What Should You Track on Your Cash Flow Dashboards? A Guide to Startup Founders

• Major Spends: Expenditures, such as equipment purchases or large marketing campaigns, significantly impact your cash flow. Identify the most expensive areas of your business and find ways to reduce costs. It is important to monitor these major spends and plan accordingly to maintain a healthy cash flow.

Why You Need a Good Financial Dashboard?A financial dashboard, particularly your CFO financial dashboard, and cash flow dashboard, serves as the compass that guides founders to navigate challenges, seize growth opportunities, and ensure the long-term success of their ventures. It acts as the lifeboat that keeps your business afloat, especially during turbulent times.
Therefore, your cash flow dashboard should be:

• Clear and concise: A well-designed dashboard can provide a snapshot of your company's financial health without overwhelming you with details. Clutter leads to confusion and missed opportunities, making a streamlined dashboard essential.
• Up-to-date: Real-time visibility into your company's cash flow situation enables better decision-making.
• Easy to comprehend: As not all of us have a background in finance, visualizing data through charts and graphs on a dashboard is simpler and more effective for understanding complex financial information.
• Customisable: Your dashboard should evolve with your changing needs and goals. It must allow you to tailor the metrics and data visualizations according to your business needs, ensuring it remains a powerful tool for decision-making.
• Accessible: To your team on the go. It helps in collaboration and speeds up decision-making.

Elevating Cash Flow Management with AIManual tracking of cash flow through spreadsheets can be time-consuming and error-prone. As your business grows, you will need to do cash flow monitoring of more metrics, handle larger amounts of data, and make faster decisions, highlighting the need for an automated system.
Automating cash flow management allows you to do liquidity management :

• Sync data across platforms: Your payments, bank statements, and invoices processes Transactions are automatically synced with your accounting software and cash flow tracking software through Bank Connectivity, optimizing resources and costs by eliminating the need for manual data entry.
• Provide real-time visibility: Even with limited receivables and payables, having a real-time cash flow dashboard keeps you informed and facilitates better decisions.
• Generate custom reports: Customised reports offer deeper insights into your company's financial health, aiding in cash flow forecasting and supporting the improvement of your cash flow conversion cycle, alongside accurate Cash Flow Projection which can be achieved through the use of a cash flow projection tool.
• Prevent delays: Automating client invoicing and managing accounts receivable and accounts payable ensures that these critical tasks are not overlooked, avoiding any delays that could negatively impact your cash flow.

Automated cash flow management is not only efficient but also makes tedious tasks effortless and seamless, freeing up time for you to focus on other critical aspects of your business, such as growth strategies and customer relationships.Connect with us to simplify your entrepreneurial journey with a smart BAT (banking, accounting, and taxation) platform.