Check out this transcript of the video below, taking each slide in turn to explain what a cash flow forecast is and how Finanscapes can help you manage yours better.
Slide 1: What is a cash flow forecast?
Forecasting is the science of calculating what will happen in the future depending on different variables and looks at what will happen if and when the financial variables of your business change. That is the money coming in or going out goes up or down.
Cash flow can be defined as the amount of cash readily available within your business. That is, not accounted for and not owing in credit.
So, now we know what a forecast is and what cash flow means, we can put them together to define a cash flow forecast. A cash flow forecast specifically looks at what will happen to the cash within your business if any of the financial variables effecting your cash flow change.
We have created specific information on how to calculate your cash flow to help you identify exactly which incoming and outgoing variables should be included in your forecast.
Slide 2: Forecast anywhere!
Finanscapes have a cloud-based forecasting tool which gives you access to your forecasts from anywhere with an internet connection. This means you can do away with different versions of spreadsheets, which are often fraught with human error and calculations which are incorrect due to additional columns and rows which haven't been accounted for.
There are many benefits to forecasting with Finanscapes but the biggest by far is the risk-free flexible it gives you to create as many forecasts as you like without investing a penny! You can see, from a single easy-to-interpret dashboard, if your idea or project is financially viable and whether it should be pursued.
Why not try the Finanscapes Forecasting tool for FREE now.
Slide 3: Accessing Finanscapes
The Finanscapes Forecasting tool works on all major platforms including Chrome, Firefox, Internet Explorer 10+ and Safari making it flexible, reliable and convenient for everyone.
There is a passwordless, 1-click login process making forecasting your ideas, cash flow and profits easier than ever before.
Slide 4: Start forecasting
Getting started couldn't be easier with Finanscapes. All you have to do is start a FREE trial or sign up for just £39.99 for a 12 month licence which gives you access to all of the functionality and allows you to selectively publish your forecasts to mentors, bank managers or investors.
Slide 5: Login for More
As mentioned earlier, the login process couldn't be simpler. Just one click and you can fully login using your preferred social media account.
Slide 6: Starting your cash flow forecast
The Finanscapes forecasting tool takes you through the whole forecasting process step by step, meaning it doesn't matter if you have never created a forecast before, you will be able to produce an accurate one using this tool.
Simply follow the instructions and fill in the boxes with accurate figures and the forecast will build itself, error free (assuming you have entered accurate figures of course!) Start by naming your forecast because you need to be able to easily identify each forecast or scenario when you come back to them.
Slide 7, 8 and 9: And so to your forecast!
Having named your forecast and completed each of the sections with your incoming and outgoing financial figures, you are then ready to see what that means for your business in your forecast dashboard.
The predicted profit and loss forecast, according to the figures you have entered, will then be shown in a bar graph or a table (depending on your personal preference) in your dashboard. This will show you, at a quick glance, what the forecasted levels of profit and loss are for this particular set of figures for each of the months the forecast covers.
The predicted cash flow, according to the figures you have entered, will then be shown in either a graph or a table, depending on your preference. You can also drill down into the detail of your cash flow forecast to give you more information at the touch of a button.
You can, at any point, adjust any of the figures in your forecast to see what impact this will have on your profit and loss or your cash flow.
Slide 10 and 11: More than one idea?
These slides show you how easy it is to compare different ideas and scenarios before you spend a single penny. A top level dashboard easily compares the headline figures for each of your start-up ideas giving you a clear idea of what might work and what might need some more work before it is ready to put into action.
Slide 12: Product-level indicators
The Finanscapes forecasting tool allows you to compare product profitability including product margin information and the break-even point for each product line as well as at a top level.
Another significant advantage of this tool is that it indicates implications of the business-wide decisions being made and the associated costs of these decisions are factored into your forecast. This is almost impossible to see when using a spreadsheet for your forecasting!
Start your cash flow forecast today with a FREE trial of Finanscapes forecast tool.