Financial Management & GRC
Operational Cash Management: Streamlining Processes to Unlock Liquidity
Operational Cash Management: Streamlining Processes to Unlock Liquidity
Brought to you by DSD Business Systems and the Aberdeen Group
Those financial executives that have weathered the worst recession in decades have been forced to gain control and visibility over cash and liquidity. A year ago Aberdeen found by streamlining and automating operational cash processes, standardizing communication and providing drill down capabilities from summary views of cash, Best-in-Class companies were able to reduce costs by minimizing late fees, maximizing discounts, and optimizing working capital. The result: reduced Days Sales Outstanding and improved forecast accuracy. This year, although we see early signs of recovery, 84% of survey respondents have increased focus on cash management over the past year with top performers successfully reducing their cash conversion cycles, optimizing discounts and eliminating late fees - all necessary steps to unlocking liquidity.
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