How To Avoid Cash Flow Mistakes and
Reduce Expenses for Your Business
Thursday August 23, 2018
11:45 am to 1:30 pm
Where and When:
Join us for complimentary lunch in the Symetra Building classroom on the main floor
Park in the Symetra Building 777 108th Ave NE, (entrance on 108th)
Bring your Parking Ticket for Insperity to 2 hours free validation
Discover what every CEO or business owner should know to properly manage cash. Learn how to have more cash, avoid running out of cash, and learn some tricks of the trade in this special workshop in partnership with Insperity.
Cash flow is a barometer of your business’ health. As long as you have cash flowing in and out of your business, you can keep the doors open for business, even if you are not profitable.
Gain a broad understanding of the basic principles and practices of cash and liquidity management and an understanding of its importance to the business.
While different market sectors have different cash flow dynamics, there are common cash management issues that affect all organizations to some degree. To prepare you for these issues the presentation examines the basic building blocks of cash management from the domestic perspective.
The presentation is delivered in a safe environment for you to ask questions and learn practical skills you can immediately apply back in the workplace. You’ll meet like-minded people and hopefully make some great contacts too.
Mark Mitchell, President of Creekside Consulting Company is an entrepreneurial senior executive. He has spent the past 20 years as an executive and consultant who integrates a broad range of skills and experience for early stage and growth companies.
Mark brings a valuable operational perspective as well as financial management, banking, insurance, and risk management experience with public and private companies. As President of Creekside Consulting Company, Mark has advised senior executives with technology and non-technology companies on financial and operational issues as a part-time CFO or COO.
His company provides business owners with the knowledge needed to address specific business problems with a flexible and affordable alternative to high-level expertise but not with the cost of hiring a full-time COO or CFO.
Bruce Follansbee, from Expense Reduction Analysts (ERA). ERA has found that most companies do a good job of managing their core expenses, however, when it comes to non-core or indirect expenses, they are still leaving 10%-30% on the table across many large overhead expense categories. ERA has over 600 consultants that validate this every day, and they continue to surprise companies by how much, and where, they find additional savings for their ERA clients.
He will reveal how these levels of savings are still possible, without any sacrifice to supplier quality or service.
With twenty-five years of experience in finding hidden cash flow in clients’ overhead expenses, ERA is in a unique position to describe the specific dynamics in the customer-supplier relationship that contribute to this problem, and
Bruce will reveal the Top 10 most common Misconceptions about procurement held by most professionals in procurement roles and how those misconceptions further contribute to the problem.
The largest segment of the presentation is dedicated to sharing the Top 10 Best Practices that will show the audience how they can get similar results as ERA and take their expense management strategies from good to exceptional. We will describe key principles that financial executives will be able to implement in their own organizations to begin recovering significant cash flow to put back to work in their business. Detailed examples designed for an executive audience will be provided to help illustrate each of the principles to ensure understanding.
These best practices will help the audience understand how to develop an effective strategy to recover additional cash flow. They will learn:
Why their actual purchasing history is very different from what they think;
How many of their company’s processes and assumptions are resulting in the wrong requirements for their suppliers and are systematically leading to higher supplier prices and costs;
What they need to know about their suppliers and how that knowledge will lead to lower cost supplier relationships;
How they can go to the supplier markets more effectively, negotiate better as an organization; and monitor progress for sustained results; and
How they can maintain the new stream of cash flow by creating a greater expense control mindset within their organization’s culture.
Focus on your business growth
New Tech Northwest is presenting this workshop in partnership with Insperity. They work with SMB’s to offer a comprehensive and customized HR / Business Performance Solution designed to help businesses become stronger and more strategic. Through their dedicated service team and award-winning technology platform, they help contain costs, minimize risk/liability and administrative burden, while increasing employee productivity and engagement. Learn more about how they can help your company here.