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Financial Distress

Companies who are unable to meet their obligations are often at the mercy of their creditors. Your ability to remain in control of your company may depend on your ability to gain the confidence of your creditors. The key is demonstrating that despite a rough patch your team is still best able to maximize their return. Any strategies for turning around the business are just words without the numbers to back up your story.

If your business is in financial distress it is all about cash flow. PlanGuru’s interlocked income statement, balance sheet and statement of cash flows will enable to effectively model your turnaround plans. Show how your plans to increase sales and cut costs will result in improved cash flow and a fundamentally more stable financial position. Show outside investors how plugging a hole in your cash flow and balance sheet will enable your business to return to profitable so you can avoid and forced action by your creditors.

Budgeting with PlanGuru will enable your firm to monitor progress against your budget for all three financial statements. Implementing a performance measurement system will give your creditors piece of mind and increase your ability to negotiate a favorable settlement.

In the current economic environment, lenders are looking for creative ways to maximize the return on their battered loan portfolios. You are still the best person to run your business and will provide a better return than liquidation; you just need to convince your lenders of that. A strong understanding of your financial situation is the best starting point. The best part is that once your business is back on solid ground all of the steps that you implement while your company is in financial turmoil will be help you stay on solid ground. Visit the PlanGuru Product Comparison page to determine which product best fit the needs of your business.

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