10 Fundamental Questions Every Cash Manager Should Review

As a cash manager you are mainly responsible for managing cash operations and banking relationships. Although day-to-day routines will look quite different, there are 10 fundamental questions every cash manager should review from time to time.

The first five questions are related to cash visibility:

  • How much money does my company have?
  • Where is that money located around the world?
  • Is that money invested best?
  • How can I avoid trapped cash?
  • What´s the most efficient way to handle bank accounts and cash flows?

The last five questions are looking at the payment side:

  • Should I handle payments centrally or locally?
  • Who has to approve which payments?
  • What´s the most efficient and secure way to execute payments?
  • Do I have audit logs for payments to assure compliance?
  • How can I reduce payment cost?

If it takes you a long time to answer these questions, you might have outgrown your existing set-up. As companies grow internationally, new currencies, bank accounts, bank partners, regulation and subsidiaries add complexity that their spreadsheets or outdated software cannot handle anymore. Using new technology such as cloud-based treasury systems can help you increase cash visibility and payment efficiency. By capturing real-time cash flows in a single place, automating cash and payments workflows, and connecting global subsidiaries and banking partners, these platforms make things simple again.

To help improve your cash visibility, read our eBook.