Your construction business relies on cash flow ­– you need to ensure you have more money flowing in than you have flowing out of your business to survive. Creating a cash flow forecast is a great way to help estimate your projected income and expenses so you can make well-informed decisions and keep your business on track.

Taking the time to create a cash flow forecast is a step in the right direction, but all are not created equal. Whether you create your forecast manually using Excel or use software to help automate the process, you must regularly revisit it and make updates. Opting for a software solution dedicated to managing cash flow that provides real-time cash flow analytics or one that connects your back-office data to your cash flow Excel spreadsheet will help ensure the numbers are all up-to-date. If you’re currently using Excel and not sure if cash flow forecasting software is the right investment for your company, here are some benefits to consider.