Worried about running out of cash?
Need to improve working capital?
Want to make better financial decisions?
Without access to cash, you will not be able to achieve your business objectives. GroForth helps you build a strong discipline around cashflow management. Our team will monitor, analyse and help you to optimise your cash management processes and ensure that you have timely, accurate data at your fingertips when you are making business decisions.
We can also provide bespoke services tailored to the unique needs of your business
There can be various reasons why businesses need to outsource their cashflow management. It may be that a business is growing but doesn’t yet have the resources to hire a financial controller, or it could be that its finance team lack the skills needed.
When you outsource your cash management to GroForth, you gain access to our experienced team of ACCA certified accountants. Other advantages include:
Cashflow management is how you control and track the money that flows in and out of your business.
It is important because it helps to keep your business running smoothly. Businesses that run out of cash find themselves in trouble very quickly and many do not survive.
Cashflow is the money that flows in when customers pay their invoices and flows out when you pay wages, suppliers and so on. When you make a sale and raise an invoice, the money left over after you have deducted the cost of the sale is your profit. However, until your customer pays the invoice, the ‘profit’ only exists on paper. It is important to understand the difference between cash and profit as it is possible to be profitable but run out of cash.
Controlling costs, having good procedures for credit control like issuing invoices on time and chasing late payments, monitoring stock levels and ensuring that you do not have too much stock on hand — these are examples of the kinds of actions that can improve cashflow management.
Various tax changes arising from the Budget, along with an increase in the national minimum wage and revised mileage and subsistence rates, are set to
With inflation hitting businesses hard, companies need to find ways to reduce their workload and maximise profitability. A Virtual Finance Department can help, says GroForth’s
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