Cash management services to increase profits

What is cash management?

With most companies having numerous cash inflows and outflows, it is vital that these flows are correctly managed in order to maintain the business’ stability, meet its payment commitments, and plan for growth. Even if a company is profitable over the course of a year, there may be months when expenses overtake income which can cause problems. A recent study found that 82% of businesses that fail, do so because of poor cash management. For growing start-ups, it’s particularly important as they need large amounts of cash to grow.

Investing in stock, employees, and premises is all well and good, however, if the cash isn’t available, and at the right time, a growing business can quickly run into trouble. Even for established businesses, it can be a major issue also. Too little cash and a business may need to take on debt to meet its expenses — but too much cash and they could be missing out on investment returns. It’s a balancing act that needs careful planning.

hiline’s approach to cash management supports growth

In a bid to help businesses grow more securely and healthily, hiline has constructed a cash management system built around four fundamental pillars:

Process Vendor Payments + Manage Workflow

The efficient and systematic processing of vendor payments encourages a solid relationship between a business and its suppliers. This, coupled with the optimization of a business’ workflow to increase output while reducing costs, establishes a stable framework that encourages growth.

13 Week Cash Flow Analysis

From petty cash purchases to more major investments, hiline’s cash forecast makes sure your business is liquid enough to meet all of its short-term needs. With regular analysis, you’ll gain an improved understanding of where your money is going and why.

Cash Collections Support

The collection of payments and their reconciliation can be a time-consuming task. By implementing an automated collection system that suits your business, you’ll save time and money, allowing your business to thrive.

Banking Relationship Management & Oversight

From audit trails to fee analysis, effective bank account management is essential. Irrespective of how many accounts your business may have, their efficient and verifiable management will reduce administration costs significantly.

Cash Management is just one piece of the accounting puzzle

With hiline’s cash management structure working hand-in-hand with hiline’s other accounting systems, your business is going to be in the best possible position to grow. Working with our HR & Payroll services, you’ll be ready to expand your workforce at the optimal time for your company. With our tax advisors preparing your business for the future and our CPAs serving as trusted advisors, the challenges that every business faces can be managed and mitigated.