Cash Flow Projections and Automated
Your Virtual Treasurer
Cash management is a key component to financial stability and solvency. It's main focus is on collecting what is due to you and understanding your short term cash requirements.
Our accounting and bookkeeping clients get this "Virtual Treasurer" for free.
What does my Virtual Treasurer do?
We use a cloud software called Debtze and it sits along side your accounting software. Based on a set of criteria we apply, Debtze will monitor cash and receivable activity and send alerts via email, SMS and automated phone calls. Debtze uses fast and intelligent insight before it throws a red flag up in the air. With Debtze's mobile apps, you can keep on top of your cash on the go. You will be able to see how many days’ cash on hand you have, what is due to come in, what you owe, etc. etc.. Let's see what Debtze will do for us:
Cash Flow Projections
Cash planning is essential for running a business and proper planning is financially rewarding. We all know that controlling cash deters fraud and managing cash helps it grow.
Debtze streamlines the cash management technique so you don't have to pick up a calculator or open a spreadsheet to figure out how much cash you will have after payroll next Thursday.
Chase lazy payers through ways that work Over 90% of late invoice payments are down to lazy payers. Debtze will work away in the background ensuring all invoices are paid to keep the money flowing in, and we will notify you when we think there is a potential cashflow issue looming. Our cash flow model runs off your up-to-date data directly from your Xero general ledger. It identifies potential shortfalls in your cash balance, while chasing down late payers to ensure you have money coming in on time. The cash flow management algorithm analyses your cash burn rate versus money in (plus lots of other math’s) and acts as an early warning system for your business. Debtze graphically presents its analysis and allows you to drill down into the data when further scrutiny is needed.
Our debt collection solution is a fully automated, multi-channel platform that puts your non-payers down a proven dunning (debt collection) process that utilizes email, SMS and automated phone calls. We base our algorithms on data that is backed by hundreds of millions of successful collections outcomes, so we’re a lot more prescriptive than our competitors. We know what to say, how to say it and when to deliver it to drive the highest probability of payment. The humans. If you need some advice on any part of the cash flow and collections journey, or you have queries about our product, you can get us at support (at) debtze.com
a provider of cash flow optimization platform for small businesses, and Zoho, the leading cloud-based business operating system, today announced a partnership in which Zoho will offer Fundbox to its user base in the U.S. Under the partnership, Zoho will provide access to Fundbox’s technology to streamline and automate the business borrowing experience within the Zoho ecosystem.
Fundbox addresses one of the biggest pain points for small businesses and freelancers: cash flow. A recent Fundbox study revealed that 64 percent of small businesses are adversely affected by late payments. Over 80 percent of small business invoices are over 30 days due. This integration will allow Zoho customers approved for Fundbox Credit to advance funds tied up in their receivables so they can focus on business growth.
“Cash flow is the lifeblood for many small businesses. The ability to accurately track their finances and project working capital needs is a fundamental advantage when using Zoho Books and Zoho Invoice,” said Raj Sabhlok, president of Zoho Corp. “Now, our customers can not only recognize cash flow gaps, but get the cash they need from Fundbox in a few clicks and keep their businesses running smoothly.”
“We are thrilled to extend our reach to Zoho’s customers in the U.S. and enable them to solve their cash flow gaps,” said Prashant Fuloria, chief product officer, Fundbox. “Fundbox addresses an immediate need: paying small businesses for the work they’ve already done, and is dedicated to providing them with previously unimaginable financial options.”
Launched in 1996, Zoho provides all the necessary applications to run a business entirely from the cloud and an easy-to-use, online accounting software designed for small businesses to manage their finances and stay on top of their cash flow.
Fundbox has developed a tech-powered tool that employs advanced underwriting algorithms and deep learning capabilities to advance funds tied up in outstanding invoices, helping business owners eliminate their cash flow challenges and grow their business.
A poorly managed receivables. reducing the length of account receivables (AR), increasing collection rates, selecting appropriate short-term investment vehicles, and increasing cash on hand to improve a company's cash position and profitability.
Successfully managing cash is an essential skill for small business developers, because they typically have less access to affordable credit and have a significant amount of upfront costs to manage while waiting for receivables. Wisely managing cash enables a company to meet unexpected expenses, and to handle regularly occurring events such as payroll distribution.
Functions of Cash ManagementCash management is the treasury function of a business, responsible for achieving optimal efficiency in two key areas: receivables, which is cash coming in, and payables, which is cash going out.
Receivables ManagementWhen a business issues an invoice it is reported as a receivable, which is cash earned but yet to be received. Depending on the terms of the invoice, the business may have to wait 30, 60 or 90 days for the cash to be received. It is common for a business to report increasing sales, yet still run into a cash crunch because of slow or poorly managed receivables. There are a number of things a business can do to accelerate its receivables and reduce payment float, including clarifying billing terms with customers, using an automated billing service to bill customers immediately, using electronic payment processing through a bank to collect payments, and staying on top of collections with an aging receivables report.
Payables ManagementWhen a business controls its payables, it can better control its cash flow. By improving the overall efficiency of the payables process, a business can reduce costs and keep more cash working in the business. Payables management solutions, such as electronic payment processing, direct payroll deposit, and controlled disbursement can streamline and automate the payable functions.
Most of the receivables and payables management functions can be automated using business banking solutions. The digital age has opened up opportunities for smaller businesses to access the same large-scale cash management technologies used by bigger companies. The cost savings generated from more efficient cash management techniques easily offsets the costs. More importantly, management will be able to reallocate precious resources to growing the business.