Tips to Accurate Cash Flow Forecasting
“Cash flow forecasting is an essential skill to learn. It helps you identify and prepare for hidden opportunities and risks, and make key strategic decisions with confidence.
“A cash flow forecast looks ahead at the flow of cash that could come in and out of your business, and the surplus working capital left over you can re-invest. It’s the core tool for budgeting the money you need to run your business on a month to month basis and to help build a case to access funding for your business.”
Once you’ve got your cash flow forecast in place, getting your payments in quickly is the next big hurdle.
The final tip, is making sure you get paid quickly. This is where CheckVault can help.
By securing your money before you start work your client has allocated those funds for you and you alone. It’s already out of their account and being held securely in CheckVault, as an independent third party.
On average, CheckVault clients receive their payments within 5 business days of finishing the work, as opposed to 30-60+ days previously. That’s having a tremendous impact on their cash flow. What could it do for yours?