ARTICLE · 07 SEPTEMBER 2021

Overcome The Cash Flow Challenge

SNG Grant Thornton

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The advent of the COVID 19 pandemic has brought about numerous challenges to an already complex business world globally and has reinforced the notion that businesses should "adapt".

South AfricaFinance and Banking

Tebogo Mokale

The advent of the COVID 19 pandemic has brought about numerous challenges to an already complex business world globally and has reinforced the notion that businesses should "adapt". The growing need for businesses to operate efficiently and be agile has never been any greater.

Unfortunately, most businesses have resorted to reducing their wage bill by retrenching staff to ride the crisis. Although this could be viewed as an ideal cost-saving measure, this does not necessarily always translate into immediate savings (due to costs of retrenchment) or better performance in the future.

This default cost-saving measure of "reducing the headcount" in most cases could be a way of papering over the cracks as the real problems are never really addressed. Some typical challenges that businesses are currently facing are:

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