There has been widespread uncertainty enshrouded in the global economy since the outbreak of COVID-19 pandemic, and many businesses have become vulnerable with cash flow and liquidity due to operational constraints. Given the pandemic’s potential long-term impact, maintaining sufficient cash flow and liquidity has become paramount.
The Tricor team has prepared a Business Resilience Action Plan with four steps on how to address immediate cash flow challenges and empower business leaders to protect the financial health of their businesses.
To maximize working capital and cash flow, simply focusing on tightening your own operations and adjusting inventory levels will only help in the short and medium term. In the long term, you need to think about your entire operational ecosystem and extended supply chain. To plan ahead for the "new normal" businesses must evaluate their internal operations and also identify potential risks within customer bases and extended supplier networks.
For more information, please download our COVID-19 Business Resilience Action Plan: Best Practices for Optimizing Cash Flow & Liquidity Planning and contact Tricor’s COVID-19 Response & Recovery Team at consultation@hk.tricorglobal.com and (852) 2980 1888.