Cambridge Business Association
A Cash Management Survival Guide
Article

A Cash Management Survival Guide

Tobias Wens, Jochen Schönfelder and Jeff Gordon
Boston Consulting Group, 2020
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Recommendation

Enduring a crisis often means focusing on fundamentals: what it takes to survive. Cash flow is as essential as breathing for a business – and during the pandemic crisis, cash management has become the overriding priority. Jochen Schönfelder, Tobias Wens and Jeff Gordon – all managing directors and partners at Boston Consulting Group – have written a brief but valuable guide to cash management when survival is the line. Leaders will appreciate their timely, concise advice.

Summary

During the COVID-19 crisis, companies need to prioritize cash management.

The pandemic crisis is subjecting businesses to risks of insolvency and the imperative of taking quick action to avert disaster. During the crisis and recovery – that is, until at least the autumn of 2021 and possibly much longer – business leaders will need to prioritize cash management. For leaders whose companies encounter severe liquidity challenges, three actions can help them weather the crisis.

Create a dedicated cash management office.

Establish an office that will...

About the Authors

Jochen Schönfelder, Tobias Wens and Jeff Gordon are managing directors and partners at Boston Consulting Group.

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