As globalization increases, technology advances and the number of suppliers and vendors available to an organization proliferate, the foresight to take a broader view of working capital management can become a competitive advantage.
Solely focusing on traditional approaches to cash management can limit a treasurer's ability to manage working capital in a holistic way. One of the keys to effectively managing working capital is to apply a strategic approach to all operational areas of a business. In other words, treasurers can better manage working capital by looking into functions beyond finance.
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