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it Isn’t Cash flow forecasting is building a plan to ensure that you have the liquid assets you need to maintain business operations. While revenue is also an important number to understand for the health of your business, it doesn’t represent cash that you can use to pay bills like rent, inventory, and salaries. Obviously, to forecast your cash flow, you’ll need to understand first how much cash you’ll be bringing into the business. Cash flow forecasting software that can easily produce a cash flow statement that reports on historical numbers can simplify this step, and all the steps, of the forecasting process.

Recently, Centage’s Planning Maestro was named a Best Financial Reporting Software of 2021 by Digital.com, a leading independent review website for small business online tools, products, and services. Self-service financial reporting shifts the burden from IT and a manager’s abilities with Excel and instead creates a visual, interactive reporting system that allows for deep dives into the data. By providing a self-service reporting mechanism to business managers, an organization’s employees are empowered to make good decisions based on real, timely, and up-to-date data. Reporting should be the tool used to answer important business questions – questions that lead to defining a path toward a company’s strategic goals.

Last week we shared some exciting news: the availability of three new editions of Planning Maestro, our powerful, easy to use, and quick to implement software for Finance teams. The new editions bring Intelligent Planning to a wide range of businesses and even more Finance professionals than ever before, providing sophisticated, year-round planning that is ideal for today’s dynamic businesses as they grow, plan, and make decisions to optimize performance. Differing from the traditional annual budgeting and planning approach, Intelligent Planning connects all of the important financial data streams and feeds while fostering continuous collaboration across the business, and guides decision making so organizations can react quickly to market changes – all of which are so critical today. Our one-of-a-kind cloud platform, Planning Maestro consolidates a businesses’ important financial planning data streams and enables continuous collaboration with key stakeholders to guide budgeting, forecasting, scenario planning, and decision making.

Depending on how your organization is structured, a new cycle of planning could mean that financial forecasting is set to monthly sessions when data is updated and evaluated based on key business drivers. If you sell products or services that must be recognized over the period that the contract states, it’s important to look at your deferred revenue monthly to ensure it’s not too high. Forecasting sales and revenue can be tricky, given that a portion of your revenue may be deferred and because market conditions may affect sales. None Use the data and metrics you’ve created for tracking sales revenue and potential to populate for sales and revenue forecast.