With the rising popularity of business software solutions, many buyers in the UK have begun to use cash forecasting tools to give their organisations a competitive edge. Cash forecasting tools are designed to help users analyse their financial data and predict their future cash flow.
While tools like Microsoft Excel and Google Sheets help users explore data and generate insights from data sets, the cash forecasting tools take it a step further. They can simplify the cash forecasting process for users. They often include additional features for combining data from multiple sources and managing cash flow and other business finances.
Businesses and organisations within the UK and worldwide have been utilising cash forecasting software solutions, and the global cash flow market size has grown to reflect their increasing popularity. According to research from Report Ocean, the global cash flow market is forecast to grow to $24.6 billion (£20.5 billion) by 2030 with a CAGR of 10.9% from 2022 to 2030.
Read on to learn about some of the top cash forecasting solutions available to users in the UK.
Best Cash Forecasting Tools in the UK
Best for Data Modelling
Causal provides a business platform that combines data analysis and automation to provide financial planning and modelling features. Users can connect their live data from accounting systems, ERPs, CRMs and other sources for reporting, analysis and multi-dimensional financial modeling.
Platform users can incorporate multiple business entities with multiple forms of currency to create a single consolidated view within the platform. In addition, custom views and permissions ensure that stakeholders can only view the information that the user intends to share to protect sensitive data.
The software can create multi-dimensional models without duplicating work, so users can automatically track its performance against actual data. The tool also has automated capabilities, like automatic data collection, model version comparisons, performance tracking, and other automated routine processes for financial planning and analysis.
Causal’s solution supports integrations with many popular spreadsheets and systems, like CSVs, Google Sheets, NetSuite, Google BigQuery, Salesforce and more. The software comes in three forms, with a free version available with limited capabilities. Its Startup plan starts at $250 (£210) per month, and buyers can contact the company to receive a quote for the Business plan, which contains the most features.
This product is highly rated by many of its users, who have expressed appreciation for its advanced modelling capabilities. However, the system may be rather challenging to learn for beginners.
Best for Visibility
Coupa is a treasury management system that provides its users with real-time visibility and transparency into their liquidity and cash insights. Coupa Treasury contains capabilities for managing cash and liquidity, debt and investment management, forecasting, multilateral netting, in-house banking, risk and exposure management, payments, fraud protection and reporting.
The solution lets users automate their transactions, move funds, and run scenarios so they can stay on top of their funding status, maturities, interest, principal settlements, and even risks from all their data sources and counterparties. In addition, by accessing real-time data and integrating trading platforms, the system can evaluate financial activity and protect users from potential risk factors.
The reporting feature also simplifies the process of sharing data insights, as it lets users generate reports and access a custom report designer.
Coupa’s treasury and cash management solution can integrate with Coupa’s suite of BSM applications and other third-party applications and ERPs like SAP, Oracle, NetSuite and more.
Most of the online customer reviewers expressed satisfaction with the product’s ease of use and connectivity. However, some reviewers did complain about the tool’s slower speed.
Best for Managing Multiple Projects
Float is a tool that helps users with their cash flow forecasting and scenario planning so that they can make decisions with actionable insights. The solution connects with Xero, QuickBooks Online and FreeAgent accounting platforms to generate real-time visual representations of cash flow and help users understand their financial status.
Unfortunately, the solution only works with these accounting platforms at the moment, so it would not be the best choice for users of other accounting software. However, for users who opt for this product, it can provide clarity into their finances and an accurate view of their future cash based on real-time information.
The cash flow forecast can automatically sync to integrated accounting software and bank accounts so users can have insights generated from the latest data. They can even use the tool to manage their cash flow across multiple projects with maximum visibility into future cash scenarios.
The tool is priced in three tiers, with the Essential plan at £39 per month, the Premium plan at £79 per month and the Enterprise plan at £165 per month, all billed annually.
Float has positive ratings online, with an average score of over four stars on most rating sites.
Best for Invoice Management
Fluidly provides a cloud-based cash flow management solution to help businesses and accountants with their funding, cash flow forecasting, financial planning and invoice-chasing.
The software uses real-time data by connecting to users’ Xero or QuickBooks accounts and creating a cashflow forecast chart automatically. In addition, users can model scenarios based on their financial data to see the impact of their actions and gain insights from raw data.
The solution comes with a credit control tool that enables users to collect their owed late payments from debtors, as the tool grants users complete control over their invoices. And if the user needs business funding, Fluidly can match them with lenders to access tailored, pre-qualified funding offers.
Right now Fluidly only syncs with Xero and QuickBooks accounting packages for forecasting. However, people interested in purchasing the solution for their business can try it out with a free 14-day trial. After this, buyers can choose between three software plans, the Starter plan starting at £10 + VAT per month, the Standard plan starting at £49 + VAT per month and the Plus plan starting at £79 + VAT per month.
Best for Fast Data Entry
GTreasury is a unified cash forecasting platform that helps users predict future liquidity requirements and changing conditions so that they can respond proactively.
Users need only to import their internal and external transactions for GTreasury’s tool to create forecasts and apply analytics. The tool makes the process easy by letting users populate forecasts via file import, quick entry, SmartPredictions and external API.
After the data is connected, GTreasury’s technology can generate forecasts based on their data, combine forecasts, generate recurring forecasts and more. A nice perk to the tool is its fast entry for applying the tool’s forecasting capabilities to users’ data sets.
The integrated tool is a single repository for all cash flow activities, and its connectivity framework can retrieve data from any third-party system. Interested shoppers can contact the company through its website for a demo and pricing details.
Customer reviews online express satisfaction with the product for its cash reporting features. However, some reviewers complained that the product was not very user-friendly.
Best for Small Businesses
IRIS KashFlow offers an online accounting software that helps users looking to manage their books for their small businesses. The tool gives users a complete view of their finances with automatic notifications to help them keep track of payments.
The accounting software handles quoting and invoicing and can integrate with payment providers to allow multiple payment methods. Invoicing is easy and intuitive, as the tool will convert quotes into customisable invoices and can automatically send them out to customers.
IRIS KashFlow’s accounting software can also be integrated with the KashFlow Payroll solution to combine businesses’ financial and payroll management processes in one connected system. It also has partnered connections with other third-party systems for CRM, e-commerce and more.
Interested buyers can test out the product for free for 14 days before choosing between the company’s three pricing tiers, starting at £9/month + VAT.
Best for Data Reporting
Kyriba provides a liquidity management solution that is a good choice for businesses and organisations that require extended visibility and cash-centric insights into their financial activities.
The solution provides enterprise liquidity features with 100% visibility into their global data so they can generate automated reports and cash forecasts. In addition, the system represents actionable insights and information for users to view through their interactive dashboards, where users can manage their data analysis with drag-and-drop functionality.
This tool makes self-service reporting easy, as users can access pre-built KPIs and calculations to represent their data or build their own dashboards. It connects banks, trading platforms, ERPs and other data sources through Saas-based integration in the cloud, allowing the system to process real-time data. The software also updates automatically, so users can gain the benefits of the latest Kyriba system technology the moment it’s available.
Kyriba has integration capabilities with several ERP solutions, including Microsoft Dynamics, SAP S4/Hana and Oracle Netsuite. It can also be used with other third-party data sources and systems for payments, bank statement reporting, cloud platforms, marketing information systems and trading portals.
The software is rated favourably online. While several reviewers enjoyed the product’s centralisation, others found the integration process cumbersome.
Best for Risk Management
Nomentia Liquidity grants users insights into their cash flow data and positions within their entire organisation. The solution acts as a single source of truth for centralised global cash positions, automatically connecting and utilising all of the user’s data sources. It has features for liquidity analyses and reporting, connecting to banks, building data integrations, reducing risk factors and increasing security.
The product generates short and long-term liquidity forecasts and analyses scenarios by connecting data from treasury management systems, financial systems, ERP systems and all other types of cash flow data sources. This way, users can be prepared for any situation. In addition, its risk management capabilities also keep users safe, minimising liquidity risk with real-time data and credit risk with future cash position forecasting.
The solution can allow users to build data integrations with any ERP system and data sources like treasury management systems or other financial systems with cash flow data. Those interested in purchasing the product can request a pricing quote on its website.
Unfortunately, not many reviews are available online yet. Still, the solution looks promising for its risk management features and data analysis capabilities.
Best for SAP Users
Serrala offers a cash management and forecasting solution that has many automation and financial planning features for SAP users. While the tool does offer some features for use without SAP integration, like treasury process management, the system provides the most functionality and usefulness to SAP users.
Serrala’s FS² CashLiquidity solution leverages data from the users’ treasury and accounting to provide cash visibility and a detailed overview of their cash flow status. In addition, users can integrate numerous data sources like AR and AP into the system for forecasting and insights.
SAP users can also benefit from FS² eBAM, a full SAP-embedded software with central administration capabilities for users’ bank accounts, automated bank fee analysis, bank reporting management, bank communication templates, XML messaging and other features.
Another perk of Seralla’s software is that its FS² WorkingCapitalAnalyzer solution helps users manage their liquidity across all of their working capital-relevant value drivers, to help them improve their internal financing capacity.
Serrala has certified integration with SAP S/4HANA 1511 and 1709 and works to maximise the use of SAP software technology.
Buyers interested in Serrela’s software solutions can contact the company through its website for pricing details.
Best Free Option
Sheetgo uses automation to collect users’ financial data, generate forecast insights and consolidate reports. The all-in-one, no-code tool serves as a cash forecasting solution and a financial management workflow designer.
Through the system’s automated data management capabilities, users have the power to split, merge or filter their data, and control the data transferring and transformation. For example, it makes consolidating reports easy by gathering important financial data in one place to generate a clear picture.
The solution is also great for sharing financial KPIs with stakeholders by producing automatically updated dashboards that display the financial performance of the user’s organisation. Users may also use the product to create custom, scalable workflows to automate tasks.
Sheetgo can integrate with several third-party applications and data sources, including Gmail, Dropbox, Excel, Google Docs, Google Sheets and more. It is offered as a free solution with limited capabilities, or buyers can purchase individual or business plans with more features based on their needs. The individual and business plans have monthly and yearly billing options, which begin after an initial free trial period.
Sheetgo is reviewed favourably online, mainly receiving four to five-star ratings. Many customers who reviewed it enjoyed its integration options.
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