We are fortunate enough to be the financial platform for hundreds of brands and almost always the best performing companies have the best performing finance operations. This is true for most well run companies, but most brands have large daily cash inflows and outflows, high working capital needs and low margins. Even with large seasonal sales variation, lean finance teams and high growth there are some key things that every brand finance leader can focus on to better measure and prioritize for success. We're excited to share our latest deep dive into the five key areas brand finance leaders should prioritize for success. Here are a few takeaways: ✅ Accurate cash reporting and forecasting: Most successful brands once they hit eight figures have a weekly cash reporting and forecasting process - essential to maximize yield and plan for AP. Forecasting is hard but don’t let the perfect be the enemy of the good. ✅ Automation: Anything that requires hours every day or week to manage can be made more efficient - find the right finance stack across banking and accounting to help make this happen. ✅ Strategic Financing: Figure out how to match your capital demand with the supply in the market. This requires understanding your options, planning and building the right capital stack. For example your partner for short term working capital is probably not the right match for long term capital to open a store. ✅ Strong Banking Relationships: Find a partner that understands your business and is connected to the ecosystem of lenders, finance professionals and can scale with your growth. Knowing you have someone you can pick up the phone and call can be invaluable. Highbeam is committed to supporting brands with the tools and insights needed to boost cash flow and drive profitability. Feel free to DM me directly or email the team at connect@highbeam.co Link to the deep dive in the comments 👇
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https://www.highbeam.co/blog/financial-mastery-for-ecommerce-five-key-areas-for-brand-success