Xerosoft recommends the following top ten financial management tips for small businesses. We believe it is critical that you devote time to implementing each of these, or seek assistance if you do not have the time.

Ask yourself these ten questions and seek assistance if you believe Xerosoft CFO Services can help you build a sustainable business:

• Do you schedule time each month to thoroughly update, review, and comprehend your financial performance?
• Do you fully comprehend your financial statements and understand how to use them to assess your financial performance and position?
• Do you use financial analysis software to bring your numbers to life and assist you with budgeting and forecasting?
• Do you have a handle on your current and future cash inflows and outflows, so you’re never caught off guard and have enough cash to fuel your business plans?
• Do you have a financial target/ budget framework in place that aligns with your business goals and defines your plan to grow? 
• Do you have a financial forecast in place to anticipate and plan for problems, as well as to ensure your cash position is adequate to support your short-term plans?
• Do you have a financial forecast in place to anticipate and plan for challenges, and to ensure your cash position is sufficient to support your short-term plans?
• Do you regularly review your expenses and pricing to ensure you’re making the most of your money?
• Are you devoting too much time to non-core business activities such as bookkeeping and financial analysis, distracting you from the activities that will generate the most revenue?
• Do you believe you require assistance in improving your financial literacy and financial management so that you can confidently engage with your stakeholders and ensure the future success of your business?