For Timely and Accurate Cash Flow Forecasting, Look Toward the Past

In 2017, nearly every business uses some type of cash flow forecasting system. Estimating future costs and revenue accurately is crucial for any company hoping to manage inventory, marketing, staffing, and financial management successfully, after all. Unfortunately, many businesses stick with legacy solutions for much longer than they should. If you are currently running cash flow predictions on a pre-2010s system -- or, worse, on Microsoft Excel -- then you are probably guilty of this. How can you tell if your current cash flow predictions are making the grade? The best method of answering this question is to take a long, hard look at the past. If the predictions your forecasting system made for years gone by didn't match up with the reality of the situation, then the odds are pretty low that your system is going to suddenly get better -- especially in the face of an increasingly complex modern market.
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