During A Cash Flow Crunch, Revenue Cycle Management Should Be On Autopilot

What causes most organizations to close following an unexpected economic disruption? Usually it is cash flow. Many organizations don't have enough cash on hand—or access to enough working capital—to survive a temporary revenue downturn and/or the costs of restructuring their business models and bringing them to profitability.

That is why a cash management plan is an essential part of any crisis management program (see Strategy In Uncertain Times: Planning Resources For The New Normal). There are a few key elements to cash management— negotiating extended payments to vendors and more speedy payments from customers where possible . . .