Companies operating in today’s diverse business environment face a slew of challenges in managing cash flow, getting detailed insights into current bank accounts, cash position, expected cash needs, cash operations and more. To manage day-to-day transactions, cash balances, funds transfers, and all diverse liquidity needs of a business, there needs to be a software in place that can manage it all with precision and great control.
Let us find out how SAP Business One can meet all your cash requirements for core business operations.
Monitor the monetary status of the company
The cash flow report in SAP Business One facilitates business users to forecast the monetary status of an organization. Secondly, the customer receivables aging report gives you quick insight into late payments so that you can identify outstanding orders and invoices that will produce a cash flow sometime in the future. With this, you can easily project the historical trend for better decision making.
Mitigate financial risks
SAP Business One facilitates business owners to review short-term cash forecast and effortlessly manage daily operations tasks such as memo records, cash concentration, cash position and let you manage your cash better to mitigate financial risks.
Prevent bank balance overdrafts
Real-time cash positioning is imperative to prevent bank balance overdrafts. With SAP Business One software, it is easier to analyse your daily cash position and project your daily cash needs. Once you have ascertained an accurate cash position, you can reduce all the possibilities of bank balance overdrafts.
Manage bank errors and fraud
Timely bank reconciliation plays an important role as it protects you from any possible fraud. SAP Business One cash management helps to reconcile the difference between the bank statements you receive from your banks, and the corresponding amount reflecting in your accounting records. This functionality resolves the scope of conflicts, manage human errors, maintain accurate balances and monitor fraud.
Analyse daily cash inflows and outflows
Gain an overview of the daily cash inflows and outflows, and analyse details faster happened over days, weeks, months, quarters or years for all subsidiary companies. You can then identify the unusual cash flows. The data present in the software gives a high-level view to business users into the existing cash flow status.
It is rightly said that “cash is the king” and managing it well is an art. However, for most companies, the kingdom of cash has taken an intriguing turn owing to the diverse, dynamic, and often fragmented processes in managing liquidity management. Fortunately, there is now a better path forward with SAP Business One with all of these enterprise-wide cash activities
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