Financial Management 101: The importance of quoting for your startup

By | 2nd September 2015

Financial Management 101

Keeping an eye on your financial horizon is crucial as a startup entrepreneur. Being able to forecast means you have to have your finger on the pulse of your cash flow and all of your other dailyfinancial management activities. Keeping up to date with your financial management is paramount to maintaining a healthy financial outlook and there are various aspects that have to be taken into account. The first and foremost financial record that needs to be in order is your quoting system.

Here’s why it’s important for each of your quotes to be in tip top shape and how it helps to secure business:

Effective financial management starts with an effective quoting system.

In order for you to secure any transactions, you need to formally indicate to your customers what they can expect to pay for your products or services and details pertaining to the purchase. Without this document in order, which is the first paper trail between you and the client, you might not be able to close the deal. A quote is basis of all financial transactions so it has to be 100% correct, include all the required information and look the part.

It’s paramount that all information is included correctly on your quotes.

Quotes are the secret passage to helping you gain new customers and secure repeat business. The unfortunate thing is that there’s a lack of knowledge about what needs to be included on a quote. This can seriously compromise the quality of your quote and subsequently your chances of getting new business. It’s crucial that you have the correct client information, your own business details, company registration number and VAT number.

Your quotes have to look professional if you want to land the sale.

The more professional your quotes look, the more likely someone would be to make use of your services. Aside from being a crucial part of your financial management, quotes are great reputation builders. You could Google a simple template, but unfortunately thousands of other entrepreneurs do that too so the chances are high your quote will be so generic that it won’t make an impression.

SMEasy can help simplify financial management and improve your quoting system.

SMEays knows how important quoting is for your startup’s financial well being. That’s why our easy-to-use quoting system takes care of it for you, so you can secure clients and focus on other financial management duties. Our software enables you to easily import client details from your contacts list and products from your pricelist, straight onto your quote.

All of your business information is automatically included on the quote as well as your business logo, making for a complete and professional looking document. Once your quote has been accepted, SMEasy automatically converts the document into an invoice – both quotes and invoices can be saved in PDF format for easy sharing. Our automation of the entire quoting process is just the tip of the iceberg when it comes to financial management. Our smart online accounting software helps with the daily management of cash flow, assists with financial forecasting and compiles financial statements for your accountant.


Startup Finance 101

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