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Benchmarking for Working Capital Strategies

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Good to excellent businesses frequently attempt to optimize their company's cash management function by incorporating best practices to reduce external financing cost, lower bank charges, minimize risk and manage long- and short-term liquidity. These companies approach working capital management with a goal to lower costs and free up resources for investment and growth...
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They take full advantage of myriad opportunities to strengthen cash flow and cash budgeting, settle payments quickly, reduce working capital liabilities, negotiate favorable payment terms with suppliers, establish clear accountability in accounts payable and receivable, increase the value of collections personnel, and gather better information to support strategic decision making for long term opportunities (Murray, 2006)...
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