A budget is a systematic method of allocating financial, physical and human resources to achieve strategic goals. Companies develop budgets in order to monitor progress toward their goals, help control spending, and predict cash flow and profit.
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Topics: Accounting/Finance, Cash & Treasury, Performance Management/Measurement, Budgeting
Cash flow management is the mobilization of company funds, the investment of these funds to produce income and compensation of the banks that support the process. Cash managers use most noncredit services of banks, as well as of some nonbanks.
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Topics: Risk Assessment, Investments & Foreign Exchange, Accounting/Finance, Process-Level Control, Cash & Treasury
In a previous blog on Managing Mergers and Acquisitions KPIs we discussed what exactly Key Performance Indicators are:
“KPIs are generally defined as quantifiable measures used to evaluate the success of an organization, employee or process in meeting the objectives for performance. In other words, you can only really know if you did well if you know how success is measured.”
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Topics: Accounting/Finance, Cash & Treasury, Performance Management/Measurement, Budgeting
What is Money?
People may say that “money is the root of all evil,” but is it? It may be best to point out that the original quote is better expressed as, “for the love of money is the root of all evil,” which more properly conveys the idea that money is just a thing and not evil itself, but greed and excessive desire for money can be judged morally.
Enough philosophy – let’s get down to brass tacks. Money is useful.
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Topics: Enterprise Risk Management, Risk Assessment, Investments & Foreign Exchange, Accounting/Finance, Cash & Treasury, Performance Management/Measurement
One of our leading practices to consider for your accounts payable process is to develop strategic business alliances with suppliers and involve them in developing better ways to process accounts payable.
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Topics: Supply Chain, Vendor Management, Accounting/Finance, Financial Reporting, Cash & Treasury, Performance Management/Measurement, Accounts Payable & Purchasing
Is The Treasury Function Ensuring Superior Financial Services for Your Company?
The treasury function at a company bears responsibility for managing financial transactions, safeguarding deposits, earning a return on reserves and obtaining credit. At a minimum, the staff of the treasury function selects and supervises providers of financial services, such as bankers and lenders, who will produce superior results at a fair price. In companies that apply leading practices, the treasury function staff develops relationships with bankers and lenders who provide more than simple banker-to-customer services: the relationships progress into collaborative business partnerships where the bankers help the company manage financial risk and develop the resources worldwide to meet its strategic financial objectives.
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Topics: Accounting/Finance, Cash & Treasury, Performance Management/Measurement, Credit & Collections
In recent blog posts, we’ve discussed KPIs for various processes and even gave a concise description of what they are (see Guide to Managing Mergers and Acquisitions KPIs). In this post, we’ll be looking at KPIs again and this time it’s for Accounts Receivable (AR), Credit and Collections and we have a great document on KnowledgeLeader that goes more in-depth.
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Topics: Accounting/Finance, Accounts Receivable, Cash & Treasury, Performance Management/Measurement, Credit & Collections
Settlement risk, in its simplest form, is the risk that one party won’t hold up their end in a transaction. There are several reasons this can occur, including time delay, system failure or default, and can also include risk associated with unexpected cost and/or administrative inconvenience.
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