesses. As a result, it can help manage cash flow and make intelligent business decisions.
Futrli has developed a white paper that contains step-by-step instructions. It can help their clients navigate. In addition, it includes software recommendations, email templates, and checklists.
Depending on the timeline of a business, each has different needs. Get an idea of which SaaS tool is right for you by checking out these apps. With these, you can then identify if you need a financial boost from a licensed lender cash mart like a Clementi money lender. Getting a cash flow management SaaS now is a necessity. Get the one that best fits your business needs today.