5 Working Capital Challenges to Tackle by 2020
Positive economic growth paired with low interest and unemployment rates have characterized a relatively strong economy over the last few years. But there are concerns the health of the global economy is weakening.
75% of U.S. economists see a downturn by 2021, but there are already downturns happening in countries across the world. This means companies need to start preparing today to make a real impact in 2020.
In this perspective, you’ll read about the top five working capital threats companies are facing and how supply chain finance can be a beneficial alternative to debt and cost cutting.
Failure to tackle these threats could result in unnecessary hardship, while those that overcome them now will be well-positioned to gain market share during the next downturn.
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No matter what economic environment you are experiencing, these are the top five priorities you and your team should focus on to thrive and grow regardless of economic conditions:
- Diversify both short-term and long-term funding strategies beyond commercial lending
- Optimize working capital to mitigate risks tied to tariffs and trade policies
- Overcome the negative impacts Brexit will have on supplier bases
- Mitigate cost increases in logistics in order to invest more in revenue growth
- Meet demands for transformation while helping your suppliers do so, too.