How ESP is shifting clients’ perception of cashflow forecasting with Fluidly

ESP Business Solutions are an accountancy firm based in Grantham with a strong focus on business growth. They pride themselves in providing jargon-free, straightforward financial advice and offer cashflow advisory to a range of long-standing clients.

We caught up with Emma Freegard, a director at the company, about ESP’s approach to cashflow advisory and how it’s using Fluidly to help clients see cashflow forecasting in a new light.

Offering a scale cashflow forecasting solution

When we spoke, Emma told us how the team at ESP were keen to scale up the cashflow management support its offering clients. She explained how a tool like Fluidly was enormously helpful when it comes to client management, as it helps to bring cashflow to life. Not just that, it helps underline how essential it is to monitor your cash situation continuously, instead of just periodically.

“We’re keen to offer cashflow advice on a more regular basis,” Emma said. “Business people aren’t always numbers-driven. And having something pictorial, rather than just plain numbers, can get clients to engage more. It really helps people understand how you’re trying to help them drive their business.”

Starting with client education

A key part of cashflow advisory is “making sure [clients] understand the basics,” Emma added. This often starts with getting a foundation in place, like ensuring they’re using Xero or another cloud accounting platform, so they can make the most of a tool like Fluidly.

What other activities can ensure a strong financial foundation? Again, it all comes down to to continuous observation and accurate, up-to-date figures. Emma explained how at ESP, they actively promote accounting best practice: “we provide clients with guidance around reconciliation and a checklist of actions they should be completing on a weekly or monthly basis.”

The importance of showing value

But perception shifts around cashflow aren’t going to happen overnight. That’s why ESP starts slow when it comes to cashflow advisory, only expanding once they have demonstrated true value and business growth to clients.

It all depends on how quickly the client understands that cashflow management is worthwhile, rather than “a business cost, like traditional compliance services,” Emma explained. “We take a staggered approach, beginning with quarterly meetings, moving onto monthly and then continuous monitoring.”

Results

Fluidly helps ESP kills two birds with one stone – not only can it start reaching more clients more frequently, it can start upskilling clients too.

Fluidly would like to thank Emma Freegard and Wayne Searle at ESP for taking the time to chat with us.