Cash-Proofing Your Business
(2 days)
Leveraging Innovative Cost Control, Collection and Cash Flow Optimization
Cost Control, Collection & Cash flow is the lifeline of a healthy business. It is the primary responsibility of the CFO Chief Financial Officer. However, business decisions must be taken and executed by all managers including the CEO. The CFO does not run the sales team and manage the factory operations nor their costs. Managing the cash flow, cost & collections is a companywide issue involving the understanding and support of the managers and the management team.
Poor understanding and bad business decisions cannot be cured by the CFO. Therefore, the management team need to be clear on what drives the cash flow conditions while working in cooperation to break the silo thinking to ensure holistic financial and business health.
Cash-Proofing Your Business” focuses on leveraging innovative approaches to enhance cost control, streamline collections, and optimize cash flow. Through insightful discussions, practical case studies, interactive workshops, and expert insights, participants will gain actionable insights to safeguard their businesses against financial challenges and drive sustainable success.
These essential skills will empower right incisive actions to address better financial decision making that will lower credit risk, improve cost effectiveness and cash availability towards its best and optimal use for maximizing profit, investment and liquidity and ensure a secure and healthy financial health in uncertain times ahead.
By the end of the two-day program, participants will be able to:
- Understand the critical importance of effective cost control, collections, and cash flow management in business sustainability.
- Identify areas for innovative cost control and implement strategies to optimize operational expenses.
- Develop techniques to enhance collections, reduce receivables, and ensure timely payments.
- Utilize advanced cash flow optimization tactics to manage liquidity, forecast, and mitigate financial risks.
- Integrate technology and data-driven insights for improved financial decision-making.
- Create a comprehensive action plan to strengthen the financial resilience of their businesses.
- Optimize the Business for maximizing profit, investment, and liquidity to ensure a secure and healthy financial future.
The instruction process is structured based on adult learning concepts and application. The process includes a cross spectrum of lectures, individual and teamwork discussions, team action planning and resource feedback. The workshop sessions are enriched by audio-visual materials and experiential group dynamics to reinforce learning.
Overview of Financial Health & Assessment
Module 1: The Significance of Cost Control
- Understanding the impact of cost control on business health and growth.
- Identifying cost drivers and recognizing potential areas for improvement.
Module 2: Innovative Cost Management Strategies
- Exploring unconventional cost-cutting approaches while maintaining quality.
- Leveraging technology, automation, and sustainable practices for cost control.
Module 3: Efficient Resource Allocation
- Analysing resource allocation patterns and optimizing resource utilization.
- Case study: Successful resource allocation strategies from diverse industries.
Module 4: Streamlining Operational Efficiency
- Identifying operational bottlenecks and streamlining processes for cost reduction.
- Implementing Lean and Six Sigma principles for process improvement.
Module 5: Strategic Collections Management
- Developing strategies to enhance collections, reduce overdue accounts, and improve cash inflows.
- Communication techniques for maintaining positive customer relationships while ensuring timely payments.
Module 6: Advanced Cash Flow Forecasting
- Utilizing data analytics and forecasting models to predict cash flow trends.
- Creating robust cash flow projections for effective decision-making.
Module 7: Liquidity Management & Risk Mitigation
- Navigating liquidity challenges and mitigating financial risks through proactive planning.
- Case study: Strategies to manage cash flow during economic uncertainties.
Module 8: Integrating Financial Intelligence for Business Insights & Decision Making
- Leveraging Information and Intelligence for real-time financial viability actions and decision
- Harnessing data-driven insights to optimize cash flow strategies.
Module 9: Creating Your Cash-Proof Action Plan
- Synthesizing learning into a customized action plan for cost control, collections, and cash flow optimization.
- Identifying key milestones and responsibilities for implementation.
Program Conclusion: Moving Forward with Financial Resilience
- Reviewing key takeaways and insights from the program.
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Kenny Tay is a Chartered Accountant with many years of financial experiences in the banking, finance and corporate sector, including over twenty years of people development and financial skills training inside and outside Malaysia.
His major work experiences included a long stint with the merchant bank affiliate of the Chase Manhattan Bank (now JP Morgan) before moving to the Royal Trust Co, Canada, and finally with the United Overseas Bank, Sydney operations. He was also a capital market licensed holder in the Australian and Malaysian securities markets before specialising in financial skills and human capital development.
Currently he designs and delivers training courses to banks and non-bank organisations across Asia and leads the training team at the Australia New Zealand Institute, NSW, where he is the CEO. His teaching and training experiences and skills have been used in training events for more than 20000 participants since 2000.
He has also authorised some publications among which is ‘Corporate and Business Lending’ for banking managers and ‘Financial Intelligence’ for the general readers. Both books are available at Google Books.