Automation helps reduce the time it takes to accumulate the data for cash flow forecasting, and it reduces the risk of overlooking important transactions when businesses use the direct method of cash flow forecasting. In addition, businesses can use automated analysis tools and dashboards to refine the underlying estimates needed for cash flow forecasting and eliminate manual errors that are common in spreadsheets. Also, the automated financial reporting tools can generate forecast income statements and balance sheets when businesses prepare cash flow forecasts using the indirect method.