Cash Management to Improve Your Bottom Line
By: Daniel Sturm, CPA, CCIFP, Partner
Cash management is the process of managing the inflows and outflows of cash in a business and is particularly important for construction contractors. Long payment cycles, unpredictable expenses, and fluctuating demand all emphasize the need for cash management. A solid cash management strategy and process can help with long-term sustainability and help drive additional income straight to your bottom line, especially in today’s interest rate environment.
With guidance from your financial advisor, excess cash can also be invested, creating additional cash flow and income