Covid Cash Strategies: Conversations with CFOs
The KPMG – Sidetrade UK Cash Management Report
We interviewed CFOs across UK sectors to understand:
- how they managed through the first lockdown
- how management of working capital and cash flow forecasting helped them navigate these challenging times
75% of CFOs said that Cash had become the #1 board agenda item as a result of COVID-19. The remaining 25% Ranked Cash as 2nd highest priority or had already implemented a strong cash culture before the pandemic.
UK unpaid invoice performance lagging behind Europe
- measures late payments by country and sector in UK and other key European countries.
- analyses 80m invoices – £111 bn (€124 bn) of transactions
Key findings include;
the UK has consistently been the worst performer across Europe in terms of payment performance, reaching a peak of 43% of invoices on average remaining unpaid in May 2020 during the national lockdown.
In this Report KPMG and Sidetrade analysed how different industry sectors performed during the first lockdown, and how CFOs responded. The report identifies that three key areas of focus for CFOs were –Digitisation, Transparency and Culture. It highlights the Top 5 actions taken by CFOs to manage cash better during the Covid-19 pandemic, and how to improve visibility of working capital. Examples are given of different metrics to manage working capital.
Sign up for the report and discover the Top 5 actions taken by experienced CFOs to manage cash during COVID-19.