Taking care of the financial health of your company or small business is easier than many imagine; it only requires strategic planning and efficient resource management. Leonardo Ramos, Country Manager for Mexico at Clara, a corporate expense management firm, explained that ensuring the payment of bills is the first step to achieving these objectives. He indicated that it is also necessary to maintain a healthy cash flow and enable investments for growth, as well as to pay special attention to all the financial processes involved.
To start off on the right foot in 2025 and take care of the financial health of your company, you need some key advice. The Clara executive mentioned five important recommendations:
1. Use solutions that save time for the finance team and prevent improper reimbursements. 2. Rethink payment methods to increase liquidity instead of prioritizing cash payments.
3. Incorporate artificial intelligence into financial processes to facilitate the analysis of savings opportunities, since finance teams are often overwhelmed with demands. 4. Review reimbursement processes to avoid mismanagement and ensure a clear expense policy.
5. Simplify national and international payments with flexible financing, which can optimize cash flow and adjust payments to strategic installments.
Additionally, it is essential to optimize both payments and collections to improve cash flow health. Tools like SPEI with credit lines can be useful for making quick transfers without compromising immediate liquidity.
On the other hand, facilitating the deduction of expenses with intelligent technology can maximize deductible expenses and simplify the recovery of invoices. Artificial intelligence becomes a crucial ally for analyzing spending patterns and identifying situations that require quick adjustments.
In summary, taking care of your company's financial health doesn't have to be complicated if the right strategies are implemented and the technological tools available in the market are leveraged.
