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Introducing Float’s New Sales Pipeline

A key part of building a good cash flow forecast for your business is having a good understanding of what income you are going to bring in over the next few months. This is often called something like your “sales pipeline”. A sales pipeline is useful for your business as it helps you keep track of:

  • How much you hope to bring in each month (in Float we call this your sales target).
  • What money you’ve actually brought in each month (these are the invoice receipts that Float imports from your accounting system).
  • How much money you are currently owed by customers, and when you should receive it (these are your invoices that Float imports from your accounting system).
  • What money you might make in the future if you win certain jobs or projects (in Float we call these projections).

Many CRM (customer relationship management) tools try to help you track some of these things, but no CRM tools actually tie these sales and potential sales back to your bank balance, to tell you how much money you will actually have in the bank in the future if you win/lose the work. This is why we have been building an improved sales pipeline screen for Float, and it’s looking great!

On top of the four items above, Float also adds projects, which let you group projections and invoices, to make it easier to find them, and see the effect on your cash flow if you do or don’t win projects.

Float’s new pipeline screen

Here’s the new pipeline screen in Float. At a glance, you can see your current cash flow forecast, as well as a more detailed breakdown of your sales pipeline for the next few months showing your sales targets, projections, open invoices, and paid invoices. In the table below the graphs you can also see any projects you have added to Float and how much they are worth.

If you want to see what happens if a project doesn’t happen, you can just untick the checkbox next to the project, and it will be removed from your forecast instantly and the graphs will show you what that means for your cash flow.

sales-pipeline

Detailed project view

If we jump into a project, we can see all the invoices and projections associated with that project. It’s really easy to add extra projections to a project (useful if you charge your customers in multiple phases), and you can also add any associated costs for the project (like sub-contractor costs).

You can also add any relevant notes about the project to help you keep track of what’s happening with them.

sales-pipeline2

We think the new pipeline screen is going to really simplify the way you deal with upcoming projects, and let you really easily see the effect they will have on your cash flow – which is a crucial part of business planning. If you are an existing Float user, we haven’t turned it on for all accounts just yet, so just give us a shout if you would like to try it out!

Harriet Stevenson

Praline loving Marketing Manager at Float. Overly-enthusiastic novice gardener 🌱.