Cash management
Effective cash flow management and forecasting are critical to the survival of your business. 49% of respondents indicated that better liquidity and cash management was one of the most important benefits of an enhanced risk assessment.
Conducting thorough reviews of cash management, organizing contingencies for additional cash release and considering possible assets that can be turned into cash quickly are essential actions that can help secure a business.
You should also implement tighter KPIs and associate alerts to them in order to prevent cash shortages. Recording all cash inputs and outputs in a cash management tool may increase process efficiency and provide an accurate picture of your cash position.
Conducting thorough reviews of cash management, organizing contingencies for additional cash release and considering possible assets that can be turned into cash quickly are essential actions that can help secure a business.
You should also implement tighter KPIs and associate alerts to them in order to prevent cash shortages. Recording all cash inputs and outputs in a cash management tool may increase process efficiency and provide an accurate picture of your cash position.