CFOs have a crucial role in the firm’s corporate strategy but are also held responsible for forecasting the firm’s cash flows and revenues. This creates the challenge of enforcing reality into the projections and expectations of others, while monitoring actuals achieved versus committed. Inaccurate cash flow forecasting can prove incredibly problematic when trying to secure external funding. A clear projection of future cash flow means CFOs are better placed to limit the need for external funding, whilst minimising the cost of necessary funding. CONVENDIA aims to make these responsibilities easier for CFOs, here are just some of the ways it does this:
- ‘What-ifs’ and other scenarios can be modelled to see long term effects on cash flow
- Reduction of subjectivity (by basing forecasts on objective data in your systems)
- Revenue recognition can be monitored to ensure compliance with regulation.
CONVENDIA greatly improves the fact-based analysis that a CFO needs to make the right recommendations and forecasts. It can analyse the ‘What-Ifs’ for cash flow, recognised revenue and shareholder value, accounting for variations in the projections by using objective real-time information. CONVENDIA gives the CFO an invaluable set of tools to be able to model the financial implications of decisions he or she makes or recommends to a board, or the achievability of forecasts the CEO makes to investors and shareholders. CONVENDIA leverages these features in order to achieve this:
- Analysis is fact based, automated and reliable. Less guessing, less fudging.
- Higher accuracy/reliability in forecasts makes cash and funding more obtainable
- CONVENDIA is fully compliant with local regulators and governing bodies.
- It saves time (the one thing you cannot buy more of).
CONVENDIA encourages transparency in a firm by giving sales teams, CXOs and Board members the ability to speak a ‘common language’ and automate the monitoring of cash flow in real time, removing financial fog. If a CFO can create a reputation for reliable forecasting by leveraging audited, timely and accurate metrics, their role becomes less stressful, work becomes more efficient and of higher accuracy.
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