Since most companies were unprepared and suddenly hit by the corona crisis, a short reaction time is now required to implement effective measures to secure their continued existence. From our almost 40 years of practical experience as turnaround managers, we can provide you with the following three recommendations for fast, effective liquidity management:

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First:
Securing liquidity is a top priority for the management!

Do not shy away from a top-class and cross-functional group of participants: Involve the most capable employees and ensure they are authorized to make decisions: Management, department heads and, if necessary, individual knowledge and performance providers.

01

Second:
Create transparency!

Set up a daily updated dashboard as quickly as possible to provide an overview of liquidity developments and key performance indicators. Other "strategically important" controlling tasks can wait.

02

Third:
Promote 360-degree communication!

At the beginning, meet daily if possible, but as briefly as possible, preferably standing up. The employees will appreciate the trust placed in them and will implement the defined measures with the necessary commitment. Include all relevant stakeholders in your considerations.

03

Establishment of a liquidity office for "overwintering phase"

Here are the main points:

  • Introduction of no-go policy
  • Use of rolling weekly liquidity planning
  • Adjustment of corporate planning


> Overview as PDF

Conclusion:

Your special focus with regard to securing the existence of your company should be on the topic of liquidity!

As the company with the most experience in the market, especially with German medium-sized businesses, we not only guarantee pragmatic support in the COVID-19 phase, we will also accompany all implementation and turnaround measures and ensure their transparency, effectiveness and sustainability right from the start. Take us at our word!

Your contact in the COVID-19 phase:

Georgiy Michailov
Managing Partner
Dipl.-Volkswirt, B.M. (TSUoE)
Email to Georgiy Michailov
T +49 (0)221 91 27 30 - 15

Your expert for Liquidity planning:

Jessica Hirsch
Partner
Dipl.-Betriebswirtin
Email to Jessica Hirsch
T +49 (0)221 91 27 30 - 68

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