Which cashflow forecasting tools are most popular amongst readers, and which ones are you not happy with?
If anyone has the time to drop a few lines on the key issues you're finding with these tools, or the reason stopping you from using them, it will help direct the content of future articles.
Thank you in advance for any responses!
Related resources
Replies (3)
Please login or register to join the discussion.
Excel + knowledge of the organisation I am modelling. The output that suits the needs of the business will be specific to them so I start from that and have a standard approach to the 'wiring' to make sure it is coherent.
TBH forecasting is easy compared to updating it with actuals sometimes. Life is not as straightforward as the model...
If you are talking about daily/weekly cashflow forecasting for a 2 year period - then, really, Excel is your only option - plus easy to update in a few minutes each week.
(as I have done this morning).
Plus, as above, you need to know how the company earns it's money.
In our case - we get deposits with orders, and work takes 16 weeks, so that is a key part of the model.
Important to note there's a critical difference between the short term cashflow forecasting that is current in vogue thanks to apps like Float, Fluidly etc and "proper" 3 way forecasting that you do in Excel, Winforecast (if you still keep this limping along) or one of the newer apps in this space that have replaced it
