Friday, September 2, 2016

Cash Management Best Practices for High-growth Companies

With limited resources and pressures brought upon by high growth, finance managers of smaller companies face unique challenges when it comes to cash management.

Whether a company is gearing to take on a major customer or integrating a newly acquired company, the need to collect and disburse funds can add to pressure. Managing cash flows can jeopardize company stability, hold back its growth, and put stress on its employees.

Implementing the following key strategies can help

1. Manage accounts centrally
2. Align bank accounts ownership with corporate structure
3. Optimize structures to fit credit facilities
4. Choose right payment and transfer methods
5. Plan to minimizing transfer costs such as wires, etc.
6. Evaluate options to earn more on idle cash balances
7. Centralize collection streams in to one global account
8. Institute standards for scalability and visibility


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