Cash Flow Software | 4 mins read

Top 7 Cash Flow Software For SME Businesses

top 7 cash flow software for sme businesses
Hanh Truong

By Hanh Truong

Introduction to Cash Flow Software

A key component of financial planning is to create long-term strategies that ensure incoming and outgoing capital is managed properly. There are many different factors that can impact the movement of money for a company, like seasonality and customer demands.

Businesses can effectively control these challenges and their finances by using cash flow software. These tools allow organization leaders to stay on top of their financial health and safeguard their future capital.

What is Cash Flow Software?

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Cash flow software enables entrepreneurs to forecast the movement of capital within their business during a given period. Organizations can create their own onsite forecasting systems. This is prevalent for many large-scale companies. Many businesses, however, will often employ third-party software and integrate it with their current platforms to manage cash flow. There is also software-as-a-service (SaaS) cash flow software that companies can purchase with a subscription fee.

These systems provide clearer visibility into a company's current and future financial standing. Business owners will then be equipped to make informed decisions and investments. The following are other benefits of cash flow management software.

  • Data-Driven Insights - The cash flow system will automatically gather and translate data into an accessible format. This means business teams can easily review accurate and crucial financial data.
  • Integration Features - Most forecasting software can be integrated with other business systems. Doing so allows managers to consolidate data from different sources and generate detailed data analysis.
  • Enhance Success - With comprehensive data reports and cash flow forecasts, business leaders can have greater insight into their financial needs and what they have to do to maintain a profitable flow of capital.

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Top 7 Cash Flow Software Solutions

The latest cash flow software solutions are equipped with advanced features. The following are 7 of the best systems that businesses should consider.

1. Zip Forecasting

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Zip Forecasting utilizes an advanced forecasting algorithm to automatically forecast sales using historical data. It has a user-friendly interface, allowing business owners to customize their reports for the week, month, or year. This means organizations can save time and ensure accurate projections. Some of its top capabilities include the following.

  • Easy integration and implementation with existing systems
  • Intuitive software
  • Real time sales and transactions forecasting
  • Customizable forecast settings
  • Ability to analyze sales every day and project sales within 15-60 minute intervals
  • Reduce labor and food costs
  • Optimize business operations by quickly anticipating demand and preparing accordingly

2. Concur

Concur provides financial management for invoices and expenses. This tool streamlines the process of approving expenses and travel spending. It uses automation; therefore, costs related to business travel are quickly converted into expense reports. Management teams can then assess and audit these reports to proactively manage the company's budgets. The following are other features of Concur.

  • Improve expense process
  • Regulate spending activities
  • Streamline capture receipts
  • Ensure timely and correct data reports

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3. Cushion

Cushion is a financial planning application that is designed for freelancers who experience fluctuating schedules. The system allows users to forecast their entire work year, which helps them prevent overbooking clients. Other benefits of Cushion include the following.

  • Meet and track financial goals
  • Automated adjustments to financial goals
  • Easily send and track invoices to clients

4. Float

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Float can be integrated into existing accounting applications to help businesses forecast their cash flow. This solution provides snapshots of future bank balances, data reports, and transaction notes. It can also do the following.

  • Automate data entry
  • Forecast cash flow
  • Provide detailed reports for effective financial planning

5. Pulse

Pulse allows business owners and management teams to monitor their cash flow on a monthly, daily, or weekly basis. It can also generate reports using multiple currencies, which is helpful for companies that have global locations. With Pulse, finance teams can organize their income and effectively plan expenses for each project or period. Its key features include the following.

  • Visual projection reports
  • Multiple user accessibility
  • Can be integrated with other accounting platforms
  • Improved decision-making skills, regarding income, cash flow forecasting, and spending

6. Scoro

Scoro is a broad tool that has features for cash flow and project management. It can be used to improve budgeting plans, as well as to gain visibility into customer relationships. This tool has reporting and dashboard features, customization, and easy integration.

7. Plan Guru

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Plan Guru can be integrated with a business's accounting software. Similar to the latest forecasting software, Plan Guru will provide users with cash flow data and real time projections. Other than its analytics tools, Plan Guru's features are limited; therefore, it is best for small businesses.

Key Takeaways - Cash Flow Software

  • Cash flow software is a digital tool that forecasts the movement of incoming and outgoing capital during a given period.
  • Organizations have the option of developing their own cash flow software, using a third-party system, or purchasing a software-as-a-service (SaaS) application via monthly subscriptions.
  • By implementing cash flow software into business systems, top organization leaders and management teams will have access to data-driven insights, integration features, and new ways to achieve success.
  • Having visibility into a business's cash flow also ensures proper plans are put in place to safeguard future capital and profitability.

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