Cash management in e-commerce: BETTER BE BOLD relies on Tidely

Pre-financing products was difficult to manage due to supplier payment terms and irregular cash flows. Managing finances using Excel spreadsheets was time-consuming and prone to errors. There was a lack of a clear overview of available liquidity, which led to uncertainty and actual financial bottlenecks.

With Tidely, BETTER BE BOLD reduced the weekly time spent on financial administration from four to five hours to just one hour per week. The financial clarity gained allowed Dennis to make informed decisions and sleep soundly. Tidely made it easier to plan for scaling and strengthened the bank's trust. The clear overview helped avoid negative surprises and manage incoming invoices stress-free.

Thanks to Tidely, BETTER BE BOLD was able to efficiently manage the pre-financing for their appearance on "Die Höhle der Löwen" (the German version of Shark Tank). Precise liquidity planning helped pre-finance the necessary inventory and handle the expected surge in demand. Through accurate cash flow forecasts and scenarios, the team impressed their bank advisor, which led to a seamless doubling of their credit line. As a result, BETTER BE BOLD was perfectly prepared for the rush and could continue to grow securely.

Dennis strongly advises all e-commerce entrepreneurs against managing their finances based solely on their bank balance, as this is highly risky. Instead, they should consider how much time managing finances in Excel actually costs and compare this effort with other solutions. Many spend hundreds of euros a month on tracking tools, so an investment of 45 or 85 euros per month for a liquidity management tool like Tidely is a worthwhile investment. In his view, Tidely is one of the most useful tools for e-commerce companies.