Business owners who run small businesses and SME companies often seek a cash manager or look for intelligent ways to manage cash flow and even create visual reports for their funding. These are some challenging tasks. However, with the right tools and software, business owners can breeze through.
Spreadsheets can produce cash flow forecasts for many companies, but you may have asked yourself if there are aspects of this process that could improve. You are correct. The truth is that a significant number of spreadsheets contain errors. A single lousy cell with a decimal point or zero can throw your entire financial plan into a loop, which could considerably affect business choices.
Moolahmore allows you to deal with your data instead of your hair. By extracting data from the accounting software your data is sourced from, you can be sure that any information transferred to Moolahmore will be correct.
Drawbacks of Using Spreadsheets
Collaboration is challenging
In a business environment, the volume of cash forecasting in Excel grows cumbersome as the company grows. In addition, as the business expands, the quantity of variables involved in the budget also increases with it, along with the people in charge of accounting.
Excel can only keep up with some user and data sources, so it becomes overburdened. One way to deal with this situation is to designate one user to work on a file at any given time or adjust some settings to accommodate multiple users. The second workaround can be challenging to track multiple versions. In such scenarios, it can be difficult to know who has the final version, and ensuring that all of the inputs are correct is challenging.
Series production is how it travels through life: things get slower and slower. Though there are hard deadlines, items can need clarification on who last updated a finished spreadsheet version, especially if there is a comprehensive transfer of inputs after the forecast is locked or frozen.
When working with spreadsheets, the potential for effort is high
Errors can come from many directions. They can come from erroneous data (i.e., values in the wrong direction) or non-functioning links. Broken links can be caused by unlocking files that were not stored or where the intended audience is prohibited. Or, they could be the result of putting the data incorrectly.
Correcting errors can require a significant amount of time, depending on where they arise. For example, broken links in named ranges are particularly tough to deal with in older files. In addition, it can be challenging to locate the error and fix it.
Sharing visuals is troublesome
Sharing decent-looking graphics from a spreadsheet takes work. First, you will need to manually copy (as an image) from one document format to a different one (i.e. ppt or .doc). It takes time and often pales in comparison to how you present the information.
Benefits of Using Moolahmore
Software solutions provide significant flexibility when it comes to creating and modifying financial models. For example, additional aspects can be seamlessly added to a model without having to be initialised from scratch, like in the case of spreadsheets.
Integration of Multiple Sources
Utilising multiple data resources will enable you to create a reliable forecast – reliable income planning. You can also use Moolahmore’s export function to import data from other sources into the spreadsheet directly. This feature enables you to complete your forecast throughout the modelling process in Moolahmore and later return to the spreadsheet when it s time for reporting.
Updating Forecasts is Fast, Easy, and Accurate
In an alternative method, an alternative forecasting formula seamlessly integrates with your accounting software. Updating forecasts, rolling forecasts, or comparing estimates to plans typically entails merely refreshing a forecast or report. And, with a direct connection to your Account Management System, there is no copying and pasting or manually re-keying accounting data, eliminating inaccuracies based on data in our accounting systems (or at least discrepancies from that data). The amount of time saved by using the Moolahmore is far more tremendous compared to the time you need to invest in manually updating Excel-based spreadsheets.
Easy to use
Moolahmore’s incredibly user-friendly interface is only half as complex as a spreadsheet. In addition, we remove any accounting jargon common to other tools on the market, leaving none between ourselves and the future financial position of your business.
See the details behind a number
With a spreadsheet, a number inside a cell is nothing more than a number. However, you can’t know what number this comprises when you do with Moolahmore. Simply clicking into a cell allows you to view all transactions, bills and invoices that compose the number of that cell. You can also track your budget versus your actual or expected cash in and out at any time.
See it all clearly
Moolahmore’s interface displays your future cash flow in a way no other method can attain. You can also export a data export visual of this flow and email it to whomever you like.
Access it all on any computer and mobile device
You and your colleagues all have access to Moolahmore by logging into its cloud-based platform from anywhere, at any time. It’s also the only mobile-enabled cash flow forecasting tool. With such a feature, investing in cash flow planning has always been challenging. How convenient is that?
Why Moolahmore Should Be Used Instead of a Spreadsheet
Moolahmore is a cash flow projection tool designed to help businesses visualise and understand their financial performance. It’s the perfect tool for small businesses looking for an efficient and accurate way to forecast their cash flow over time.
The main benefit of using Moolahmore versus a spreadsheet is that it automates data collection, analysis, and forecasting processes in one easy-to-use platform. By leveraging automated processes, users can save time by not manually entering data into spreadsheets or building complicated formulas from scratch, provided that all the data is entered into the integrated accounting software. Additionally, Moolahmore offers real-time visibility into your business’s financial performance, enabling quick decision-making based on up-to-date information.
In conclusion, using the Moolahmore cash flow projection tool is far superior to using a spreadsheet. It offers more advanced features, saves time and money, allows for accuracy and flexibility, provides more visibility into financial operations, and helps you make better decisions. By providing its users with the most powerful tools to manage their finances, Moolahmore makes the process of cash flow forecasting more straightforward and efficient.
Step up your game with Moolahmore! It provides accurate cash flow projections, analysis, and visual reports you can present to your potential investors and funders. Request a demo now!