A supply chain is a network of interconnected entities that work together to deliver goods or services to customers. It includes all the processes involved in sourcing raw materials, manufacturing, transporting, and distributing products.
In 2023, CFO are faced with a very complex, uncertain and a highly volatile business sphere to operate in. Currently, CFO’s are made to deal with the aftermath of the Covid-19 pandemic, the unending pressure to adopt ESG reporting, the need for digital transformation as well as post-election economic meltdown for the Kenyan based businesses.
For most businesses, unpaid bills/ open invoices have become a normal occurrence. Sadly, debtor management has become a nuisance for most businesses to an extent, most have decided close shop.
The Journal of Risk and Insurance has revealed that businesses with established Enterprise risk management procedures have a 25% chance of increasing their business value.
Enterprise Risk Management (ERM) standards are prescriptions that provide organizations a structure for controlling risks. Organizations may identify, evaluate, and manage risks that could have an impact on their operations, financial performance, and reputation.
The finance function is an important part of any business/organization that seeks to ensure efficient management of financial resources and maintain sustainable and viable growth in the long run.
Financial risk is a situation where a business loses money or is unable to meet its financial obligations as a result of poor cash flow management, high levels of debt, changes in exchange or interest rates, and market transactions or investments with a high level of vulnerability.
Would you like to stand out from your competition, cut costs, improve your cash flows, or take advantage of strategic opportunities available to your business?
The coronavirus pandemic has caused much disruption in business, pushing organizations to drastic action to survive and thrive. Firms in face-to-face service industries and the transport industry have especially been affected due to stay home and social distancing measures put in place by governments around the world.