Why Do Small Businesses Use Float?
For over 10 years, thousands of small businesses have been using Float to help them make their biggest business decisions. But why do they use it? And what exactly do they use it for?
This video shows you why small businesses use Float and how it could benefit your business too.
What is Float?
Float is a cash flow forecasting tool that gives you a real-time view of your cash flow and helps you make smarter decisions about the future of your business. It integrates with Xero, QuickBooks and FreeAgent to give you more control over managing your cash and helps you say goodbye to complicated cash flow spreadsheets.
The decisions you make for your business have a big impact on your business’s future. But by using cash flow forecasting software like Float, you can easily monitor and map out a picture of what’s happening with your past, present, and future cash.
So, why do small businesses use Float?
Small businesses use Float because they want to make more confident business decisions. They need a quick and intuitive solution that helps them understand what’s happening with cash in their business.
Cash flow literally runs your business but it can be a little tricky to manage in a spreadsheet. That’s where creating a visual, easy-to-understand cash flow forecast in Float comes in.
In Float, you can create a visual cash flow graph that shows you what’s most likely going to happen with your cash. Then, based on that forecast, you can map out different potential situations. We call this ‘scenario planning’.
Here’s an example:
What if you wanted to hire someone new?
In Float, you can map out the scenario of what adding a new employee looks like on your cash flow graph so you can decide which outcome is best for your business.
You can run as many different scenarios as you like such as looking at different start dates or what salaries you could potentially afford to offer until you find the one that works best for you – this means you’re basing your hiring decision on your own, real-time data and getting an accurate picture of what’s going to happen with your future cash.
Float also has exportable reports for you to easily share these forecasts and scenarios with your team, business partners or board members and makes cash flow easily understood by everyone.
Running out of cash is one of the biggest reasons why small businesses fail
As a business owner, being able to make decisions ahead of time is extremely valuable. By creating a cash flow forecast in Float, you can identify periods in the future where you may not be able to cover your costs and need to raise additional money. Float can help you spot these upcoming cash gaps ahead of time so you can plan to minimise the impact it has on your business. On the other hand, you may have positive cash flow but want to know which areas of your business that extra cash could be best invested to grow your business further.
Cash is what fuels your business, so mastering your cash flow with the help of tools like Float, is key to achieving your longer-term business goals.
If you run a business and want to try Float for free, grab yourself a free trial and start making smarter decisions for your business.