CASH FLOW MODELERS
What is cash flow modeling?
Cash flow modeling is the practice of tracking and predicting the flow of money into and out of a business. There are many types of cash flow models, including free cash flow (FCF), operating cash flow (OCF), and discounted cash flow (DCF).
Here’s a quick overview of the skills you should look for in cash flow modeling professionals:
- Cash flow modeling
- Financial analysis, modeling, and forecasting
Why do you want to hire cash flow modelers?
The trick to finding top cash flow modelers is to identify your needs. Is your goal to prepare a basic cash flow model for a small business that tracks accounts payable and receivable? Or do you also require experience tracking cash flow due to investments, stock performance, and equity? The cost of your project will depend largely on your scope of work and the specific skills needed to bring your project to life.
HOW TO HIRE CASH FLOW MODELERS
Cash flow modelers can give you a bird’s-eye view of how money is flowing into and out of your company. A cash flow statement is one of the core prerequisites for any financial plan.
So how do you hire cash flow modelers? What follows are some tips for finding top cash flow modelers on Upwork.
How to shortlist cash flow modeling professionals
As you’re browsing available cash flow modeling consultants, it can be helpful to develop a shortlist of the professionals you may want to interview. You can screen profiles on criteria such as:
- Industry fit. You want a cash flow modeler who understands your industry so they can help you figure out how best to reach your target market.
- Project experience. Screen candidate profiles for specific skills and experience (e.g., modeling the performance of a corporate investment portfolio).
- Feedback. Check reviews from past clients for glowing testimonials or red flags that can tell you what it’s like to work with a particular cash flow modeler.
How to write an effective cash flow modeling job post
With a clear picture of your ideal cash flow modeler in mind, it’s time to write that job post. Although you don’t need a full job description as you would when hiring an employee, aim to provide enough detail for a contractor to know if they’re the right fit for the project.
An effective cash flow modeling job post should include:
- Scope of work: From basic cash flow statements to DCF models, list all the deliverables you’ll need.
- Project length: Your job post should indicate whether this is a smaller or larger project.
- Background: If you prefer experience with certain industries, cash flow models, or financial tools, mention this here.
- Budget: Set a budget and note your preference for hourly rates vs. fixed-price contracts.
Ready to create your own cash flow models? Log in and post your cash flow modeling job on Upwork today.
FAQS FOR HIRING CASH FLOW MODELERS
How much does it cost to hire a cash flow modeler?
Rates can vary due to many factors, including expertise and experience, location, and market conditions.
- An experienced cash flow modeler may command higher fees but also work faster, have more-specialized areas of expertise, and deliver higher-quality work.
- A contractor who is still in the process of building a client base may price their cash flow modeling more competitively.
Which one is right for you will depend on the specifics of your project.
How long should you contract a cash flow modeler to complete your project?
As difficult as it is to estimate how long it takes to model a business’s cash flow, budgeting time is very important to keeping your project on track.
Be prepared to budget more time for more-demanding cash flow modeling projects. For example, generating basic cash flow statements from your sales and business expenses will take less time than also accounting for long-term investments, stock dividends, and other financial activities.
What are the steps involved to hire cash flow modelers?
Here’s how to hire cash flow modeling consultants in four simple steps:
- Identify your project needs, whether it’s financial planning or forecasting.
- Define the scope of work and write a detailed job post. Be specific about deliverables (e.g., create an OCF model for an online retailer).
- Review proposals and shortlist potential cash flow modelers for unique skills needed to bring your project to life (e.g., preparing cash flow statements for an investment banking firm).
- Interview cash flow modeling talent to gauge whether they’re the right fit for your project.