1. Efficient Cash Flow Management

Cash flow is the lifeblood of any business. Efficient cash flow management ensures that a company has enough liquidity to meet its short-term obligations and invest in growth opportunities. Proper cash flow management involves:

– Monitoring and Forecasting: Regularly tracking inflows and outflows to anticipate future cash needs.

– Optimising Payments: Managing the timing of payments and receipts to maintain a healthy cash balance.

– Mitigating Risks: Identifying and mitigating risks related to cash shortages, which can jeopardise business operations.