At Insightful Accountant's upcoming "Future Forward"—Nov. 30-Dec. 1—I will be hosting a segment on Qvinci featuring its tool for cash-flow, financial trending and forecasting.
One significant aspect of our presentation will focus on Qvinci's predictive business intelligence tool, which can produce "What If" scenarios and forecasts relating to the impact of inflationary and recessionary economic factors on businesses.
Source: Qvinci What If Cash-flow and Forecasting Optimizer
Another aspect—and one of my favorites—is how you, the Trusted Advisor, can use Qvinci, specifically its forecasting and "What If" scenario tool, to bolster your practice. The tool will provide value-added services over and above a standard set of financial statements, even with extras like the Qvinci KPI Scorecard (shown below).
Source: Qvinci (KPI Scorecard)
This article is designed to stir your interest in the one-hour "Future Forward" webinar, which will include presentations and discussion by and between myself and Qvinci founder and Chief Innovation Officer Charles Nagel.
Perhaps even more critical than our discussions, the session will take on some interactive role-play, as Charles educates me—the way you would—as a Trusted Advisor with your clients about the serious issues Qvinci has identified in my (simulated) company.
I'm not talking about only the Red ("we need to talk about these") items in my financials, but the predictive outcomes if things don't change. Then, Charles will guide me through the various "What If" results when things get changed based upon a knowledgeable Trusted Advisor's recommendation.
You will be able to see for yourselves how to use these tools to enhance your practice and client services. That's why I'm confident you will want to know more about this exciting predictive business intelligence offering.
Qvinci now includes this easy-to-use "What If" predictive business intelligence tool. This allows users to create a virtually unlimited number of "What If" scenarios and forecasts to show the ongoing impact of any future crisis on their business's income, expenses and cash positions over time.
This makes the tool a perfect predictor of what can happen during inflationary times with rising costs and shrinking revenues. Because of this, Qvinci users can use the "What If" tool to easily manipulate financials, allowing them to immediately see the impact and make sound decisions from the results in near real-time.
The tool can help Trusted Advisors work with their clients by providing better predictions if/when additional funding may be required or if/when specific costs should be reduced or eliminated long before conditions manifest into a true financial crisis impacting the client's bottom line.
"The critical factor is not each new 'What If' scenario. It's your interpretation and recommendations related to those scenarios. Those are genuinely the value-added services your clients are after from their Trusted Advisor."
The What If Tool is designed to pull last month's P&L and the total cash balance in the bank; it then builds a 12-month forecast based on a default of continuing existing performance trends.
Users can change any line item(s) by month in the Chart of Accounts and the running income, expenses, and the cash balance will automatically show the impact.
In addition, an Other Accounts section of the tool allows users to manually enter (or import) data not found in the P&L, such as transfers, loans or cash infusions that are not part of your accounting records.
While this tool's results can be especially beneficial to SMBs, many just do not have the time or tools to create these forecasts. This is why the Trusted Advisor is the perfect individual to serve as the resource for this type of solution and the information it provides, along with the interpretative services that can be easily incorporated into a value added package of information the Advisor delivers once the forecasts are generated.
In addition, the simplicity with which changes can be made under a "What If" scenario basis serves as even a further expansion of those value-added services simply by expanding upon the initial forecasting of your client's future and some of the most probable 'What If' possibilities for the serious problem areas.
Source: Qvinci (What If forecasting tool)
Remember, the tool allows you to perform virtually an unlimited number of "What If" scenarios to forecast the impact of inflationary or recessed economic factors on the client's income, expenses, profitability and cash position over time. With each new "What If," you are providing additional value-added services to the basic package of analytics and forecasts you initially agreed to provide.
But the critical factor is not each new scenario; it' is your interpretation and recommendations related to those scenarios. Those are genuinely the value-added services your clients are after from their Trusted Advisor.
As you can see, this "Future Forward" session, scheduled for noon EST (11 CST) on Dec. 1 is designed to teach you about this critical tool from Qvinci and guide you on how you can use it to help make your clients successful even in the toughest economic times.
I hope you will register to attend at Insightful Accountant's Future Forward website.
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