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When it comes to future expectations of their profit and loss, in Menzies experience, business owners tend to know their business inside and out. They know what margin they will make on each product or service that they offer and have a good understanding of their overheads.
What business owners do not necessarily know inside and out though, is how and when changes (however small) to sales, purchases and other general business costs will affect their bank balance. Whether the impact is positive or negative, the phrase ‘turnover is vanity, profit is sanity and cash is king’ has never been so relevant than to the value of cashflow forecasting.
In summary, good cashflow forecasting helps a business owner to:
‘Three-way forecasting’ brings together your profit, balance sheet and cashflow data together into a single model and will be bespoke to your business. This data ‘link’ can give your business a fuller picture on the assets and expenditure that may not be captured in your cashflow analysis but appear elsewhere.
Good cashflow forecasting starts with GREAT management information. Here’s how they help business owners to develop reliable ‘near real-time’ business data for robust forecasting that feeds better business decisions
