Cash Management as a Competitive Advantage
From startups to mature businesses, cash flow is critical to success. Businesses that understand and manage their cash cycle enable better business performance. Cash management as a competitive advantage will set your business apart from competition.
Cash flow management is not easy. Brown Smith Wallace can help you:
- Understand your accounts receivable and set a strategy to improve timely cash receipts
- Standardize and streamline your payable processes and working capital initiatives
- Map current relevant processes to help you identify key performance indicators
- Identify pain points where manual intervention or other issues are impacting timeliness and accuracy of data, and bring ideas to improve
- Identify credit and past due collections from your customers
- Identify the value of your accounts payable (AP) due in the next 30 days and create annual projections
- Align terms for receivables and payables
- Establish policies for managing cash
- Build a strong governance plan that is sustainable
Formalizing your approach to cash flow will unlock liquidity trapped on your balance sheet and enable growth. Contact us today to learn more about best practices so you can be ready when your next opportunity for growth arises.