The scale of the impact on the Global economy is nigh on impossible to fully assess as we navigate through this pandemic. What it means now is that businesses are more reliant than ever on the strength of their relationships with their customers and suppliers to maintain the flow of business. Government financial aid and rebates are only so good, but if you don’t have a short term strategy to protect your cashflow, they will run out.
Debt is finite. Generating cashflow from ongoing works and/or services completed by your business is not.
This means that in the interests of your business, considering other cash injection models such as Invoice Finance and Leasing is a sure way to maintain capital within your business.
By availing of Invoice Finance with GRENKE, you get the time and financial freedom when you need it most. This type of financing option allows you to sell your accounts receivable (invoice) for immediate cash, getting paid in a matter of 24 hours rather than waiting far over the agreed terms. Think of all the other things you can be doing to support your business in its recovery and restart if you knew your invoices were being paid and you were being helped collect in all outstanding debt.
Further, with our “Cashflow Optimizer”, we take on your collections and release your invoice funds directly to you, one invoice at a time – no long term commitment.
Our risk free and convenient approach ensures you spend more time focusing on what’s important, the stability of your business.
Invoice financing may bridge the cash flow gap in your business.
GRENKE is famous in Germany for its sponsorship and support of Chess, both locally and internationally. In Chess, the strategy of the game centres on making moves to protect one piece, your King. In business, we call Cash our King as the saying goes. In a time, where strategy in business is needed most, perhaps we all need to look at the wider perspective in order to protect our King!
Here are some key tactics we can all use to guide us to victory from a book written by Bruce Pandolfini which looks at Strategies from Chess for Business and Life.
- Beyond what you can calculate, you must rely on strategy to guide you in finding the best plans and moves in your current position.
- Evaluate your position, see it from both sides of the playing table - your Debtors & Creditors are equally important
- Your players are powerful, use them to the best of their abilities - your staff and the relationships they have with your stakeholders are key
- Your first moves are the most important - how you engage with your clients and suppliers will be remembered for a long time to come
- How you want to end can change your position into a winning one – is “winning” breaking even these days, or, are you in full opportunity mode with a business pivot.
Choose the moves that are most suitable to your business in this current environment.
For Fast, Forward, Finance see www.grenke.ie for more details.
