Efficient business planning and budgeting are the backbones of a company’s financials. COVID-19 impact has left many companies struggling to manage their day to day operating expenses.
The focus has dramatically shifted to a daily level view of cash flow and how do we get visibility to future liquidity requirements. Revisiting the planned number and forecasts considering COVID-19 risk can help companies sail through the current situation. Many companies are now looking for a quick turnaround to develop a forecast for multiple scenarios and some key metrics for the pandemic response.
Cash flow optimization through informed decisions around account receivables account payables, and inventory is a very useful tool to fight the current risk. Also, companies are revisiting their hedging strategies and closely monitoring their currency exposures.
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