We often get asked what the difference is between Float vs Fluidly. So we thought it would be helpful to detail the main similarities and differences right here.
Here’s a quick comparison, so you can choose which cash flow forecasting software suits you best.
Firstly, let’s look at what Float and Fluidly have in common.
Direct / operational method of cash flow
There are two ways to calculate cash flow – these are the direct and indirect method of cash flow forecasting. The direct method is used for short to medium term forecasting, and looks at inflows and outflows of cash as a result of operating activities, using this information to base the forecast on actuals. The indirect method is more commonly used by businesses for longer term forecasting, and is based on a company’s P&L and balance sheet.
Both Float and Fluidly use the direct method to calculate your forecast.
Managing invoices and bills
Both Float and Fluidly give you a picture of invoices due and bills to be paid.
Ability to budget using an average of past actuals
Both forecasting softwares let you create a budget using an average of your historical financial data.
You can plan for important ‘what if’ business questions using the Float or Fluidly scenario planning feature.
Import data from a spreadsheet
Both Fluidly and Float allow you to bring in data you might have from a spreadsheet and put it into your forecast.
Now let’s look at the main differences between Float and Fluidly.
Control over your cash budgets
Fluidly takes the approach of trying to automatically predict what you’ll spend, based on historical averages and other data. On the other hand, Float lets you set your own budgets, which offers flexibility to growing businesses where cash flow can differ considerably from month to month.
According to an article by De Jong Phillips: “whilst AI is undoubtedly very clever, many businesses have lumpy and non-trending cash flows, meaning you have to individually turn off all the calculations Fluidly has already done”.
Budget variance reporting
Float offers a budget vs actuals report to give you insight into how well (or badly!) you are sticking to your budgets.
In Float you can make and customise any kind of scenario, while Fluidly uses pre-set scenarios such as hiring new staff or moving premises.
Fluidly offers funding options, whereas Float is purely about forecasting and understanding your cash flow.
Float allows you to customise your cash flow table, so you can lay it out in the best way that suits you.
We hope you find this comparison helpful and if you have any queries, don’t hesitate to get in touch with our friendly support team.
Want to see Float in action? Get a free 14-day trial today, no credit card required.