Like every industry in our economy, COVID is upending banking as well. Economic turmoil and will likely accelerate many of the banking trends we saw at the end of 2019. The banking entities that were embracing the shift to drive segmentation and choice in the market will likely succeed best. As business owners, we should brace for another round of bank failures as debt defaults destroy bank equity.
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Understanding the cash flow activity of the organization creates insights to drive results. The cash performance report creates a clear cash flow picture of the organization by merging the Income Statement and Statement of Cash Flows.
Many organizations are starting to think about the 2021 budget cycle. Before you get too far in the planning consider these three elements to produce a quality budget.
A regular cash flow forecasting routine is a catalyst to achieve your growth goals. The forecasting process will force you to do the mental exercise of working ON your business instead of merely IN it.
Business leaders are often seeking ways to find a higher tier of growth and motivate the team to achieve more than they thought possible. We discuss performance with other words, such as targets and objectives.
