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Cash is king and credit is crucial: Operating in a crisis

Mar 29, 2020 · 2 min read

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By Kenneth W. Witt, Senior Manager — Management Accounting and Member Engagement

The ongoing coronavirus crisis is having an unprecedented impact on the economy. As a recent pointed out, businesses need to immediately respond in three decisive ways:

  1. Scenario planning and stress tests to understand cash needs under different potential situations

  2. Focus on key customers to understand commitments and explore options to minimize losses

  3. Get a jump on cash flow to prepare for things to get worse before they get

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