“We have been using GroForth’s services for over a year. We engaged them during a period of change in our organisation. With their support we implemented a new accounting package, reviewed and updated our sales and supplier invoicing processes, implemented new options for easier customer payments and eliminated procedures which were no longer working for us. By engaging with Groforth ultimately, we enhanced our financial management reporting and built additional resilience into our processes. The book-keeping team in GroForth are easy to deal with, knowledgeable and responsive.”
CASHFLOW MANAGEMENT
01 Worried about running out of cash?
02 Need to improve working capital?
03 Want to make better financial decisions?
Without access to cash, you will not be able to achieve your business objectives. GroForth helps you build a strong discipline around cashflow management. Our team will monitor, analyse and help you to optimise your cash management processes and ensure that you have timely, accurate data at your fingertips when you are making business decisions.
Our cashflow management services include:
- Risk analysis
- Sales pipeline / income monitoring
- Expenditure monitoring
- Projections
- Business planning
- Working capital management
We can also provide bespoke services tailored to the unique needs of your business.
Benefits of outsourcing your cashflow services include:
There can be various reasons why businesses need to outsource their cashflow management. It may be that a business is growing but doesn’t yet have the resources to hire a financial controller, or it could be that its finance team lack the skills needed.
When you outsource your cash management to GroForth, you gain access to our experienced team of ACCA certified accountants.
Other advantages include:
Accurate information: We will help you anticipate when cash will be needed so that you can prepare to have resources in place on time.
Working capital: We will help you identify opportunities to improve your working capital which in turn can help improve your resilience and provide capital for future development and growth.
Credit Control: We will help ensure your invoices are raised promptly and that late payments are followed up.
Decision making: We will help you improve decision making by enhancing your short and long-term cash forecasting.
Cash management procedures: We will provide advice for your team on how to improve your internal cash management procedures.
What our clients say about us
A pain point for most businesses like ours is bookkeeping, we have used GroForth for many years and they effectively alleviate it. They are responsive and care about the outcome to all queries.
Alan Lyons, Director of KinchLyons Limited
FAQS
What is cashflow management?
Cashflow management is how you control and track the money that flows in and out of your business.
Why is cashflow management important?
It is important because it helps to keep your business running smoothly. Businesses that run out of cash find themselves in trouble very quickly and many do not survive.
What is the difference between cashflow and profit?
Cashflow is the money that flows in when customers pay their invoices and flows out when you pay wages, suppliers and so on. When you make a sale and raise an invoice, the money left over after you have deducted the cost of the sale is your profit. However, until your customer pays the invoice, the ‘profit’ only exists on paper. It is important to understand the difference between cash and profit as it is possible to be profitable but run out of cash.
How can you improve cashflow management?
Controlling costs, having good procedures for credit control like issuing invoices on time and chasing late payments, monitoring stock levels and ensuring that you do not have too much stock on hand — these are examples of the kinds of actions that can improve cashflow management.
