In an increasingly uncertain world, companies must build stronger relationships across their ecosystems if they are to achieve future growth.
The way we use technology has completely streamlined the way we live, communicate and do business across the globe. Therefore, companies must build and create ways to retain business resiliency, particularly on the cash collection cycle.
In this episode of PodChats for FutureCFO, Albert Leong, managing director of Esker Asia, shares his views on how building a harmonious business ecosystem will help you accelerate your cash conversion cycle, encourage positive-sum growth and speed up cash collection cycles.
1. What is cash conversion cycle (CCC)?
2. What are some of the key challenges finance professionals face that impact their CCC?
a. Impacted collection cycles
b. Disconnection with vendors/customers & employees due to hybrid working model
c. Visibility
3. How has Esker enhanced CCC processes?
a. Positive sum growth: building a healthy ecosystem that benefits everyone (Everyone wins)
4. You mentioned positive-sum-growth. Can you elaborate on how that will impact an organisation?
a. elaboration on positive-sum growth (how esker can help with healthy ecosystem & business resilience)
5. How Is Esker different from an ERP & why should they choose to automate? [ERP has its own AR/AP modules – why do you need Esker?] 60% of Esker customers are using SAP. ERP agnostics.
6. The call to action of business leaders (C-suites and boards) in 2021 is resilience. What needs to happen with regards to CCC to support this resilience mandate? [Big hole in AR – cash collection, disbursement, deploy with minimum investment, O2P and P2P]
7. What is your advice to finance leaders looking to maximise the return on their CCC strategies?
