Improving cash flow is the top priority for Fortune 1000 firms as they navigate through a mine-filled economy, according to a study from Vengroff Williams & Associates Inc. of Garden City, Calif.
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A full 90% of the 45 collections and receivables executives at Fortune 1000 companies surveyed in April reported that they were significantly concerned about both cash flow and tight liquidity.
That same percentage responded that they were constantly examining ways to get cash flow under control and their primary issue was capital management.
A full 72% of respondents said that their company reviewed overdue receivables on a weekly basis.
In addition, 68% of those surveyed said their companies tightened credit policies in response to the current credit crunch.
And 76% of the respondents said that the single biggest challenge facing their companies was handling the volume of work with limited resources.
Vengroff Williams provides receivables-management outsourcing for Fortune 1000 companies.
Friday, May 15, 2009
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