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Financial Management for Hard Times


Businesses are at a critical point. Global financial markets are under stress; they are not following fundamental economic principles, and companies cannot get loans and financing easily, if at all. On top of that, demand for products and services is falling, and risk avoidance is paramount.

As a result, businesses are refocusing on short-term, financial imperatives — cost savings, cashflow preservation, meeting financial covenants, maintaining access to financing, and better risk and credit management.

All of that might make you feel like a mouse in a house full of traps and cats. But if you can identify the key issues — with the help of a good enterprise resource planning (ERP) or e-commerce system — you can still assemble a solid financial management solution for hard times.

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