Manage your cash flow like a pro

Published on
December 5, 2023
Written by
Daniel Ling
Reviewed by
Episode #
Manage your cash flow like a pro
Enjoy dynamic budgeting and real-time visibility into receivables & payables with Aspire’s all-in-one finance platform
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Managing cash flow is critical to any business. Low funds can lead to unpaid bills and expenses, missed payrolls, a damaged reputation, and many more issues. 

Many profitable businesses have shuttered not because they lacked revenue, but because they did not have a clear view of their cash flow. This results in a lack of funds to pay employees, stay on top of debt payments, and keep the lights on for their business.

Many businesses—and finance professionals—use a combination of bank feeds, treasury, accounting software and spreadsheets that require manual or daily updates for a consolidated cash flow view. With today’s real-time options available to finance professionals, there’s no need to rely on disparate, manual solutions when integrated services exist. 

Optimizing your cash flow can give you an advantage over your competitors in several ways.

1. Real-time spend visibility

Quarterly budget changes are common as businesses need to make adjustments based on actual revenues vs forecasts. Having 24x7 visibility into business expenses, without having to integrate bank feeds, is critical for making the right budget adjustments dynamically.

With Aspire’s finance platform, budget adjustments can be made at the organization and/or department levels with immediate effect, propagating through the company. If you need to tighten the belt on marketing spend or freeze travel expenses, it can be done immediately with full finance control and visibility. 

2. Real-time payments

As interest rates rise, managing cash flow down to the minute is important for finance teams to drive cash flow efficiency.

Real-time payments allow invoice payments at the last minute, which in turn allows companies to hold on to their cash longer while minimizing manual tracking of bill payments.  Compared to SWIFT, ACH and other traditional options, real-time payments are available 24x7, which speeds up cash flow, reduces errors and simplifies the payment process.

3. Real-time analytics (forecasting)

It’s one thing to do budget forecasts, it’s another to get data for real-time actuals vs forecasts to make adjustments if and when the business requires.  Traditionally, finance teams generate daily and weekly reports through daily syncs with bank feeds and a manual consolidation of reports.

With fintech platforms like Aspire, real-time forecasting analytics is available 24x7. Any payment is updated immediately in the reporting interface, allowing finance teams to avoid their worst nightmare – running out of cash. 

Up your game with real-time cash flow visibility

In today’s high interest rate environment, optimizing cash flow gives you an edge over your competitors.

Real-time spend, payment, and forecasting will help you manage your cash flow like a pro with Aspire’s all-in-one finance platform. Learn how you can enjoy real-time visibility into your spend here.

Love to see a demo? Reach out to us here.

For more episodes of CFO Talks, check us out on Apple Podcasts, Google Podcasts, Spotify or add our RSS feed to your favorite podcast player!

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ABOUT THE AUTHOR
Daniel Ling is a seasoned writer specialising in business finance, market trends, and industry best practices. Daniel has led thought leadership initiatives at Meta and other reputable companies for more than a decade. Daniel leverages his consumer insights and a data-driven approach to help businesses grow.
Daniel Ling
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Aspire is the all-in-one finance operating system for businesses. Our mission is to empower the next generation of entrepreneurs with the financial tools they need to realise their company’s full potential.
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