Optimising Accounts Payable To Ride Out A Recession
As a finance executive, you play a pivotal role in the survival or demise of your company. In a market like today, cash is king and as the gatekeeper to that cash, prudence will be a virtue worth its weight in gold. When developing cash flow strategies, the first area that typically comes to mind is the accounts receivable function - the key goal being optimal Days Sales Outstanding (DSO). For obvious reasons, DSO should never be taken lightly and there is a plethora of ways to drive down DSO. Any seasoned finance executive can likely spew a laundry list of strategies they deploy to optimise DSO.