A number of new challenges face Greek companiesin order to overcome this difficult period from the new data that emerge at international, European and consequently domestic level, let alone after a period long recession and immediately after the two-year pandemic. Challenges that focus on rising energy costs, shortages of raw materials and, more generally, price increases on commodities, which companies are called upon, in the context of their social role, to contain as much as they can.
That should be paid attention to
As reported by financial consulting company Nepa Economic Consultingcompanies of all sizes, but especially small and medium-sized ones, in such a period of time should see and examine much better with their financial addresses the budget of the next quarter on a very detailed basis, the cash flow and the flows that will be further created, as well as the redesign of their costing.
At this point, as reported by Nepa Economic Consulting, the importance of creating and ensuring a minimum level of cash flow is highlighted, especially in times of great challenge. It is of paramount importance and is achieved through a series of strategic decisions and moves, as a result of the financial architecture that has been prepared by the financial advisors of each company. Without cash and lending, a company can not cope, as it must support its customers (more credit days), but also keep a balance in stocks, for commercial and production companies or financing new projects, for service companies.
Statistics, the lack of Cash Flow (Cash Flow) is one of the most important reasons why a business collapses and then closes. Over time, the only way to avoid this worst case scenario is to create a “Cash Flow Budget” plan. Through the “Cash Flow plan” the management of the company is able, among other things, to predict the source and use of the Cash Flows for future periods, to identify a possible future liquidity problem, in order to make the necessary corrective actions in time, to plan the exact time shift of specific liabilities and to plan its investment plan smoothly. Finally, a company, having created a Cash Flow Budget, can determine if it will need borrowing in the future, as well as the required amount, in order to contact the cooperating credit institution in time.
Also, the companies themselves with the Human Resources (HR) departments they have, should consider and talk to their staff, considering ways to deal with the pressures that have an impact on the households themselves.
With the new data and the new serious challenges that companies face, the constant importance of automationτου modernization (digital) and the implementation of policies and procedures in each part of a business, in order to achieve the maximum reducing operating costs of any business. Also, issues that need to be emphasized by a company even in normal times, such as the aging of liabilities, come up again, as we are generally in an ever-changing market and the existence or constant search for alternatives in terms of the constant flow of its stocks, and much more in times of crisis.
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