Cash flow can make or break a business. If your cash flow is struggling, you won’t be able to pay for inventory, employee wages or make investments. Of course, you can secure a line of credit or some form of financing to help alleviate cash flow problems. But you can also use cash flow management software to help you make sense of your financials.
If you’re a business owner, we’re going to be covering cash flow software for small businesses in this article.
What Is Cash Flow Management Software?
You can calculate your cash flow manually, but it’s a time-consuming and resource-intensive process. Software helps aggregate your financial data in one place to help you generate cash flow statements.
But why change what works? There are a lot of reasons to begin using cash flow software.
Why Should You Use Cash Flow Management Software?
Cash flow management software integrates with the software and solutions that you already use to run your business. You don’t need to go through countless debits and credits to calculate how much cash flow you have at your disposal.
The best cash flow software offers numerous benefits, including:
· Real-time data to help empower your decisions. Simply open the software, run a report and in seconds, you are presented with accurate cash flow information. Up-to-date views will show you where cash is coming in and going out of your business.
· Decisions to invest and take advantage of business opportunities are impossible to make with confidence if you don’t know your cash flow. Robust, real-time cash flow data allows you to make business decisions with the confidence of knowing you’ll still have money left over at the end of the day to meet your financial commitments.
· Save time and money with software. Yes, there is an initial investment cost to use cash flow software, but you’ll save money and time generating statements and reports in the future.
Once your business’s finances become complicated and your business grows, generating cash flow statements manually doesn’t make sense. Use the world’s leading software to help make cash flow simple for your business.
3 Best Cash Flow Management Software Tools
Cash Flow Frog is our top choice because it revolves around cash flow, offers a cloud-based solution and has a graphical interface that makes it simple to read statements and reports. As a cash flow app, Cash Flow Frog empowers businesses with the following features:
· Branded reports that can be sent to management or clients
· Scenario planning to make smarter business decisions
· Planned vs. actual projections to plan for the unexpected
· Projections to know what your financials will be in the future
· Customer insights to understand who is paying and who is hurting your cash flow
And that’s just the start of the features that Cash Flow Frog offers. It’s an all-in-one solution for cash flow management and forecasts.
Vena uses a cloud-based approach to help you manage all of your financial data from anywhere in the world with an Internet connection. The platform offers a lot of great features with an Excel-based solution.
· Run financial plans and analytics
· Plan your workforce
· Manage sales performance
· Run financial reports
One of the main issues with Vena is that the platform does too much. When using Vena, it can be very overwhelming to learn which features your business needs to use and which ones you can ignore.
Cube is the last software solution on our list. The platform allows you to transfer data to a robust software and then allows you to:
· Generate cash flow statements
· Create cash flow scenarios
· Integrate with Google Sheets and equivalent
· Run a full audit history
When you run Cube, you’ll quickly see that the interface is easy to use, and the platform is robust. But Cube also lacks some of the graphical options that make it quick and easy to make sense of cash flow statements.
Reporting features are also slightly lacking.
Running the best cash flow software is good for your business. Over time, you’ll save money and time by not needing to generate cash flow statements manually. Additionally, you’ll be able to make crucial business decisions with confidence because you know how much cash flow your business has at its disposal.