By Jason Sullock, New Customer Marketing Manager, Sage
Accurate forecasting is essential to establish the financial health of your business and its place in the market. It can help you remain solvent and improve your future prospects, allowing your business to experiment with different scenarios, using real-life data to see the potential implications of decisions without taking any risks.
Sage’s white paper ‘ Forecasting’, lets you explore how effective forecasting will help you set achievable long-term goals for your business. By combining your business plan, your annual budget and your short-term forecasts, you can make tactical decisions and manage your cash flow to achieve your long-term goals.
Discover, in great detail, how forecasts can be understood as three distinct types. Profit and loss account forecasts use sales forecasts to break down variable costs, placing these against projected fixed costs to forecast profit. Cash flow forecasts are often derived from profit and loss account forecasts. They take into account timing lags between a sales transaction taking place and monies clearing in real time. Finally, balance sheet forecasts use the two other types of forecasts to manage raw materials, components, work in progress and finished stocks.
The white paper also provides an overview of how specialist forecasting software can benefit your business. With in-built databases for your company’s unique information, forecasting software can process whatever level of detail you require and produce flexible, accurate forecasts.
The Sage ‘ Forecasting’ whitepaper will help you discover the innumerable benefits of forecasting. It will improve your business’s profitability and its solvency, making your finances more efficient, reducing the costs of storing stock, and providing you with a better overview of your company.
Download the whitepaper now – 'Forecasting'
Watch the video below featuring Sharon Coull, Head of Finance, Small Business Division at Sage on how to manage your cashflow
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