Deane Plummer joined Alcon in 2009 as Treasury Manager for EMEA to build the treasury operations in Europe after Alcon spun off from Nestle. He automated many treasury processes that were previously manual at Nestle, including setting up euro, sterling, and other currency cash pools and selecting Citibank as the main bank. Plummer also implemented a commercial cards program to reduce manual expense reporting. Now that Alcon is merging with Novartis, Plummer aims to gain efficiencies through joining Novartis' treasury operations while maintaining the automation and centralization he established.
The Company Profile contains a summary of Credit Suisse’s strategic direction, an overview of its organization and a brief description of its key businesses.
Download the 2013 Company Profile (PDF): http://bit.ly/1mBBfEn
hapter 5 Cash Flow ManagementLearning Objectives· To understan.docxshericehewat
hapter 5 Cash Flow Management
Learning Objectives
· To understand the meaning of working capital
· To understand the different types of cash flow
· To understand the cash flow cycle
· To learn strategies for improving cash flow management
Case: De Werks, S.A.
It was Friday afternoon, and the staff were about to leave early for the weekend. Carlos was sitting in the same office as Roberto, CEO and founder of De Werks, S.A. De Werks is a company founded in 2004 and headquartered in northern Italy. The company had become the largest advertising portal for jobs in the country and had expanded its operations to Serbia, Bosnia, and Herzegovina. The numbers posted on the wall of its office looked good. The company had exceeded its sales projection by a large amount, and there was a feeling of well-earned success among its sales team. For the company's staff, it felt almost as if the stress associated with its startup phase was finally over. Now everyone believed the company was heading toward better times.
As Carlos and Roberto were discussing their plans for the weekend, the venture's accountant entered the office with a confused look and a pile of papers in her hands. The topic of her report involved cash, and the essence of her report was decidedly bad news. After 20 minutes of lively conversation, she left the room with a concerned expression on her face. Roberto kept looking at the papers, confused and shocked at the same time. Finally, Carlos and Roberto looked at each other and exclaimed, “We are out of cash.” All of this despite the fact that for the last 2 months, the sales figures were terrific, at least on paper. “We have no cash to pay salaries next week,” Roberto said. “How will we do it?” asked Carlos. The company indeed was doing well in terms of revenues, but clients were not paying on time, and their delays were affecting the company's cash flow. By focusing its efforts on increasing revenues, management had forgotten that cash flow is the blood that runs through a company's veins. When Roberto sent out a companywide e-mail message explaining what was going on and asking for a delay in paying salaries, employees were far from understanding. Employees could not understand why their wages were postponed to an undefined future date when the company seemed to be doing so well.
If “cash is king,” cash flow is the blood that keeps the heart of a king beating. The proper management of cash flow is one of the most critical components of success for entrepreneurial ventures. Without cash, an entrepreneur will not be able to pay suppliers, bills, salaries, or even taxes. In fact, a profitable business on paper can end up in bankruptcy if the cash coming in does not exceed the cash going out of the venture. In this chapter, we will explain the importance of cash flow management and how managers and entrepreneurs can prevent cash flow issues as well as creative ways to collect accounts receivable and delay account payables. Chart 5.1 presents a ...
The Company Profile contains a summary of Credit Suisse’s strategic direction, an overview of its organization and a brief description of its key businesses.
Download the 2013 Company Profile (PDF): http://bit.ly/1mBBfEn
hapter 5 Cash Flow ManagementLearning Objectives· To understan.docxshericehewat
hapter 5 Cash Flow Management
Learning Objectives
· To understand the meaning of working capital
· To understand the different types of cash flow
· To understand the cash flow cycle
· To learn strategies for improving cash flow management
Case: De Werks, S.A.
It was Friday afternoon, and the staff were about to leave early for the weekend. Carlos was sitting in the same office as Roberto, CEO and founder of De Werks, S.A. De Werks is a company founded in 2004 and headquartered in northern Italy. The company had become the largest advertising portal for jobs in the country and had expanded its operations to Serbia, Bosnia, and Herzegovina. The numbers posted on the wall of its office looked good. The company had exceeded its sales projection by a large amount, and there was a feeling of well-earned success among its sales team. For the company's staff, it felt almost as if the stress associated with its startup phase was finally over. Now everyone believed the company was heading toward better times.
As Carlos and Roberto were discussing their plans for the weekend, the venture's accountant entered the office with a confused look and a pile of papers in her hands. The topic of her report involved cash, and the essence of her report was decidedly bad news. After 20 minutes of lively conversation, she left the room with a concerned expression on her face. Roberto kept looking at the papers, confused and shocked at the same time. Finally, Carlos and Roberto looked at each other and exclaimed, “We are out of cash.” All of this despite the fact that for the last 2 months, the sales figures were terrific, at least on paper. “We have no cash to pay salaries next week,” Roberto said. “How will we do it?” asked Carlos. The company indeed was doing well in terms of revenues, but clients were not paying on time, and their delays were affecting the company's cash flow. By focusing its efforts on increasing revenues, management had forgotten that cash flow is the blood that runs through a company's veins. When Roberto sent out a companywide e-mail message explaining what was going on and asking for a delay in paying salaries, employees were far from understanding. Employees could not understand why their wages were postponed to an undefined future date when the company seemed to be doing so well.
If “cash is king,” cash flow is the blood that keeps the heart of a king beating. The proper management of cash flow is one of the most critical components of success for entrepreneurial ventures. Without cash, an entrepreneur will not be able to pay suppliers, bills, salaries, or even taxes. In fact, a profitable business on paper can end up in bankruptcy if the cash coming in does not exceed the cash going out of the venture. In this chapter, we will explain the importance of cash flow management and how managers and entrepreneurs can prevent cash flow issues as well as creative ways to collect accounts receivable and delay account payables. Chart 5.1 presents a ...
The Annual Report provides comprehensive information on Credit Suisse Group’s financial statements, its corporate structure, corporate governance and compensation practices, treasury and risk management framework, as well as a review of the operating and financial results.
- Download or order the Annual Report: http://bit.ly/1ZI30Os
- Visit our website for more information: http://bit.ly/1ZvcvBg
On May 26th and 27th, BNP Paribas hosted the 9th Cash Management University. This edition discussed several topics concerning 'innovations in cash management"
The 10 most innovative business leaders making a difference in 2021 (1)Swiftnlift
specialize in connecting corporate #buyers and sellers, enabling businesses to #economically and efficiently #export and import goods and services.
With The Special Edition Of The 10 Most Innovative Business Leaders Making A difference in 2021, We Have Feature Euro Exim Bank On Our Cover Page.
Capital V #2 Akuo Investment Management a holistic view on businessLuis Galveias
Proprietary magazine of the Luxembourg Private Equity & Venture Capital Association
www.lpea.lu
Index
5. Editorial
Welcome to capitalV
6. Regulatory
AI FMD remuneration: Exceptions make the rule
8. Personal Story
A stable base for investing in a frantic world
10. Cover story
Akuo Investment Management [AI M],
A holistic view on business
14. Deal Story
SecureIT : How Luxembourg got on the data centre map
16. Interview
EI F Social Impact Accelerator Fund
18. Building Bright Futures Together
Setting the stage for niche-based biomedicine
20. Regulatory
Bringing Substance to Luxembourg
22. Life In Luxembourg
The expat education conundrum
24. Event Calendar
What, When, Where
The Annual Report provides comprehensive information on Credit Suisse Group’s financial statements, its corporate structure, corporate governance and compensation practices, treasury and risk management framework, as well as a review of the operating and financial results.
- Download or order the Annual Report: http://bit.ly/1ZI30Os
- Visit our website for more information: http://bit.ly/1ZvcvBg
On May 26th and 27th, BNP Paribas hosted the 9th Cash Management University. This edition discussed several topics concerning 'innovations in cash management"
The 10 most innovative business leaders making a difference in 2021 (1)Swiftnlift
specialize in connecting corporate #buyers and sellers, enabling businesses to #economically and efficiently #export and import goods and services.
With The Special Edition Of The 10 Most Innovative Business Leaders Making A difference in 2021, We Have Feature Euro Exim Bank On Our Cover Page.
Capital V #2 Akuo Investment Management a holistic view on businessLuis Galveias
Proprietary magazine of the Luxembourg Private Equity & Venture Capital Association
www.lpea.lu
Index
5. Editorial
Welcome to capitalV
6. Regulatory
AI FMD remuneration: Exceptions make the rule
8. Personal Story
A stable base for investing in a frantic world
10. Cover story
Akuo Investment Management [AI M],
A holistic view on business
14. Deal Story
SecureIT : How Luxembourg got on the data centre map
16. Interview
EI F Social Impact Accelerator Fund
18. Building Bright Futures Together
Setting the stage for niche-based biomedicine
20. Regulatory
Bringing Substance to Luxembourg
22. Life In Luxembourg
The expat education conundrum
24. Event Calendar
What, When, Where