Amidst looming economic and political instability both at home and abroad, the push for operational efficiency, particularly in cash collection, grows stronger. And with 40% of midsize businesses reporting that ongoing late payments pose a serious threat to the health of their organisation, achieving greater efficiency in cash collection not only safeguards financial health but also ensures a competitive edge in a market where stability is a moving target [Entrepreneur, 2024].
The challenge is, despite the clear value of cash collection optimisation, the path to success appears riddled with obstacles for many executives. Overwhelmed by the sheer number of day-to-day priorities and a lack of a defined roadmap, a significant number of finance leaders default to unsustainable band-aid solutions or prioritise superficial gains with the misconception that the solution lies in cross-functional implementation [McKinsey, 2023].
In such a competitive landscape, optimising the way that organisations collect cash can be the difference between a year of survival and a year of growth. So, how can finance leaders cut through the noise and implement a strategy that provides both short-term stability and a long-term competitive edge?
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