Business Cash Management – Two Questions You Need to Ask Yourself
Careful cash management is routinely necessary for businesses of all sizes. This requires a strategy and policies that ensure your business has the cash it needs in good times and bad, including business interruptions such as a pandemic or natural disaster.
Building the foundation for good cash management starts with two basic questions:
- Where is my cash?
- How much cash do I need?
PBO Advisory Group Founder and Managing Director Mike Ford recently wrote an article for Forbes Finance Council on the importance of these two questions and proper cash management planning.
Our Senior Finance Consultant John Sherman introduces the article and provides an overview of the issues surrounding your cash.
We work with clients to determine if the financial institutions that hold your cash are the best option as well as how much cash is needed to fulfill your ongoing expenses and cover you if your business experiences a downturn.
Your cash should always be working for you. PBO Advisory’s finance and accounting advisors can help you make sure that it does.