One of the main components of financial management is cash flow management. The success and stability of a business depend on this process.
The corresponding services, including cash flow, can be obtained using special Finoko software. Finoko helps companies effectively manage cash flow and achieve financial goals.
Importance of cash flow management
Cash flow management is a set of measures aimed at maintaining a balance between incoming and outgoing transactions in a company. This is critical to ensure:
- Liquidity — the company’s ability to meet its financial obligations in a timely manner;
- Financial stability — the company’s ability to withstand external and internal financial risks;
- Investment and growth — the availability of funds to finance new projects and initiatives.
Poor cash flow management can lead to a shortage of funds, which will limit the company’s capabilities and increase financial risks.
Software functions
Finoko software offers all the necessary tools for monitoring and optimizing cash flows, which allows companies to effectively manage their resources. The main functions of Finoko are as follows:
- automatic creation of a cash flow report;
- manage and consolidate multiple locations, currencies, and companies;
- plan and approve payments, etc.
Finoko automatically creates cash flow reports using direct and indirect methods. Companies can get accurate data on their cash flows and make decisions based on up-to-date information. Reports include detailed data on receipts and expenses.
For companies with international operations and multiple branches, Finoko offers the ability to manage cash flows in different currencies and locations. The software allows you to consolidate data from various sources and generate a single cash flow report for the entire organization.
Finoko provides tools for planning and approving payments, allowing companies to optimize their expenses and prevent cash shortages. The software allows you to create a payment schedule, set limits, and monitor budget execution. Finoko is equipped with powerful analytical tools that allow companies to conduct a detailed analysis of their cash flows.
