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Cash Flow Management checklist
Cash Flow Monitoring
Review and update cash flow forecasts regularly
Analyze cash flow statements to understand the liquidity position
Set up a dedicated team to monitor cash flow daily
Receivables Management
Issue invoices promptly and follow up on overdue payments
Perform credit checks on new customers before offering credit terms
Offer discounts for early payments to encourage quicker cash inflows
Payables Optimization
Negotiate longer payment terms with suppliers
Use electronic payments to control the timing of payments
Review and prioritize payments to manage outflows effectively
Cash Reserves and Investments
Maintain an emergency cash reserve for unexpected expenses
Invest surplus cash in short-term, liquid investments
Regularly review investment performance and liquidity
Expense Management
Conduct regular reviews of overheads and operational expenses
Identify and eliminate non-essential expenses
Implement cost-saving measures across the organization
Revenue Management
Diversify revenue streams to reduce dependency on a single source
Adjust pricing strategies based on market conditions
Enhance sales strategies to increase income
