Tips for improving Cashflow
Posted On April 1, 2022
As businesses start to recover after Covid-19, cashflow management is more important than ever.
There are a few fairly straightforward things you can do to maximise your cash and help fund your recovery:
- Keep your cash forecasts up to date
- Be persistent with your credit control
- Make sure you are maximising the payment terms with your suppliers
- Look to make cost efficiencies where you can
- Manage your stocks by buying efficiently and selling off old inventory.
This very helpful article from Development Bank of Wales offers 11 tips to maximise cash.
This is a link to an earlier article I wrote on turning working capital into cash.
If you need any help to maximise cash from your current processes then please do get in touch!