Fluidly withdraws its Cashflow Forecasting Offer
One of the most important areas to keep a close eye on in any business is the cash situation, so we’ve long been advocates of cash flow monitoring. With that in mind, we promoted Fluidly to clients before the pandemic, as a really useful and free way to keep that close eye on your cash flow, so we’re disappointed to hear that they are withdrawing their system at the end of April. This applies to both the free and paid options.
Of course, any business evolves, and Fluidly has been acquired by OakNorth Bank so now seems to be moving in a different direction.
Access will be stopped at 5pm on Friday 28th April 2023.
If you’re a Fluidly user, you’ll need to identify an alternate option, and get that in place in good time. We’d suggest running the old and new systems in tandem for at least a few weeks to test your understanding of the new solution and ensure you’re getting similar results.
As with many of the bolt-on Apps, there are several options! Each offers a slightly different approach, and none is a straight replacement, but we’d recommend having a look at the following:
Xero also has its own offer now, which it is still developing. Sadly, it’s not quite at the Fluidly level just yet, so to use it would be a step back.
Our preferred option…
Float is our preferred option, and the closest to Fluidly in terms of features, but adds many more besides, including scenario planning. This can be really helpful if you’re considering big changes in your business, such as recruitment, new services or similar.
The video below gives you a quick tour of the App:
A series of three Float training webinars will help you get the most from any free trial, or from the system when / if you decide to use it. There are also video resources, a helpful monthly newsletter and various business guides and help articles that you can refer to for more support under the ‘Resources‘ tab on the Float website.
Sadly, each of the options shown above is chargeable, without a free option, which may go some way to explain why Fluidly has withdrawn from the market! The monthly cost for any of them would be a jump from the free Fluidly option, but would give you access to a lot of extra information about your business. This would be valuable at any time, but particularly in a challenging economy. Add any big decisions you may be looking at in the coming months and the value increases dramatically.
Aside from the scenario planning mentioned above, each of these enables you to look well beyond Fluidly’s 90 day forecast period, which may enable you to identify funding gaps, compare your Budget against actual performance in the business and deal with any seasonality that may affect you.
If you’re currently a Fluidly user, we’d recommend having a look at the options and perhaps signing up to a free trial to see how you find the extra functionality. If you’d like to chat through your thoughts, as always, please get in touch.
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