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CFMA's 2021 Hybrid Conference & Exhibition

Improving Cash Flow & Inequitable Payment Practices


Jul 23, 2021 12:00pm ‐ Jul 23, 2021 1:00pm


Members: $49.00
Standard: $69.00

Description

This session will also be available for On Demand CPE credit in the new year.

Cash flow is one of the most important issues facing contractors today. Companies are faced with starting new projects, hiring staff, and investing in assets to support the business. More companies go bankrupt due to cash flow issues than due to profitability. Many things can and should be done to improve cash management practices. Practical tools and strategies to improve cash flow will be discussed. In most cases, they are improvements to existing practices that can be quickly implemented to put a focus on cash flow and drive the right organizational behaviors. This presentation will also quantify the impact of slow payment and identifies mitigation strategies to address inequitable payment practices.

Learning Objectives:
  • Increase profits with better billings and collections practices, and identify specific, tangible things contractors can do to improve payment cycles
  • Apply tools and techniques that optimize cash flow
  • Maximize cash flow with process standardization
  • Create transparency and accountability with measurement
  • Quantify the impact of slow payment
  • Identify tangible things contractors can do to improve payment cycles
  • Jurisprudence surrounding contract language and enforceability
  • Evaluate contractual negotiating points

Speaker(s):

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