1. How to improve company treasury
Without proper management of the treasury, no company can meet its payment obligations in a timely manner, which is why many organizations cannot survive and are doomed to bankruptcy.
When cash flow is unbalanced, the entire company is in danger of going under.
Furthermore, if there is a lack of knowledge or inefficiency in this field, decisions are made badly and at the wrong time.
For example: Inadequate sources of that make it impossible for us to obtain the necessary liquidity in time to continue with the business.
Therefore, devoting time to this work and training in it, or resorting to trusted specialists, is essential.
El Factoring as a Financial Tool for Managing Seasonal Fluctuations in Trucking and promissory note discount, are highly used resources to obtain liquidity.
Have you heard of them?
2. Tips to optimize your company's treasury
Planning and having adequate knowledge in this field will allow you to save money and, most importantly, prevent and deal with unfavorable situations for your business in time.
To help you achieve it, we want to show you some recommendations.
2.1. Spend time making treasury forecasts and review it constantly
Supervise the daily accounting and mark the due dates of the collections and payments of your business, It will allow you to know your treasury forecasts at all times.
In this way, you will anticipate critical moments and you will be able to request the well in advance, because the sooner you know what you are going to face, the better you will react.
But, it is not enough to analyze the general lines from time to time, you must dedicate quality time to analyze how your treasury.
Check the collections and pending payments, it will allow you short-cut uncertainty and anticipate extreme situations.
2.2. Correctly select your sources of financing for business
Any delay in the expected collections can upset your cash flow and compromise your working capital.
But today there are more financing options than ever, factoring and discounting promissory notes They are highly recommended alternatives that are characterized by their speed and agility.
2.3. Bet on technology
There are programs and applications that simplify these controls to the maximum.
The Excel spreadsheet is a tool available to everyone, which allows you to create very complete and efficient databases.
We can also make use of management software, more commonly known as a ERP, which can be an excellent investment for your project.
2.4. Assign responsibility to a good professional
Delegate to specialists on certain occasions it is recommended, as it allows you to free yourself a bit from these tasks and focus on growing your business.
2.5. Incentive your cash collections
Consider offering better delivery terms, trade discounts, or any other incentive to customers who they pay you in cash.
2.6. Negotiate your payments with an open mind
As a general guideline, paying as late as possible is usually interesting.
But, beware, maybe it will compensate you get better conditions and discounts if you anticipate your payments.
It all depends on what financing for companies you are using. Which option is more profitable for you? Make these comparisons.
2.7. Accumulate reserves, just in case
Always cover your back.
save one amount of money for emergencies, in case something unexpected happens.
In fact, you should allocate around 5% of your profits to this feature.
3. Permanent support
These have been our recommendations to improve the health of your treasury and, consequently, the solvency of your company.
Even so, we know that managing a company is not easy...
Do you feel unprepared to function in this field?
Don't worry, you just need find a reference partner that looks after your interests and provides you with the best solutions.
En WorkCapital, We provide you with the qualified support you need thanks to the knowledge and experience we have in the business financing.
For this reason, we carry out personalized advice and adapt our services promissory note discount y invoice advance to your needs, looking for the best solutions for your business.
Contact us!
Call us and we will inform you without obligation!
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