A member survey by the Association of Chartered Certified Accounts (ACCA) Hong Kong during February 17-19, 2020, revealed that insufficient liquidity (43%) to be one of three main challenges facing enterprises. The others being employee productivity (65%) and sales decline (59%).
The top three remedial measures currently taken by most of the finance departments in both Mainland China and Hong Kong are: cash flow and liquidity planning (51%); reduction of unnecessary spending and cost control (46%); and revision of operating plans and budgets (35%).
Managing cash – where it is, how it is being used, and how to maximise its effective uses – has become a central tenet of any organisation during the pandemic.
A rapid, robust and repeatable approach to improve cash flow, sustain cost reductions and free-up working capital. An integrated 3-way forecast through to deep transaction-level analysis of working capital accounts.
Click here to download this Jedox paper to learn more about managing cash, cost and working capital
