TOP TIPS: Switching to local currency invoicing
Sep 30, 2013
TOP TIPS: Managing cash flow and receivables
Betty Fan, senior consultant at Element Consulting Group, an advisor of shipping companies and manufacturers, shares her insight on how companies can improve their cash flow when liquidity is tight.
- Integrated approach from all business units: As liquidity tightens, management should thoroughly review how cash can be saved in each of their business processes and ensure various business units are communicating with each other to work towards that goal.
A typical scenario exerting pressure on capital is illustrated here:
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