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Why cash flow is king in this year’s UK Roadshow

Posted 8 months ago in Xero news by Edward Berks
Posted by Edward Berks

The UK Roadshow is back and will run from 8 May to 11 June, visiting 11 cities across the UK.

Research conducted by Xero shows small businesses are struggling to stay cash flow positive with many turning to their accountants for advice and guidance. 

With that in mind, we’ll be running a session that’s dedicated to helping you branch out into cash flow advisory and for the first time ever, we’ve teamed up with two cash flow app partners, Fluidly and GoCardless, to co-host this session.

Below we outline why cash flow matters and what you can expect from the session…

Why is cash flow so important?

It’s no secret that healthy cash flow can make or break a business, regardless of the size or industry.

Yet, it’s an area in which many businesses still need help. Research conducted by Xero shows that, on a month to month basis, barely half of small businesses are cash flow positive.

We know the right apps can help businesses stay on top of their cash flow and succeed but many don’t know where to start.

These enterprises look to their accountants, their most trusted advisors, for guidance on the tools they should implement, however many accountants are yet to expand into this advisory field.

There is appetite though: 52% of Xero partners say they want to branch out into app advisory services so we’ve dedicated this year’s Roadshow to cash flow.

What can partners expect to learn from the cash flow session?

Our morning cash flow session is designed to set you up for success. Some of the lessons you’ll walk away with are:

  • What cash flow advisory is
  • The benefits of providing these services to your clients
  • How to implement cash flow services in your practice (based on tried and tested methods)
  • A list of core apps to get you started including Fluidly, GoCardless and a selection of others to help you with data capture, forecasting and much more.

How can Fluidly help with cash flow?

Fluidly helps business owners sleep better at night by forecasting and optimising cashflow – giving them control, certainty and confidence for the financial future.  

Fluidly uses Artificial Intelligence (AI) to do the heavy lifting, so forecasts are produced from the Xero data in seconds and are always up to date. They help businesses understand what will happen in the future so they can anticipate problems before they happen and seize growth opportunities.

Fluidly and Xero share a vision of how we can use data and technology to enable the accounting practice of the future. Fluidly provides accountants with all the data they need to offer cash flow advisory at scale.

Commenting on the partnership, Caroline Plumb OBE, Founder of Fluidly said, “We’re so thrilled to team up with Xero for the roadshow events! Together we’re excited about improving the financial health of thousands of small businesses all over the country.

“It was great to be recognised as the Xero Emerging App Partner of the Year 2018 and we’re one of the fastest growing app’s on Xero’s marketplace. We’re really excited to get to speak to many more Xero accountants at the roadshows and help them drive cashflow advisory.”

How can GoCardless help with cash flow?

GoCardless takes the pain out of getting paid by helping businesses to automate payment collection from their customers. Rather than spending time chasing unpaid bills and worrying about their cash flow, GoCardless means businesses can focus more on what they do best.

Designed to modernise the Direct Debit system for the digital age, GoCardless is perfect for collecting invoice payments of variable amounts, subscriptions and fees. Furthermore, by integrating with Xero, GoCardless allows users to reconcile payments with a single click.

“We’re excited to have joined forces with Xero, with over 15,000 Xero users improving their cash flow and reducing their admin by using GoCardless,” said Rachel Astall, Head of Small Business Partnerships at GoCardless.

Having been recognised as Xero’s App of the Year for the second year in a row, the partnership between GoCardless and Xero is going from strength to strength.

“The way businesses get paid is fundamental to the health of their cash flow. Incredibly though, in a world of digital innovation, most independent businesses still rely on manual, antiquated bank transfers or paying over the odds on card transactions for their invoice payments. We’re here to change that.”

Places are going fast at the Roadshows so make sure to register for your free ticket now.

Find out more about how to choose the right apps for your firm and clients with Xero’s new cash flow app advisory playbook.

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