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6 Online Tools to Help You Manage Business Cash Flow

20 November 2017 No Comment

Managing the flow of cash is vital for a business. An inability to keep track of inflows and outflows of money could spell disaster relatively quickly. While mid-sized and larger businesses can hire accountants and sophisticated professionals to manage cash, smaller businesses often struggle with the basics.

In fact, some estimates suggest that eight out of every ten small businesses fail due to mismanaged cash flows. Traditional methods like reaching out to Cash Stop for an advance or delaying payments to suppliers are good routes to take, but small businesses still need to track and modify their cash flow systems.

Furthermore, small businesses still need to be careful with these traditional methods. For example, if taking out a loan, businesses need to be aware of various fees they might come across. They also need to know how long a specific amount of money will take to pay back and if that’s something they can realistically afford.

Here are the six best online tools to help small businesses manage cash flows cheaply and effectively:

1.      Float

Float is a cleverly named finance app that helps you keep your business afloat by giving you a better view of your business’ financial condition. The app costs $29 a month and is easily connected to most mainstream accounting software packages, including FreeAgent, Xero, and QuickBooks. With its gorgeous reports and budget bars, you can bid farewell to clunky spreadsheets forever.

2.      Cushion

While Float was built for small businesses, Cushion was built for smaller micro-businesses or freelancers. The app’s developers wanted a simple and effective tool to help freelancers and consultants deal with their topsy turvy cash situation. Although it offers fewer features, the app is more than adequate for small business cash flow management. At $8 a month the app is also more affordable for small business owners.

3.      Mint

With over 20 million users, Mint is probably one of the most popular online finance apps. Although it’s designed for personal finance, Mint’s app also features a nifty cash flow and budget manager for small businesses. All you need to do is hook the app up to your business bank account and the algorithm collates all the data automatically for you to manage.

4.      Pulse

Pulse is another cash flow management and business finance app that sets itself apart with a better interface and a cheaper subscription service. The app offers a 30-day free trial and costs about $14 every month after that.

5.      FUTRLI (formerly Crunchboards)

Brighton-based FUTRLI is on a mission to eradicate spreadsheets from small businesses altogether. The clever engine collates all your business’ financial data before using it to generate forecasts and good-looking reports.  Although at $29.99 per month it’s a little more expensive than other apps on this list, FUTRLI offers a lot more features and a slew of sophisticated corporate finance tools.

6.      Dryrun

Managing cash flows is one thing – forecasting it accurately is another. Dryrun allows small businesses a chance to use the sort of sophisticated cash flow and sales forecasting tools that are commonplace in larger businesses and multinational conglomerates. All this is neatly packed in a good-looking online platform and offered at $29 per month.

You can’t manage what you can’t track. Any of these six simple and affordable tools will help you manage the most crucial element of your small business – cash.


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