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With the global economy in crisis, corporations will be seriously challenged to maintain desired profit margins and generate adequate cash and liquidity to fund their normal operations. Further complicating their ability to obtain liquidity is the fact that the banks on which corporations rely for short-term financing are themselves struggling with depleted capital structures, a reduced appetite for risk, and a reluctance to lend money.

Against this backdrop, non-financial corporations must increasingly depend on their commercial or operating cash flows to sustain operations. This has critical implications. First, enterprises must take steps to ensure the health of their commercial cash flows. As their primary source of cash, accounts receivable must be managed to ensure the amount and timing of critical cash flows is not compromised.

Second, they must increase their visibility into their sources and uses of cash to improve their ability to forecast cash and improve overall cash utilization.

Third, they must increase control over their cash on hand. This is particularly challenging for companies with global operations that may have their cash balances fragmented across different geographies, banks, and bank accounts, which makes accessing cash difficult.

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