EY Finance Navigator is online financial planning software, which can calculate, on a monthly basis, the impact of different scenarios by modelling cash flow, funding requirements and profitability.
EY’s CI Restructuring Director, Stuart Gardner, is spearheading the promotion of this free service in the Channel Islands. He explained:
“EY Finance Navigator is simple to use and does not require any financial background or experience. Once data and assumptions have been inputted the tool can provide forward looking integrated balance sheet, profit and loss account and cash-flow statements and charts, along with sector specific benchmarking analysis. Although data is inputted on a monthly basis, EY Finance Navigator’s outputs can be used to provide short and medium term insight and assist owners and stakeholders in making strategic decisions, for example with regard to funding requirements.”
Initially designed for internet start-ups, EY Finance Navigator is already trusted by entrepreneurs in more than 50 countries. It aims to present financial plans, KPIs and statements to assess future funding needs and cash dips, helping anticipate cash shortages and the funding requirements.
“I hope that EY Finance Navigator will go some way to supporting local businesses by giving them the ability to quickly create various short, medium and longer term scenarios during these challenging times. Businesses will be forecasting cash on a daily and weekly basis at the moment, and EY Finance Navigator can be used alongside 13-week short term cash flow forecasts to understand and present the financial impact of social distancing and lock-down measures on a business.”
Business owners seeking to register for access to EY Finance Navigator should do so by 31 May using the link on EY’s website.