How to quickly improve liquidity in an uncertain economy Sponsored by CroweUSA
Here are three steps you can take to quickly improve liquidity, to help you stay afloat in uncharted waters.Create a 13-week cash flow analysis.
While this step seems simple, it is rarely easy, especially in the current unique circumstances. Never in our lifetime has there been a time where the entire revenue cycle has endured a strain it faces today, from supply chain to customers. You need to consider every part of your revenue conversion cycle, anywhere your company is spending or receiving money. Once your analysis is complete, if you have any borrowing availability on your lines of credit, draw down the full amount.
Do you have a deposit policy? What do your net payment terms look like, and do they vary from customer to customer? And most importantly, how are you prioritizing orders? Normally, larger orders take priority – but right now you’re considering cash flow, not revenue. Which means a small customer who pays in 10 days can be far more valuable to you than a large customer who pays in 90.
provides some relief, and various states are also providing assistance programs. For many employees, benefits are just as important as a paycheck. Check with your healthcare insurance providers to find out how to assist your employees in maintaining their benefits, even amidst a restructuring that may require them to be furloughed or work part-time. Consider right-sizing your work week to match order volumes.
Taking these steps can help you gain liquidity in your business and stay afloat during this uncertain time. For additional resources to help you stay focused and navigate the current business climate, please visit the
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