Business owners often focus primarily on sales, expenses and profitability. Whilst these are critically important aspects, cash flow tends to only get attention when something doesn't go to plan - and by that time it may be too late.
When it comes to managing your business's cash flow, have you considered the following?
Do you have a cash access strategy?
- How well do you understand your cash flow cycles?
- Do you know how much capital you need, for what and at what times of the month or year?
Different businesses have different cash flow needs over time. We've sought to understand this and provide a range of different transactional accounts to suit. Whether you need regular transactions, high interest terms, or an expert to help you discover what you need; we can provide a solution to maximise your cash flow.
Do you have peaks and troughs in your cash flow?
- Do you use forecasting to actively manage your cash flows?
- Do you know what's causing the fluctuations in your cash flow? E.g. industry seasonality, long invoicing terms or payment taken after completing a lengthy job?
We have people, tools and products to help solve the cash flow problems that commonly arise in business. Making use of these will mean you can spend less time sorting out your banking, and more time on your business.
How do you pay and receive funds?
- Do you need the flexibility of paying and receiving funds 24/7, access to monitor your expenses and easy-to-use methods of collecting payment from your customers?
- Do you have the option to delegate access and certain banking responsibilities to selected staff members to assist with managing banking?
Payment solutions are many and varied - depending on your business or service type. We've developed a full suite, with a future focus, meaning you can manage payments in the way that's best for your business and your customers. Our range of payment solutions are designed with transparency and speed in mind to make informed payments decisions, faster.
Popular products designed for cash flow management
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When considering solutions for your business you may want to seek professional advice from your accountant or other financial or professional advisor.