small business financial forecasting software

The Benefits of a Small Business Financial Forecasting Software

Small businesses need a plan to support their future growth, and intelligent budgeting and business financial forecasting software can help. By delivering strategic forecasting tools and SMB solutions to your small business clients, financial institutions can deepen relationships with these growing businesses and assist them in planning for the future.

Why is Small Business Financial Forecasting Software Important?

Accurate financial forecasting offers many advantages for you and your small business clients. Software that empowers financial forecasting and planning can inform smart business decisions and new opportunities that inspire financial wellness and growth.

See Where SMBs Are Headed and Course-Correct As Needed

The right financial forecasting software solution can deliver a holistic view of a company’s financial position and help you and your SMB clients to determine where their business is financially heading. These detailed views allow them to make course corrections ahead of time to avoid running into cash flow issues. It also enables SMBs to allocate additional funds where they may be needed.

Intelligent Budget Forecasting Leads to Better Decision Making

As one of the most useful tools for SMBs, budgeting software can help small and medium-sized businesses proactively manage their spending and enhance their financial health. With software that suggests budget amounts based on past and current business and financial and transaction data, SMBs can gain critical insight into their spending behavior. A budget forecast is vital for helping you and your SMB clients look forward, anticipate cash flow needs, and make strategic data-driven plans and decisions.

Set Realistic Business Goals

By taking the SMB’s business budget into account, financial forecasting software can help small businesses set realistic and attainable goals. Intelligent software can also deliver a dynamic view of spending and the details SMBs need to understand how they are performing relative to their goals. With a clear and consolidated picture of their financial situation, SMBs can better align their resources to achieve their goals.

Explore the Benefits of Financial Scenario Planning

As a critical part of SMB decision making, financial scenario planning tools can help you and your SMB clients model different financial scenarios and see what the outcomes could potentially be. This allows your SMB clients to elevate business planning and explore the best financial route for their business to help move their company forward.

Acquire Additional Funding for Their Business

Timely cash flow management is vital to SMB operations. Financial forecasting tools make it easy for investors and lenders to get a real time picture of an SMB’s financial situation for informed investing and credit decisions and targeted lending offers. Accurate cash flow forecasting can enable SMBs access to faster and fairer finance from a greater selection of lenders. These tools can open the door to strategic conversations about growth and partnership between SMBs and financial service providers and help SMBs lock in investor funding.

How Financial Forecasting Software Works

By integrating data from small businesses’ existing accounting software and across all the applications small businesses use, Envestnet | Yodlee SMB solutions can enable financial modeling and project SMB growth to help SMBs plan for the future. Based on a holistic view of SMB business and financial data that includes held-away financial data, financial forecasts can help you and your SMB clients better understand their current financial position and gain valuable insights to help you deliver strategic advice and solutions, deepen engagement, and build trust between financial service providers and SMBs

What Types of Forecasting Can You Create?

Various types of financial forecasts can be created with Envestnet | Yodlee’s forecasting software. These can potentially include financial statements such as balance sheet forecasts, income statement forecasts, budget forecasts, cash flow forecasts, and more.

Why Choose Envestnet | Yodlee?

Next-generation financial experiences are born from Envestnet | Yodlee's Financial Data Platform. As the leading data aggregation and data analytics platform, we offer intelligent data solutions and tools to deepen SMB engagement and uncover new opportunities for you and your SMB clients. Our innovative tools, technologies, and services solve urgent financial industry problems, strengthen partnerships between financial service providers and their clients, and help improve the financial lives of small business owners.