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Spotlight on Solutions | October 2024 Identifying smart cash flow management strategies: 3 real-life scenarios

How three Truist relationship managers helped their clients optimize their cash conversion cycles

Our Spotlight on Solutions series highlights three ways Truist relationship managers helped different businesses tackle a common challenge. It’s a great illustration of how our Truist Business Lifecycle Advisory approach centers on understanding your business inside and out—so we can offer the advice and solutions that best fit your specific needs.

Here, we focus on accessing capital that’s tied up in day-to-day operations to control cash flow and improve your bottom line. Solutions like automating payables and receivables or implementing a purchasing card program can tighten payment processing cycles so money goes into your accounts more quickly—while also reducing the costs of traditional processing.

See how Truist relationship managers helped three businesses achieve smarter cash flow.

Overhauling financial processes for a better bottom line

Challenge: The client had recently experienced cash flow management issues that had negatively affected the company. After bringing in a new CFO and controller, they were looking at all areas where they could make improvements.

Insights: Truist identified a combination of obstacles that were negatively affecting cash flow:

  • Older accounts receivable system
  •  Increased accounts payable
  • Lack of quality inventory controls
  • Tax issues

Solution: Truist suggested a forensic accounting review to clean up the company’s financials.

  • Recommendations included the implementation of a new enterprise resource planning (ERP) system.
  • Truist also provided guidance around proper financing and capitalization structure.
  • That guidance led to an equity infusion that significantly improved cash flow.

Sweeping away finance charges for increased savings

Challenge: The client was looking to streamline management of their accounts receivable. They needed cash to manage trading assets—securities that they buy and then resell for a profit—to help them continue to grow their company and their client roster.

Insights: The company needed to update their processes to reduce finance charges incurred with their current system.

  • Payments received for goods sold were typically not applied to the line of credit until the due date.
  • Finance charges for the line of credit were based on the balance at the end of each day of the previous billing cycle.
  • Keeping a balance higher for longer caused the client to incur extra interest charges.

Solution: Truist set up a line of credit on a sweep.

  • Payments sent to their checking account sweep automatically to their line of credit.
  • Paying the same day deposits were received saves an extra step—and thousands of dollars in interest per month.

Optimizing purchasing power to reduce cash flow strain

Challenge: A client was dealing with a strained cash flow because they were constantly cutting checks to vendors to receive upfront purchase discounts. This required them to access their working capital line of credit when payments from customers were delayed. The company wanted to ensure they continued to receive purchase discounts while having enough working capital to avoid borrowing against their line of credit.

Insights: The client was used to cutting checks and hesitant to implement a new process.

  • The Truist treasury team worked hands-on with the company’s accounts payable group.
  • They explained the benefits of the change, got all team members on board, and ensured a smooth implementation.

Solution: After reviewing cash flow, Truist recommended a purchasing card (P-card) program.

  • The client can charge the card for purchases—ensuring they continue to receive upfront discounts.
  • The card payment isn’t due until 15 days after month end, and no interest is charged until then—providing 45 days of float.
  • The client receives cash-back rebates on purchases.

Are your financial processes working hard enough?

Talk to your Truist relationship manager about ways to streamline your payables and receivables to optimize your cash conversion cycle.

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