Cashflow Management – Managing Your Cash

At Drumm Nevatt we are often asked by our clients for advice and strategies on effective cashflow management so we decided to develop a service that specifically addresses this need.

CASHFLOW MANAGEMENT SERVICE

We understand that cashflow planning and forecasting is best practice in any business and is critical to survival and growth. In the current economic climate, it’s more relevant than ever!

It is important to set cashflow targets and to regularly monitor your actual cashflow against your forecast. This will enable you to predict large cash outflows and respond to changes in your business. We can help you to set up this mechanism in your business.

Inadequate cashflow is a symptom of management problems in a business, NOT the cause.

Helping our clients look ahead with confidence and putting in place basic cashflow maximisation strategies is core to our purpose as your accountants..

Who Should Undertake this Service?Cash Flow Management

If you require a Cashflow Forecast because your bank manager has requested one, we can create one for you.

However, we recommend our Cashflow Management service to any businesses as it is fundamental that every business owner understand cash and liquidity, to enable better decision making.

Recognising the difference between profit and cash, and the impact improving your Cash Conversion Cycle will have on your business, is essential to managing and growing any business.

Cashflow Management Service Options

We offer two service options.

Both include the completion of a Cashflow Forecast and the inputting of your Cashflow Forecast into your accounting or reporting software.

Service One

A Cashflow Forecast.

Preparation of a Cashflow Forecast

Followed by a one hour Cashflow Forecast Review meeting.

At the meeting we will discuss and finalise the Forecast.

Subsequently, we will input the cashflow forecast into your accounting system or reporting software.

Contact Us for further information

Service Two

Cashflow Management Coaching.

Preparation of a Cashflow Forecast along with a three hour Cashflow Management Coaching session to:

  • Discuss and finalise the Cashflow Forecast
  • Identify your current Cash Conversion Cycle
  • Identify the likely causes of cashflow problems within your business
  • Set 12 month and 90 day cashflow improvement goals and actions

This initial session is followed by four quarterly accountability coaching sessions, ensuring that you put in place essential cashflow management strategies and achieve your cashflow improvement goals.

Contact Us for further information

Timing – When should I book in to start Improving my Cashflow?

Businesses should have a Cashflow Forecast in place before the beginning of the new financial year. Having said that, we can provide this service at any time.

The sooner we complete a Cashflow Forecast for you, the sooner we can work together to agree strategies for improving your cashflow.

Call us now on 09 534 4382 to further discuss our Cashflow Management service options.

Cashflow Management & Forecasting
– Benefits and Advantages

  • Assists with bank lending requirements
  • Identifies ways to avoid late payment penalties and interest from suppliers
  • Improves communication and relationships with your financiers and suppliers
  • Gives you an understanding of cash and liquidity for better decision making
  • Helps you understand the key cashflow drivers and the Cash Conversion Cycle in your business
  • Enables you to predict and plan for large cash outflows
  • Teaches you how to monitor your actual cashflow against forecast in your accounting or reporting software
  • Provides peace of mind that your cashflow needs are known and properly funded
  • Improves business processes that maximise cashflow, profit and business value
  • Drives your business to achieve your goals in a controlled and managed way