Cash, the most important resource
Proper cash management system can make or break a firm. Whether a startup or a big and well settled corporation, if either acts aloof of its cash positions, it is destined to fail or suffer a big irrecoverable loss for the least. This can take many forms, some of which are mentioned below
- Optimizing and strategically spreading out inflow if cash
- Optimizing and strategically making cash payments to get the most discount
- Creating a cashflow that maintains a minimum level of buffer cash at all times for unforeseen circumstances
- Planning borrowing activities way before hand in order to be able to borrow at the best rate
- Discover, analyze, fix, and evaluate cash thirsty and cash generating activities
- Knowing how much to tie up company’s cash in inventory, receivables, and investments
- Helps reduce chances of liquidation and insolvency
- Enables the business to tap new and promising opportunities
- Makes your firm more attractive to investors and lenders
- Cash savings can be put to a better and more productive use
Aspire Analytica’s cash management system
- Our alerts and notifications help businesses collect and pay cash at a predetermined time
- Pay and receive cash through multiple mediums to suit the unique needs of different circumstances
- Keeps record of all cash injections and deductions at various times, by various functions, approved by various people, and to meet various needs
- Reference document to tally bank statements
- Shows a trend to make forecasting easy
Many companies, every year, fail to survive just because of poor or inadequate cash management. Make sure that your company is not the next. Do more with how much you have without having to add someone as an owner, or borrow from a financial institution, or injecting in more personal savings that increases the risk and stake you already have in the business. A lot is cash is not needed by businesses but proper management of the cash they already have definitely is.