Cash is crucial to businesses right now, and finance leaders need a near-real-time visibility into the numbers to make decisions on liquidity. As CFOs take swift action to keep a tight hold on cash, it's important to also look at how current and future liquidity needs are analyzed to ensure minimal operational disruptions.
Kane Polakoff says that starts with timely and accurate financial statements and data. "So, for example, some companies took 25 to 30 days to close the books," he says. "Now, you’re already looking at data that’s outdated.”
As a leader in a company that manages clients’ account receivables and payables, Polakoff re-emphasizes the idea of balance between collecting money owed and maintaining consumer relationships. “It’s really reaching out to both the suppliers and to the customers of the clients, having those conversations and creating understanding,” he says.
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