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Are you a CEO or other senior member of staff who oversees the Finance function?
Have you worked in a Finance team? or are you reliant on the knowledge and information given to you? If your knowledge is limited to a set of financial statements and summarised reports, you may be missing out on crucial information about what is REALLY happening in your organisation,
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"Cash is King" goes the saying, but how do you know if your business is leaking that liquid gold?
Here are some ideas to help you stem the flow. Earlier this year, Australia brought in their Payment Times Reporting Scheme which aims to improve payment times for small businesses. It requires large businesses and government enterprises to report their payment terms and times to increase transparency about their performance. Much like vinyl sales, book sales and the return of the Nokia 3310 last November, it seems that using cash for purchases is on the increase.
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