Corporations are in the Hunt for Cash

What to do for improved cash management, flow and liquidity:

1. Enhance visibility – look for the big picture.
Invest in technology and the right partners to integrate payments and receivables across the organization.

2. The “forecast” calls for getting back to basics.
According to PWC, forecasting problems impede working capital management. Ask some basic questions to better inform projections:
- What’s going on in my industry, with key prospects and customers?
- Who are our future customers and how much will they spend with us?
- How fast and reliable are our collections?

3. Streamline data analysis for timely insight.
Kick the spreadsheets, manual processes, and stale data. Technology not only enables data gathering, but also faster, on-time analysis.

4. Be vigilant about fraud prevention.
Ninety percent of cyber attacks come via email.4 It takes a fraudster about 90 minutes to worm their way into your network and, unless you’re proactive, you won’t notice it until 269 days later.5 Fraud is a for-profit business. Be proactive.

5. Share the wealth of knowledge.
Sixty-seven percent of CFOs are willing to train non-finance colleagues in reporting, planning, budgeting and forecasting.6 Take advantage of the opportunity to grow skills across the enterprise.

Contact Synovus Treasury and Payment Solutions, your Treasury Consultant, or Relationship Manager to learn how we can help you better manage cash flow and liquidity.