Why do 36% of SMEs find it an uphill battle to balance income and expenses? Because you’re so busy running your business, it’s difficult to find the time to gain a realistic perspective on financial health. That is until now.
Understanding your business’ financial health doesn’t have to be hard. Especially when you have the right tools to make it easier. With just a few clicks, PayPie makes seeing the variables that affect your bottom line simple and intuitive.
“Financial health comes about when your daily systems help you build resilience and pursue opportunities.”
—CFSI’s Small Business Working Group
While only 39% (less than half) of small to medium-sized enterprises (SMEs) really understand the factors affecting financial health — 100% of business owners are involved in day-to-day and long-term decision making. But, if you aren’t aware of your current financial standing, it’s nearly impossible to plan for the future.
PayPie’s fully automated financial analysis features a cutting-edge algorithm that analyzes numerous data points — journal entries, debits and credits, bank account statements, average invoice size payment rates and more — taken first-hand from your QuickBooks Online account.
This information is then presented in an easy-to-use interactive dashboard that includes an in-depth profile of your business’ financial health along with a recap of your income statement, cash flow statement and balance sheet.
Running a routine financial analysis is like putting on a new pair of eyeglasses. Suddenly, everything is in perspective. Once you know which key metrics to monitor, you can better assess strengths and weakness and track patterns over time.
When combined with the cash flow forecasting within the PayPie dashboard, you’ll be more in control of all the aspects that go into keeping your business running. You can hold firmly to the steering wheel, press the accelerator when needed and be warned when you need to break.