Today, we’re expanding on our Loan Amortisation Rule functionality to help you take cash flow forecasting to the next level. Read on to learn how Spotlight Forecasting’s latest update will open up opportunities for you to work alongside your clients to help them achieve their growth goals.
Help your clients secure funding and optimise repayments
Forecasting is near and dear to us at Spotlight, and we’re firm believers that every business deserves a forecast. It’s not just a nice to have – it’s essential to managing cash flow!
"One of the biggest problems I've found in regards to cash flow forecasting is sheer ignorance. If accountants aren't doing cash flow forecasting for their clients, they're missing out on a huge opportunity to deepen their relationships and add value. With Spotlight Forecasting, we're trying to empower accountants to provide a future view to solve many of the challenges that businesses face."
Richard Francis, Spotlight Reporting CEO and CA
Giving your clients a realistic, timely and actionable forecast is essential to keeping a business growing and/or surviving. In order to keep going, we recognise that a large number of businesses need to secure funding. It’s also important that both new and existing business loans are optimised in the best possible way. That’s why we were excited to launch the Loan Amortisation Rule into Spotlight Forecasting last year – it’s been instrumental in helping advisors prepare full three-way cash flow forecasts to help businesses achieve their growth plans. Fast forward one year and we’re delighted to launch expanded Loan Amortisation Rule functionality.
Say hello to a more flexible Loan Amortisation Rule
No two loans are alike – the loan terms, interest rate and amount are tailored to the needs of each business. Today, you’ll notice new capabilities to the existing Loan Amortisation Rule that will make it even easier to create forecasts and/or scenarios that take into account many different loan variables.
“I’m thrilled to launch the second iteration of Spotlight Forecasting’s Loan Amortisation Rule. As we’ve said before, every business deserves a forecast, and this additional functionality will provide advisors with another opportunity to deepen relationships with clients and to add value.”
Julie Francis, Spotlight Reporting CFO and Product Owner
The Loan Amortisation Rule is a deceptively straightforward solution that will impress your clients, help them achieve better outcomes, and save you time.
Ready to get started? Here are two of our favourite ways to take advantage of the functionality of Spotlight Forecasting and the Loan Amortisation Rule:
1. Secure funding
If your client is looking to secure funding, apply the Loan Amortisation Rule to a hypothetical loan to visualise the cash flow impact of different funding and repayment options.
Equipped with this information, you’ll be able to help your client present an attractive proposition to a lender that tells the story of a healthy business with good prospects and the ability to repay the funding.
"We created a Spotlight Forecast – then I met with the client and NAB. Ten days after meeting, the client had a credit approved discussion paper for a facility of more than $11M to fund the project."
Ryan Richardson, Partner, TNM Consulting. Read Ryan’s story.
2. Optimise repayments
Does your client already have a business loan? What your clients might not know is that an existing loan they secured in the past could be relatively expensive in the present. This is an opportunity for you to work through different loan scenarios to improve the impact on your client’s cash flow. In Spotlight Forecasting, you can use Scenarios and the Loan Amortisation Rule to easily show the impact of selecting different loan variables.
Get started with the Loan Amortisation Rule and Spotlight Forecasting
If you’re after a head start, here are two tips to help get you going:
- Watch our 'Getting started with Loan Amortisation' video.
- If you’re after step-by-step instructions take a look through our help guide.