Your business needs cash to operate effectively. When you process payments electronically, though, you may not always have access to your revenue stream. Purchases take time to drop to your bottom line, and when you have regular payroll and other payment obligations, along with emergencies that arise, the timing is not always convenient. You need access to your incoming receipts, sometimes immediately. Nuvei's Express Funding program takes some of the uncertainty and stress out of your cash needs by giving you access to what you need when you need it.
Plan for Your Cash Flow
Managing your cash flow requires that you understand it first—both your intake and your outlays. To get a handle on your cash flow, you should approach it both prospectively and retrospectively. Plan for what you need to spend by fixed expenses. Look at your expected receipts, based on past performance and examining your lease and other contracts, your payroll needs, and your other current business flow. The more you can understand about these, the more effectively you can plan and evaluate spending needs.
Examine Past Performance
Your plans need to match reality. For this reason, you should also take stock of your spending and revenues as they occur. How far off have your expectations been, in terms of both spending and revenue? What can this teach you for your forward-thinking planning, and what can you do to improve? By moving between your prospective and retrospective analyses, you can plan more effectively for your future needs.
Manage Your Scaling and Your Emergency Funds
Planning and performance analysis can take you a long way. Sometimes, though, your business changes. You may have emergency needs: malfunctioning equipment, sudden hiring needs, or even a pandemic that cuts into your revenue stream. Similarly, you may discover changes in demand that require you to boost inventory, add people or equipment, or otherwise lay out unexpected cash quickly. When these events occur, you need to be ready. Credit spending and reserve funds may be available, but often small businesses need to look elsewhere.
How Nuvei Express Funding Helps
Nuvei is an experienced payment technology partner dedicated to serving its clients' cash flow needs. With this in mind, we offer our Express Funding product to help in cash flow crunches. This product gives your business immediate access to your payment receipts, seven days per week, with funding usually hitting your account within an hour. It allows a simple sign-up and a seamless process designed to connect you to your money much more quickly than it would otherwise be available to you. We provide transparent reporting of advances and associated fees so you always know where your money is moving.
When you manage your cash flow well, you can prepare better for the surprises that arise. If you need immediate access to funds, Express Funding from Nuvei gives you the liquidity you need to survive and grow. Learn more about Nuvei's Express Funding.