Cloud accounting for smarter cashflow management

author image Ultimate 12 December 2016

One of the biggest challenges facing a small or medium sized business is cashflow.  It’s a constant juggling act to get the money coming in fast enough to keep pace with all the outgoings.  This is especially awkward when demand for your products and services is seasonal and income takes a dip.  It’s also very challenging when demand picks up, because you’ll have to find extra funds to invest in more staff, more stock or raw materials and more machinery and vehicles.   In other words there is never a time when you can afford to take your eye off the situation!

We specialise in helping SMEs ride this roller coaster with a broad portfolio of business financing options that range from invoice finance to asset finance, online short term business loans to trade finance and specialist solutions for those in the construction and recruitment sectors. 

Cloud accounting – way better

The latest cloud accounting packages are a huge boon for business owners and managers who like to keep their finger on the financial pulse.  They enable you to get a really clear and current view of how your financial situation is changing from day to day.  Here we list some of the features and benefits provided by the latest generation of cloud based programs.

User friendliness:  The latest products are easy to work with, even if you’ve never used book keeping software before.  You won’t find it difficult raise and send invoices, enter supplier bills, reconcile bank transactions and prepare VAT returns.

Time efficient:  The newest versions save you time by automating many of the regular data entry tasks involved with book keeping.

Improved cashflow management:  The most up to date programmes have features which allow you to monitor expenditure and identify, in real time, any potential overspend.  Real time feeds from your bank also make it easier to get live snapshots of how well the business is performing.  Embedded payment links in sales invoices also encourage customers to pay more promptly and some have an automated invoice reminder function to make chasing debts considerably easier.

Real time information:  With live bank feeds financial data can be regularly updated to ensure everything is fully current.  You can run a wide variety of reports to assist with well-informed decision making and accurate performance monitoring.

Customisable:  Most of the latest cloud based packages allow you to integrate additional reporting tools, stock tracking features, e-commerce capabilities, point-of sale enhancement and CRM resources.  You can build a system that is tailored to meet your specific requirements.

Automatic upgrades:  The system will be upgraded for you, at a time that’s convenient for your schedule.  You won’t have to do anything and the cost is included in your subscription.

Mobile access:  You can log on from anywhere, at any time, using your PC, mobile or tablet – you can constantly update your information, and see how your business is doing, while out and about.

Automated backup:  You don’t have to back up the data manually as it is all stored on the cloud.  If your computer has a problem you can access your data from another device.

Easy for other finance professionals to help you:  Your accountant can access the data and run reports in real time.  This means they are better placed to give you timely and accurate advice.  It also makes it easier to access finance should you require it.  Potential providers can get a very clear and accurate picture of how your business is doing – which makes it more likely that they will offer you help on attractive terms.

Cloud accounting and cashflow solutions – perfectly complementary

The latest generation of cloud computing platforms allow you to really keep on top of the cashflow situation and spot potential issues before they become urgent problems.  If you do see an awkward situation developing, or realise that you could use some extra funding to seize an opportunity, get it touch with us immediately.

Whatever the circumstances we’re almost certain to have an appropriate facility.  Whether it’s invoice finance to release funds tied up in your unpaid invoices, asset finance to help you acquire additional vehicles or machinery, Ultimate Business Cash to provide a short term business loan, trade finance to cover the cost of a large supplier order, or one of our niche construction finance or recruitment finance solutions, we have the funds and the eagerness to help.  Contact us now if you’d like to find out more.

Get a quote today