Amid the economic disruption created by COVID-19, ensuring management of cash sources and uses in the most optimal manner is becoming a critical issue for some businesses. The good news is that tools for responding to this cash challenge are much better than they were a decade ago.
It will take smart, decisive action on the part of CFOs and their partners in the business to ensure their organizations can manage their cash needs during COVID-19. CFOs must act quickly to improve cash visibility across every layer of the enterprise and ensure their organizations have optimal cash management processes in place to ride out events whose time horizon cannot be predicted with certainty.