Cash flow management is the staple of running a successful business.
From helping you track your expenses, organizing your finances, and making informed decisions, it provides an invaluable business asset.
But with so many tools on the market, how to know in which direction to go?
We’ve curated a list of the 5 best cash flow management tools, which will be a great starting point and facilitate your financial planning and management.
Let’s dive in!
What is a Cash Flow Management Tool?
A cash flow management tool helps you monitor, analyze, and manage your cash inflows and outflows effectively.
It provides real-time visibility into your cash flow, automates financial processes, and streamlines cash management tasks.
This way, you can make data-driven decisions to optimize liquidity and financial stability.
What Should You Look For in Cash Flow Management Tools?
Cash flow management tools offer a centralized platform to streamline financial processes, making them an efficient asset in achieving financial stability and growth.
Still, they come in many shapes and sizes, and one solution may offer different features.
Nonetheless, there are a few major things you should pay attention to when choosing the right cash flow management tool for your business.
- Ease of Use — Solutions that are easy to set up and use and minimize the learning curve are great to get acquainted with the tool and its capabilities.
- Integration capabilities — Check if your solution integrates with accounting software, ERP systems, payment processors, and banking platforms to centralize financial data and automate data syncing.
- Real-time Analysis — Analyze financial data, trends, and KPIs to gain insights into business performance and make informed decisions.
- Real-time Reporting — Generate customized financial reports, cash flow statements, balance sheets, and income statements.
- Automation — Various automation options, such as invoicing and payment processes
- Forecasting —Generate accurate cash flow forecasts based on historical data, receivables, payables, and projected income and expenses.
5 Best Cash Flow Management Tools You Should Check Out
Let’s quickly check our top tools and their key features.
*All pros and cons are based on the G2, TrustRadius, and Capterra reviews reviews.
1. Puls Project
Puls Project is an all-encompassing financial management tool that helps SMBs benefit from the advanced capabilities and:
✨ Enhance financial management, oversight, and operational efficiency in multi-banking environments.
✨ Get tools to manage loans effectively and
✨ Simplify financial management through accurate cash flow planning.
The system covers 3 major cash flow management categories: Multibanking, Loans, and Planning, thus providing a centralized solution for all financial operations.
Another impressive feature is that Puls lets you connect any bank account from over 4000 banks.
In addition, you can connect and manage multiple accounts without switching tabs.
Key Features Regarding Cash Flow Management
1. Multiple-banking features
🔥 Categories Assignment — You can group financial activities across multiple banks and companies and see and track all the expenses, spend optimization, etc.
🔥 Assign labels to transactions for grouping financial activities based on criteria such as project, department, or purpose for a clear overview.
🔥 Unified Account Management — Allows you to centralize and manage all your bank accounts and companies from one place.
🔥 Track profitability — Analyze profitability over any time period by label, category, counterparty, company, or account to see how you perform.
2. Loan Features
Credit Limit Calculation — You can get up to $100000 credit within at least 48 hours based on group level and after connecting your bank account.
🔥 Cash flow monitoring — If your plan has a cash gap, our system will immediately detect and highlight it so you can transfer funds to close the gap.
3. Planning Features
🔥 Centralized Financial Management — Manage all your financials in one secure place and track balances and spending across different accounts and companies, all within a single app.
🔥 Automated expense tracking — If you input your regular monthly expenses once, our system will automatically display them the following month for a more comprehensive view.
🔥 Enhance Credit Limit — The more accounts you connect, the higher your credit limit will be based on regular planning of incomes and expenses.
What Makes Puls Project Special?
Puls Project’s extraordinary multiple-bank connectivity backed up with accurate real-time data provides a valuable asset in easier and error-free decision-making.
2. Kolleno
Kolleno is a cash flow management tool that centralizes and automates receivables, payments, and reconciliation.
Its main solutions fall into the following categories:
- A/R Automation — Streamlines operations and creates a prioritized list of daily to-do tasks based on urgency.
- Clients Payment Portal — Offers flexible payment options to your clients, from credit and debit cards to open banking.
- Automated Reconciliation — Standardises the reconciliation process and accounts for potential discrepancies.
- Collection Workflows — Enables custom workflow creation for each customer segment.
- Task Management — Allows cross-functional collaboration.
- Analytics & Reporting — Provides access to various reports and metrics.
Kolleno integrates accounting software such as NetSuite, Intuit QuickBooks, and Microsoft Dynamics 365, as well as payment processing systems like Stripe.
Key Features
✨ A/R Management — Enables access to a centralized timeline of all accounting data and communications with your customer, including payments, invoices and notes, etc.
✨ Cash application — Let’s you receive suggested payment matches based on a comprehensive scoring system to expedite your reconciliation process.
✨ Management-pack-ready reports — Schedule and receive reports in your inbox, including aging analytics, customer insights, and payments and collections.
✨ Progress tracking — Monitor your reconciliation progress and track the remaining transactions that require attention.
✨ Automated payment reminders — Automated workflows with scheduled payment reminders, which you can adjust with automated triggers.
What Makes Kolleno Special?
Kolleno primarily automates and optimizes accounts receivable processes and all the accompanying parts.
3. Jirav
Jirav is a reporting and planning solution catering to accounting firms and SMBs. It provides solutions to help you plan and forecast in alignment with business goals.
Besides financial reporting and forecasting, it provides budgeting and scenario planning tools.
Regarding integrations, Jirav integrates with multiple platforms spanning Accounting, Operational, Workforce, and other categories.
Key Features
✨ Reporting — Offers pre-designed templates that include customizable 3-way financials, reports, pre-configured income statements, balance sheets, etc.
✨ Scenario Analysis — Allows you to compare budget vs. actuals to create multiple scenarios.
✨ KPI Library — Measures performance across various periods and planning scenarios.
✨ Auto Forecast — Uses AI to analyze past performance and predict the future.
✨ COA Customization — Customizes the Chart of Accounts to match your client's reporting and planning requirements.
What Makes Jirav Special?
Jirav provides various reporting options within a single platform for small to medium businesses.
4. Tesorio
Tesorio is a finance operations platform that focuses on automating workflows for collections, cash application, and cash flow forecasting.
Its core value is that it wants to minimize the effects of the so-called Cash Flow Disconnect by unifying all operations for easier cash flow management.
Tesorio integrates with ERPs, CRMs, billing systems, data lakes, etc.
Key Features
✨ Unified Bank Account Reporting — Access all bank accounts and transactions from a single interface.
✨ Cash Forecasting — Provides full visibility into your cash flow to accurately forecast your financial position.
✨ Accounts Payable Forecasting — Helps you anticipate cash needs, identify trends, and make proactive financial decisions
✨ Cash Reporting & Analytics — Gain insights to track performance, identify opportunities, analyze cash positions, simulate scenarios, etc.
✨ Self-serve Payments — Enables clients to view invoices, reference payment history, and easily submit disputes or inquiries.
What Makes Tesorio Special?
It provides multiple solutions to deal with the Cash Flow Disconnect by unifying all operations to provide real-time visibility into cash flows.
5. HighRadius
HighRadius is a Fintech solution that offers AI-driven solutions to help businesses automate cash management processes.
Its core set of features has 5 categories:
- Order to Cash — Solutions for Collections Management, Cash Application Management, Deductions Management, etc.
- Treasury & Risk — Solutions for treasury payments and cash forecasting
- Record To Report — Solutions for Account Reconciliation, Financial Close Management, etc.
- B2B Payments — Options for payment gateways and Surcharge management.
- Accounts Payable — Automation of AP operations.
HighRadius integrates with ERP systems, credit agencies, payment partners, banking partners, and other third-party apps.
Key Features
✨ Cash Transaction Explorer — Records and manages planned cash transactions in one place.
✨ User-Defined Templates — Allows you to create custom cash position templates based on cash flow category, bank account, currency, etc.
✨ Instrument Management — Enables you to create, track, and manage Debt and Invest deals in one central location.
✨ Scenario Analysis — Allows you to create scenarios by modifying cash inflows, outflows, FX rates, and other variables.
✨ AI-Based Invoice Data Capture — Extracts invoices from images, PDFs, and auto-code invoices.
What Makes HighRadius Special?
It provides robust AI solutions for AR and Treasury, focusing on credit management and collections.
What is The Best Cash Flow Management Tool for Your Financial Operations?
The list we’ve prepared hosts stellar solutions to help you better organize and manage your cash flow.
Still, amazing as they are, most of them focus on only one or very few aspects of cash flow management.
Most of them but one — Puls Project.
Our cash flow management tool adds another layer: loan option.
Loans play an essential role in cash flow management because they bridge the gap during periods of low revenue or increased expenses.
Thus, with Puls Project, you can cover each cash flow management step, from tracking and monitoring your operations to enhancing your liquidity.
🔥 Safely play multiple cash scenarios and get accurate forecasts.
🔥 Get more funds in case your current loan doesn’t cover your expenses by connecting an additional bank account.
🔥 Manage your financial operations without switching between different banking platforms.
Enticed to dig deeper?
Sign up for Puls Project today to achieve financial stability and growth.
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