Thursday, October 22, 2015

How Do You Manage Cash Flow in Multiple Currencies?

iStock/Maxsattana
What's the toughest part of managing cash flow in multiple currencies?  The fact that small businesses may not know exactly what they are paying or being paid at any given moment.
For a small to medium enterprise [SME] that conducts part of its business overseas, currency stability is something that can never be taken for granted. A volatile exchange rate is the hidden profit killer – the past few months alone have demonstrated this with the Euro moving against the pound by as much as 17% at times - yet SMEs do not always have the in-house expertise needed to protect profits against such fluctuations.
What do you do?

Read more:  Managing cash-flow in different currencies

1 comment:

Rob Visual said...

Agreed. With the global market fluctuating so much every day it can be really hard to keep track of costs and profits. Howard's article points out that more SMB's are checking currency fluctuations regularily, but I think the next logical step is to implement business software that helps to manage and optimize the process.