Why we built our cash flow management tool, Flow
Running a business is many things. It’s exciting, it’s tiring, it’s worrying, it’s rewarding. People start businesses to grow something and improve the world a little (or a lot) with their ideas. We’re all for that. Which is why we want to stand with businesses, helping them navigate the tricky bits of business planning and finance.
It is a well known fact that small businesses have it tough. The statistics are against them with high failure rates. The Small Business Administration say that "inadequate cash reserves" are a top reason startups don't succeed. So we all know it is cash flow that kills, but which bit? Cash flow is made up of various moving parts - the cash in the bank is the very result of those parts moving at the right point in time. If something is late, delayed or stuck, the result can be catastrophic.
Flow was designed to help to manage a key piece of these moving parts, the management of the cash coming in and out from suppliers and customers. Flow will predict your late-paying customers. It’s really important. On average, it takes over 40 days for a UK small business to get paid for a 30-day invoice. Each day they are late paying, they are putting your business at risk. Flow’s there to let you know in advance ensuring you get paid on time, every time - maximizing and protecting cash inflows at every opportunity.
But, Flow also takes it one step further.
Take action, tick off your to-dos
Flow gives you daily, data-driven updates on how to improve your business’s performance. Invoices, bills, expenses, customer and supplier insights. Check-in daily for fresh information on your business - who’s your best customer? Who’s paying you late? How’s your cash flow looking? It’s as easy as a scroll through your feed that is updated automatically every day.
Manage your dependencies
It can be hard to hold back from giving all your business to a few select clients. But, it can be a huge risk if you do. Imagine one customer made up thirty percent of your revenue. And now imagine losing that customer. How would you deal with losing almost a third of your revenue? Most small business’ cash flow could not withstand such a loss. Flow will manage your customer dependency for you, letting you know if your risk gets too high.
Invoices and bills
Futrli Flow makes managing and improving your cash a top priority, and easier than ever. Acting as your daily to-do list, Flow provides data-driven insights and suggestions to improve your cash, manage your customers and suppliers and make sure all your invoices and bills are paid on time.
Forget late payments - Research by Market Finance shows that payments are being made twice as late as they were last year. Late payments can leave your business without the cash you thought you’d have, making investments and expenses stressful and difficult. And map out your cash flow, with predicted payment days based on your customers’ behavior.
Build better relationships with your suppliers - Everyone loves a customer that plays on time. And it’s key for building better relationships and arranging better deals and partnerships built on loyalty. Flow keeps track of your payments, with reminders and prompts to pay, whilst keeping your cash flow balanced.
What does your short term look like? With up to date predictions on where your cash is today, tomorrow and how that stacks up to this time last year. Is the future looking worse or better than you thought? With your questions answered, you can plan ahead and build the best future.
Learn from the past
Flow analyses your cash management history and generates insights into your business’s strengths and weaknesses. These appear on your daily actionfeed, broken down into bitesize tasks so you can build a better business, one step at a time.
Flow is free!
Flow is priced for every business. The daily actionfeed surfacing the most important actions that you need to take for your business, is free, forever. To drill into the detail and get deeper insights Flow is available at just $15 per month with no minimum term.
Take control of your cash today.