Guide to strengthen cash management and beat the down-turn

To help management improve their cash flow and achieve positive return on their software investment, IRIS has introduced a guide to effective Cash Management.ew guide shows how to strengthen cash management and beat the down-turn.

Weak credit control, inadequate cash collection policies and processes and inaccurate sales projections are all adding to the woes of UK enterprises. Cash-strapped companies are being cautioned to better manage their cash flow before it is too late.

“This is not rocket science” comments Paul Sparkes, Product Director of IRIS Accounting & Business Solutions: “Cash is king in or out of a recession.”

According to Sparkes, far too many small to medium UK companies are not managing their cash effectively and still manage through a combination of manual spreadsheets, sales forecasts and non-integrated databases. The result is that cash flow is always out of date, generally incomplete and almost always underestimates cash requirements.  That combined with sloppy late payment policies and cash collection is a recipe for disaster.

Research carried out by IRIS, developers of the award winning mid-range financial management system, IRIS Exchequer, shows that in the current economic climate many organisations are trying to hold off creditors while trying to collect cash themselves – one of the oldest ploys in the accountant’s stable.

To help management improve their cash flow and achieve positive return on their software investment, IRIS has introduced a guide to effective Cash Management.  Produced by leading financial journalist John Stokdyk, the nine page document is complete with advice from the AccountingWeb and Finance Week community.  It is the must-have information guide to help companies beat the down turn.

Putting theory into easy to implement practice, the guide includes information covering the disciplines of cash management and tips to keep cash flow healthy; debtor management; cash management systems and how business and accounting software can keep companies in control of their cash.