For many startups and scale-ups financial administration is clunky and time-consuming. Seeing your revenues increase is exciting, and nobody wants to do expenses, invoicing, payroll, and financial reporting manually. These practices are complicated and outdated. Fintech solutions have modernized the way we do finance and for all types of businesses help significantly streamline financial processes.

In a time of economic uncertainty, it is even more important to have control and visibility of your business expenses. Research we conducted earlier this year among Dutch SMBs shows that 37.6 per cent of them don’t have a good overview of their expenses. And with a lack of overview, you can’t fully control your financial situation. 

Working for a scale-up myself, I know the tension between cash management and growth. While we are globally experiencing the impact of macro-economic factors beyond our control, some key common practices can and should be upheld to ensure we ride out the storm. It is always important to never lose sight of your North Star: your growth strategy.

There are a number of other very important factors to keep in mind: 

Always forecast

Making your projections as reliable as possible will not only give you a better picture of your company’s financial health but also make clear how money moves in and out, ensuring you avoid surprises and can spot trends faster. It also aids in making more informed decisions that will drive growth further down the line. 

How to succesfully outsource…

…your recruitment or product development with our curated community partners!

…your recruitment or product development with our curated community partners! Show Less

Leave a Reply

Your email address will not be published. Required fields are marked *