On May 7, 2020, we held a webinar featuring Chris Arndt of ORBA Cloud CFO Services.

Chris discussed how companies can create a dynamic cash flow forecast and budget cycle, get more granular with payables and receivables, and how cash can be managed differently based on five common business models.

Below is a recording of the webinar.

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  • Chris Arndt is the Director Cloud CFO Services at ORBA.  He has a background in accounting and is a CPA

  • Cash is King

    • Every business needs cash regardless of size, industry and cash is harder to get today

    • Understanding cash flow is critical your business

    • Creating a battle plan to keep cash are essential

  • Five Business Models

    • Software as a Subscription (SaaS) – recurring revenue model

    • Multi-Channel Product – Any product type of business

    • Service-Based – People based service company

    • Marketplace – Putting two components together and take a fee when the transaction takes place

    • Real Estate & Investment – Source capital and invest it and make money for their clients

  • How Clients are Surviving/Thriving

    • SaaS: Client is giving more value with their Q2 renewals, deferring the renewals or offering discounts for full annual payments.

    • Multi-Channel: Wholesale reliant client is building their brand with social media with customers, can leverage in future with wholesalers.  Another option is to discount stale inventory even at cost to free up cash

      • Brands that do not feel they can discount due to being a premium brand, consider it with messaging regarding the time and good will

    • Service-Based: Strengthen relationships with client and team which sets up for recovery and even gain market share with developing content for inbound leads

    • Marketplace: Focus on new users, building top-of-mind awareness and halo and offered a lower exchange fee to help those in need, but with higher volume that has offset discounts and generating cash

    • Real Estate & Investment: Using the environment to invest and increase their market share and working with lenders on loan deferrals to offset costs to conserve cash

  • Is the Cash Forecast Dead?

    • At least the old way of doing it which was:

      •  An annual exercise full of guesses

      • Based on high level goals

      • Static and rigid

      • One scenario based on best guesses

    • Even the biggest companies in times like this you cannot get away with this

  • Now is not the time to focus on the P&L, dive into the details, but keep it simple

    • While the P&L can be helpful if your company’s accounting method is cash (versus accrual). For those that are accura, the P&L can be misleading

  • Best Practices – Dynamic Cash Forecast

    • How often should I prepare a cash forecast?

      • Traditional: Annually

      • Dynamic: Monthly, Weekly or Daily (monthly is general standard)

    • Who should be involved with creating?

      • Traditional: Executives, summary data

      • Dynamic: Tactical managers (including controller), transaction level detail

    • How to keep it useful and current?

      • Traditional: Unlinked data, one scenario

      • Dynamic: Link timing of in/outs flows, 3As scenarios, know revenue/expense ratio

  • What the future holds: Understand by using a dynamic cash forecast, you can make better decisions for your company, in both good and bad times.