Last Thursday we had our Monthly Workshop with Interim Managers on "Smart Cash Optimisation" together with Kathleen Granjé (Cashforce) at the office boat of HRbuilders.
On request of our Interim Managers, this was the 2nd time Kathleen facilitated a session . The intention was, based on feedback from the 1st session in October, to dive more into the Cashforce tool. And so she did.
The session was kicked off with a break out on 4 questions regarding Cashflow Management:
- WHAT is Cashflow Management?
- WHO does the Cashflow Management?
- What are the CHALLENGES when doing Cashflow Management?
- ONLY IF - How would Cashflow Management look like in the perfect world?
Some feedback from the different groups after the breakout.
- In general Finance IM's were on the same page on WHAT Cashflow Management means to them: Optimizing Cash/Working Capital in AR/AP/Inventory. More specifically, for some the importance of variance analysis, FX risk and Financing was highlighted/stressed.
- With the audience of the evening the consensus was that, even if Finance is in the driving seat, there should be awareness on Cashflow Management within all the departments of an organization. -> WHO
- Multiple CHALLENGES were highlighted after the breakout sessions:
- Data Management & Accuracy
- Inventory Management
- Awareness within the organization
- Overview of cash movements
- Risk Management
- P&L versus Cash
4. The ideal world (ONLY IF) was presented as an environment where all data was accurate and on time, within 1 integrated system, where everything was automatically interfaced, using a KISS methodology...
After the Breakout session we had the chance to get a preview on the capabilities of Cashforce.
Some feedback from the IM's on the content of the session: "Very professional and clear overview", "Very strong hands-on cases", "Expert", "Good mix theory and examples".
As per the tradition, we closed the session with some bubbles.
I would like to thank Kathleen Granjé for the highly valued session & Nicolas Christiaen to join as well. Maybe there is room for a 3rd one in the 2nd half of the year :-)
If you want to participate as an IM in one of our next Workshops, feel free to subscribe with this link. Our next workshop for Finance Interim Managers will be March 9th on "Conflict Handling" - a topic I'm sure we all have been confronted with.
FINANCEbuilders is part of the VALUEbuilders Group and is a passionate, visionary Finance Interim Management company. We are committed to connecting great Finance people to the most challenging & fun assignments, whenever you need them