Tech CEOs must take action by setting up disciplined working capital management strategies that will conserve cash flow as well as safeguard their workforce and corporate culture during this uncertain period.
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How tech CEOs must lead through uncertainty in an economic crisis?
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Putting working capital management into rapid cash conservation and focusing on what is needed to support the operations of the business.
Current assets on the balance sheet are items that can be turned into cash quickly, providing liquidity for business operations.
Using the quick ratio at all times to determine your cash position and confirming whether there is enough liquidity to pay current liabilities.
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Focusing on accounts receivable and collections to improve the company’s cash balance during an economic crisis to increase sales income.
Having clear and constant visibility into the company’s performance and managing the business as close to real-time as possible.
Building a customer-centric culture to navigate uncertainty.
In times of economic uncertainty, tech CEOs who are prepared have the unique opportunity to capitalize on market opportunities and strategically exploit weakened competitors.
By leveraging their existing strategies along with time-tested marketing efforts, these strategic leaders can make strong investments that reap high returns.