Cash Flow Management is not an optional service offering

Posted 05 March by Barb Easter in Accounting, Budget, Cash Flow, Videos

The overwhelming anecdotal and quantitative evidence is clear: cash flow forecasting and management is a highly useful offering to the majority of your clients, just as is compliance work.

Why then, do we allow clients to dictate whether they ‘need’ cash flow management when there is clear evidence that they do?

Transcription:

Hi there, Barb here with Dryrun from Edmonton, Alberta, Canada.

We’re cash flow forecasting software.

I feel like I am dropping a series of truth bombs on people these days.

So today’s truth bomb, is that cash flow advisory and management is not a discretionary service.

OK. So if you’re watching this video, means I have your attention.

I need you to just sit and think about something for a moment.

All right.

If you went to the doctor and after telling the doctor your symptoms and the doctor prescribed a course of treatment, would you then turn to the doctor and say, no I don’t think that’s what’s going on with me and I’m not going to take your advice.

Of course not.

Number 1, it’s rude.

Number 2, we understand that when we go to the doctor our issues are serious enough that it’s not a discretionary interaction.

OK why then do we allow our business clients to tell us whether they need or don’t need cash flow forecasting?

The ideas is preposterous and goes against their best interests.

I’d take that one step further and say hey, you know what?

If it goes against their best interest then it’s in my professional scope to tell you about the services that could help you.

Mitigate risk in your business or move to a stronger place financially within your business or accomplish your business goals.

OK. So that’s the purpose of forecasting and management.

I actually just cannot even, with people who come up to me and say oh, my clients tell me they don’t need that.

OK, we’re beyond that, and so, you know Dryrun’s reason for coming into being was that there exists a vast market for a tool which collects and navigates data quickly, allows the financial advisor to do some gymnastics and basically take their client by the hand.

Lead them step by step toward it’s not supposed to be a long range plan.

A step by step towards their goals as the future unfolds.

So, a series of rolling forecasts. Not my client needs this or doesn’t need this, not the bank needs this or doesn’t need this, ok, not prescribed by them but actually prescribed by you.

In a nut shell, Dryrun can help with budgeting, cash flow forecasting, definitely scenario planning and cash flow management.

To that end I guess pricing review, data review, tax impact, debt and capital review.

So this has been a pleasure and I hope that you are the doctor that prescribes what your clients need.

If you need more help or assistance I’m available at barb@dryrun.com

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