Nothing wreaks havoc on Finance’s efficiency like a way-off cash flow forecast. Here’s an action plan that’ll banish expensive surprises.
Yes, some of your peers have been able to secure a cash flow boost by faxing customers their invoices instead of mailing them. Here’s an alternative that might be even better.
Training’s important to build skills, improve retention and show your staffers you think they’re valuable. It also takes a big bite out of the budget.
Sales is king of company incentives: Salespeople receive them for selling, they offer them to customers for buying, etc. How about your company offers them to customers for paying you instead?
Many customers are adopting a new motto these days: "What’s mine is mine; what’s yours is mine." Put a stop to that pronto.
Jump on every technology that promises to improve accounting processes and you won’t have anything left in the budget to keep track of. But for some tech features finance execs should definitely jump on, few have.
A reduction-in-force might increase cash flow, but is your company prepared for the employee exodus that’ll follow?