‘Revenue is vanity, profit is sanity, but cash is king.’
Cash is a vital resource for any business to thrive. Most companies succeed by managing the cash flow of the business effectively. However, nearly 82% of small businesses are forced to shut shop due to mismanagement or misunderstanding of cashflow.
Maintaining a healthy cashflow not just helps you with financial stability, but also in furthering your growth plans. However, it is tough to manage cashflow by looking at a spread of numbers.
Using a business intelligence platform like ZikZuk can help manage your financial data and leverage it for success.
In this blog, we will learn how ZikZuk’s business intelligence tool, Business Finance Manager (BFM) helps you improve your cashflow management.
What is cashflow management?
Cashflow management is the process of tracking, monitoring, and managing your company’s expenses and revenue. The goal of cashflow management is to ensure that your business has enough cash to take care of invoice payments, employee compensation, and fund future growth investments. Being in control of your cashflow empowers you to power growth strategies and keep risks in check.
Role of Business Intelligence Platforms
A business Intelligence platform is an AI-powered tool that generates valuable insights from the financial information of your company. It processes relevant accounting data and throws up reports in a variety of formats including rich visual graphs and charts. Companies can use these analytical reports to make market forecasts, streamline cashflow, and make informed business decisions. Business intelligence platforms are becoming a strategic investment for companies to gain financial mastery.
How ZikZuk’s Business Intelligence Platform helps you improve cashflow management?
ZikZuk’s BFM is an ideal business intelligence platform that is built sophisticatedly with AI/Ml capabilities to help your team extract smart insights anytime and anywhere. Below are some of the ways BFM helps your business.
Financial forecasts for better preparedness
BFM enables you to make predictions about your cashflow so that you can efficiently plan budgeting and forecast resource requirements. The business intelligence platform gives you a clear pathway to achieving your business goals through automated reporting and analytics. It also enables business managers to evaluate market conditions and always be in control of cashflow.
A centralized hub for financial data
As your business intelligence platform, BFM forms a centralized hub for your complete financial and accounting information. It streamlines data integration from across tools including spreadsheets and Tally. It will not just bring your entire data blocks onto one platform but also produce insights in real-time.
Manage risks in an informed fashion
Although business growth is the ultimate aim of every company, it is crucial to assess your cashflow before making any big moves. ZikZuk’s business intelligence platform can help you avoid bad financial decisions through a robust risk management system. It gives you a clear picture of the state of your cashflow via forecasts and past trends.
Know the pulse of your customers
BFM enables you to put your customers at the core of your business by giving you invaluable insights into their expectations. The intelligence platform helps you predict changing market moods and identify customer expectations. Such capabilities ensure that you are always in touch with customer needs.
Automate your way to efficiency
The business intelligence platform from ZikZuk gives your team a wide spectrum of automation capabilities including invoice creation, payment collection, and reminders. BFM helps you improve your financial health by avoiding payment delays.
Access Tally on mobile
BFM is an ideal option to access your Tally data on your mobile devices for convenience and better efficiency. You can also directly update your financial information on Tally through the business intelligence platform.
BFM is built to help businesses simplify cashflow management by giving them AI-based features so that you can turn your financial data into an asset for growth. The platform gives you superpowers through features like risk monitoring, insightful reporting, automated payment collection, and access to Tally on mobile.
To learn more about how ZikZuk’s BFM can help you make smart business decisions, book a free demo.