Vive Scooters the company that drives through cash flow management
Vive Scooters sells electric scooters and electric bikes both online and retail since 2019.
They also offer a repair service in their store located in East London. With the growing interest in green transports the company has been growing strong for the past months but still encountered issues with their cash flow management.
Its owner and administrator, John Omisade, had many difficulties with treasury management. In particular, keeping track of inventory, managing seasonality and, above all, coordinating with the logistics related issues that are time-consuming tasks where the margin for error was high.
What makes the cash flow challenges different from other industries is that they receive a lot of payments in small amounts, especially from online purchases.
Moving from Excel to accurate data in one click
One of the problems with not managing your cash flow is that you may think that things are running smoothly, but the reality is you might be underestimating the amount of cash that you have available or spending too much without even knowing and it.
John states « once we know exactly how much we have coming up and we're able to predict, it enables us to make smarter decisions and we can avoid getting into situations where we didn't maximise the most of our potential. »
Now with Agicap, John is using the Scenario feature to test out different levels of margin he could apply on its products depending on how the business performs and compare the outcome before taking its decision.
Agicap they best tool to take business decisions
Agicap connects to Vive scooters’ 7 bank accounts and spending cards and Xero.
All the data is now concentrated in one place and on the main dashboard Sam can see in an instant what are his main expenditure centre and identify where he should invest more or on the contrary, cut in.
Thanks to this Sam can avoid spending time on data entry and focus more on taking decisions for his business.
To manage your cash flow with complete peace of mind, try the Agicap cash flow software free of charge and without obligation.