MSP COVID-19 Playbook – Chapter 4: Managing Cash Flows During a Crisis
The thing that keeps most business owners up at night is whether they have enough cash to pay their employees and their bills.
According to Invoicera, 68.9% of business owners fear they’ll lose their business due to a lack of available cash and 58.2% identify slow paying customers as their biggest challenge in managing cash flow.
You never know what economic crisis is around the corner, so it’s critical to preserve cash and have a crystal-clear picture of your company’s financial position day-to-day.
This chapter will walk you through cash flow management best practices and offer tips and resources that will help you:
- Put the right tools and processes in place
- Make it easy to get paid consistently
- Gain visibility into your finances
- Cut expenses to build resiliency