Growth is a pivotal goal for any organization. As companies expand, it becomes crucial to manage various operational aspects effectively. One such critical aspect is the management of accounts receivable. Maintaining low accounts receivable days, even amidst growth, is essential for ensuring a healthy cash flow and sustaining financial stability. In this article, we’ll explore some practical strategies to achieve this goal without losing sight of the big picture.
Tag Archives: corporate finance
The Importance of Including Process Costs in the Profit and Loss Statement
In today’s competitive business landscape, organizations strive to optimize their operations to deliver maximum value to their customers while minimizing costs. One crucial aspect often overlooked in this pursuit is the consideration of process costs within the Profit and Loss (P&L) statement. Process costs, as demonstrated by real-world data and examples, play a significant roleContinue reading “The Importance of Including Process Costs in the Profit and Loss Statement”
Lean Wednesday Tip: Accounts Payable Performance
“By encouraging your A/P team to report and make critical department KPI metrics visual, such as, process cycle time, activity lead times, and cost per invoice with industry and competitor comparisons you realize the opportunity to reduce costs, increase productivity and streamline processes.”
Notable Friday Chat: Fraud Risk Management
Happy Friday! I hope you’ve had a great week. With that said, I want to leave you with a short message about Fraud Risk Management. Until next week, have a wonderful weekend and remember, “Success is continuous improvement”! “To minimize fraud risk, top management must be committed to a Fraud Risk Management program, implementContinue reading “Notable Friday Chat: Fraud Risk Management”
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