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How forecasting can smash your clients’ goals

30th Jan 2023
Brought to you by
Futrli by Sage logo
Futrli by Sage offer prediction software solutions for both small businesses and accountants. Let...
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Whether it’s profitability, expansion, or simply getting their weekends back, your clients have things they want to achieve. When they are dealing with the day-to-day running of their business, it’s not always easy for them to keep track of those goals – or to understand what’s working and what isn’t.

 How forecasting can smash your clients’ goals | Futrli by Sage | Image of a woman working in a restaurant
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Making key business decisions can often feel like a guessing game. With so many variables involved, your clients might feel like their only option is to get a rough idea of the data, rely on gut instinct and hope for the best.

This doesn’t have to be the case. Your expertise, combined with the data-driven power of accurate cashflow forecasting software, can help your clients to keep their eyes on the prize and make the right decisions to get there. 

Envision the future

Cashflow forecasting software helps your clients see what the future will look like if they continue as they are – and whether that aligns with their goals. 

If it does, they’ll have the confidence of knowing they’re on track and can keep coming back to the forecast to monitor their performance. If it doesn’t, they’ll be able to identify where the barriers are and work out their next steps.

With a base forecast to work from, you can then start to tweak certain variables and create a fuller picture of your clients’ future performance in different scenarios.

Compared to building and sending a complex set of cashflow forecasting spreadsheets each month, software gives you a clearer and more dynamic option, opening this data up to a broader range of clients.

Make the best decisions

With forecasts in mind, your clients can make important strategic decisions based on data, not guesswork. Forecasting software should help them to prioritise not just the actions that feel important, but the ones they know will bring them closer to their goals.

This might include deciding on pricing (a perennial challenge for business owners), as well as picking the right time to hire a new member of staff, or launch a new product or service.

It will also help them to set a realistic budget and control their finances over the months and years to come.

As an expert advisor, this is where you can add real value. By talking through the forecasts with your client, you can help them to turn the data into actionable insights and to help work out their next steps.

Track progress

To achieve an objective, you need to be able to measure it. The best cashflow forecasting software will integrate forecasting with your clients’ KPIs, so they can keep an eye on the precise metrics that matter to them.

Forecasting at this granular level means your clients can manage their progress across the business, assigning individual teams and departments KPIs that tie into an overall goal. 

This should help to make their plans feel like a cohesive effort, giving everyone visibility on their performance against KPIs and how that links to the bigger picture. 

Impress the board and secure funding

Last, but not least, is the power of accurate forecasting to give stakeholders and external parties confidence in your clients’ performance. 

This is essential to keep the board of directors happy and get sign-off on major decisions, as well as for seeking funding or investment – both of which will help to drive growth-hungry clients towards their goals. 

Clarity on historical performance, combined with an informed view of the future, should give those stakeholders all the information they need.

 

To find out more about how Futrli’s powerful cashflow forecasting and reporting tools can support your clients, sign up for a 1:1 demo or start your free trial today.