Cash Management Essentials: A User's Perspective - How, Why, Where and What
Duration: 60 Minutes
Cash management seems simple enough; money comes in, money goes out. However, managing the flows and gathering the right information at the right time is complicated and tricky. Understanding the pitfalls and anticipating Murphy's Law is both a science and an art.
Objectives of the Presentation
Why should you Attend
- Treasurer's role and responsibilities
- Daily cash management activities
- Cash analysis methods
- Cash management products and services
- Payment types - volumes and transactions
- Banks' view of your cash management
- Compliance and risk issues
Cash is King! You've heard that I'm sure. But managing cash can be a pain in the butt. Establishing procedures, maintaining banking relationships and getting good, reliable information are some of the key elements of good cash management.
The larger the company, the more complex the issues and hence the solutions. No longer a pencil and paper enterprise; managing cash is the Rubik's Cube of finance. A bank that is not making its commercial and small business customers' lives easier cannot expect them to utilize its Cash Management products. Internet cash management is typically the anchor product and ancillary systems such as ACH, positive pay and bill pay are often bolted on as an afterthought.
Who will Benefit
- Inflows, outflows, and information
- Bank products and services
- Where to get data
- Internal and external information
- Cash position
- Budgeting and forecasting
- Excel versus treasury workstations
- Departmental structure
- Cash Managers
- Assistant Treasurers
- Operations Managers
- Payments Managers
- Compliance Officers
- Accountants and CPAs
- Accounts Receivables Managers
- Accounts Payables Managers
- Procurement Managers
Depending on the size of the company, there are issues ranging from basic cash management and cash flow with risk and relationship management to more sophisticated treasury management including foreign exchange and treasury management systems.
An essential part of cash management is budgeting and forecasting and managing actual against both expectations. Understanding the source of the data as well as the confidence you have in its reliability plays a large part in the management of your company's cash.