Cash is the blood life of a business, that ensures smooth and uninterrupted business operation.
Often businesses go through challenges, which could be a function of growth or business dynamics or even as a result of difficult conditions. When faced with challenges, what is very important is that there is smart management of receivables and payables, to bring in an element of predictability and find ways to generate better cashflows. Good cashflow management requires the following:
Someone rightly said: “Revenue is vanity, profit is sanity, but cash is reality”. Globally, companies with efficient working capital management are quite successful.
As a part of our offering, we assist companies in organizing & setting up necessary systems and processes to improve working capital management. Here’s a list of activities we perform:
Efficient Receivables Management is the key to better Cashflows. In this short video, we have shared top 5 ways to improve your receivables position, that would go a long way in generating better cashflows.
If you have a large quantum of overdue receivables, it is very important to quickly address the same; since with passage of time, not only there is time-cost (interest) on those funds, but also the ability to recover those receivables keeps dropping quickly.
At OBX, we regularly work with businesses to address their overdue receivables. We have established several best practices and have a seasoned team that knows how to collect quickly, from a B2B customer. As a value-add, we assist companies with reconciliations, resolving disputes, setting up process for assigning credit limits, and undertaking detailed analysis on the the receivables position, to gain better insights.