Strategies to Manage Cash Flow During Evolving Economic Conditions
Credit and collections professionals are facing unique challenges created by the impacts of COVID-19. Many companies are facing an unexpected cash flow crunch, and collecting accounts receivable is becoming more of a focal point. Companies can’t just expect prompt payment from their formerly on-time customers, and may find themselves needing to work creatively with certain accounts to try and secure payment.
If this is your experience, now is a time to consider deploying new strategies to more successfully navigate these emerging risks and balance the need to maintain cash flow alongside practicing compassionate collections.
Dun & Bradstreet recently hosted a webinar about how using a unified credit-to-cash management approach can help you effectively manage cash flow during evolving economic cycles.
Christopher Rios, VP Finance Solutions, Dun & Bradstreet, discussed ways to navigate the shifting landscape that lies ahead, while preserving valuable customer relationships now and after this crisis dissipates. He and moderator Ryan Camlin, Senior Director of Product Management at Dun & Bradstreet, reviewed strategies you can begin applying today to successfully prepare for shifting economic times, including how to:
- Monitor critical changes to help protect your investment in A/R
- Conduct a portfolio analysis and segmentation of your receivables
- Implement personalized strategies to help improve cash flow