{"id":1564,"date":"2024-09-17T15:30:59","date_gmt":"2024-09-17T14:30:59","guid":{"rendered":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1564"},"modified":"2024-09-17T15:31:02","modified_gmt":"2024-09-17T14:31:02","slug":"the-value-of-cashflow-forecasting-for-your-business","status":"publish","type":"post","link":"https:\/\/accountants247glasgowsouth.co.uk\/?p=1564","title":{"rendered":"The value of cashflow forecasting for your business"},"content":{"rendered":"\n<p>Projecting your cashflow pipeline forwards is vital.<\/p>\n\n\n\n<p>To be able to navigate the future path of your cashflow, you need to start forecasting \u2013 so you can map out your financial position over the coming months and can take the appropriate action to safeguard your cash position.<\/p>\n\n\n\n<p>Plus, when you have access to detailed forecasts you can scenario-plan, search for cost-savings and look for strategies that will preserve your cashflow position.<\/p>\n\n\n\n<p><strong>Forecasting your future cash pipeline<\/strong><\/p>\n\n\n\n<p>Remaining in control of the cash coming into (and going out of) the business is the real focus, so you can accurately predict your financial position and can resolve any issues.<\/p>\n\n\n\n<p><strong>Key ways to get more from your forecasting<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Run regular forecasts<\/strong> \u2013 The financial landscape is changing on a daily basis at present. A cashflow forecast is not a document that remains static. Variables and external drivers are literally changing each day, so it\u2019s vital that you run frequent forecasts and react swiftly to any projected cash issues as they become apparent.<\/li>\n\n\n\n<li><strong>Use the latest cashflow forecasting apps<\/strong> \u2013 cashflow forecasting apps, like Fluidly, Float, Futrli Predict or Fathom integrate with your accounting software. They give a drilled-down view of how your cash inflows and outflows will pan out over the coming months \u2013 information that will inform and justify the decisions you make during these extremely challenging times.<\/li>\n\n\n\n<li><strong>Explore the right revenue streams<\/strong> \u2013 most sectors will have seen their sales change over the last 18 months. To overcome this, there\u2019s a real imperative to explore revenue streams and new opportunities for income. This could be offering a new product or service, or working with a new partner. The idea is to find ways to increase the money that\u2019s coming in the door and balance out your unavoidable expenses.<\/li>\n\n\n\n<li><strong>Get proactive with cost-cutting<\/strong> \u2013 if you can reduce cash outflows to a minimum, that will have a real impact on the health of your future cashflow. Pare back your operations and aim to reduce things like unnecessary software subscriptions, or over-ordering of basic supplies. Negotiating cheaper rates with suppliers, if possible, will also help.<\/li>\n\n\n\n<li><strong>Review your staffing needs<\/strong> \u2013 it&#8217;s never great to make anyone redundant, but you can also look at ways to reduce the costs of staffing and resourcing without getting rid of staff completely. Reducing working hours or redeploying staff in different roles are all options that reduce payroll costs, while also looking after your staff.<\/li>\n\n\n\n<li><strong>Run a variety of scenarios<\/strong> \u2013 changing the financial drivers in your forecast model allows you to scenario-plan different strategies and options. Many of these will be in a long-term plan once conditions improve. Scenario-planning lets you answer questions and will give you some hard evidence on which to base your decision-making and strategic outlook over the coming months.<\/li>\n\n\n\n<li><strong>Look at various ways to access funding<\/strong> \u2013 if forecasts show a giant cashflow hole coming up, you\u2019re going to need additional funding to get through this crisis. We can assist your business to investigate funding opportunities from grants, banks, loan providers, alternative lenders and crowd-sourcing funders.<\/li>\n<\/ul>\n\n\n\n<p><strong>Talk to us in Glasgow about setting up cashflow forecasting<\/strong><\/p>\n\n\n\n<p>Forecasting is an important step to give you the business intelligence to support your decision making.<\/p>\n\n\n\n<p><a href=\"https:\/\/accountants247glasgowsouth.co.uk\/?page_id=620\">Get in touch<\/a> to improve your control over cashflow.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Projecting your cashflow pipeline forwards is vital. To be able to navigate the future path of your cashflow, you need to start forecasting \u2013 so you can map out your financial position over the coming months and can take the appropriate action to safeguard your cash position. Plus, when you have access to detailed forecasts [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard"},"jnews_primary_category":[],"footnotes":""},"categories":[58],"tags":[80,138,85,76],"class_list":["post-1564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-accountancyservices","tag-accountants247-glasgow-south","tag-cashflow","tag-glasgow"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The value of cashflow forecasting for your business - Accountants247 Glasgow South<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/accountants247glasgowsouth.co.uk\/?p=1564\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The value of cashflow forecasting for your business - Accountants247 Glasgow South\" \/>\n<meta property=\"og:description\" content=\"Projecting your cashflow pipeline forwards is vital. 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