Small-business owners, by and large, know the importance of cash-flow forecasting. But there’s a surprising disconnect between their perception of its value and the actual practice of accurately and efficiently forecasting their cash position. More than half of businesses still handle cash-flow forecasting tasks manually, with pen and paper or Excel spreadsheets. Banks are in an ideal position to offer cash-flow tools to their business clients. Cash flow represents an unparalleled opportunity for banks seeking to cultivate more meaningful daily connections with their small-business clients.
This Javelin Strategy & Research report delves into how small businesses are currently forecasting their cash flow and how banks can introduce digital tools in a three-part progression, from basic payments insight to advanced features like predictive analytics.
Key questions discussed in this report:
- What are the needs of small businesses when it comes to cash-flow forecasting?
- How can businesses accustomed to manually plotting their cash position be moved into more efficient digital tools?
- What are the three steps in the development of cash-flow tools and how can they be implemented?
9Spokes, American Express, Apiture, Bank of America, Float, Huntington Bank, Jack Henry, Monit, PNC Bank, Pulse, Q2, QuickBooks, U.S. Bank, Zoho,
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