You can obtain liquidity faster by allowing your customers to pay invoices in advance. This way you can pay your suppliers or make investments. Moreover, this strengthens the relationship with your suppliers. Not all of your customers will be able to pay in advance and may ask for an extension. In this case, it is wise to invoice the invoice amount in parts and to check the creditworthiness of your customer. In this way you can draw up appropriate payment conditions together.

It is important to act consistently and adequately when it comes to your debtor management. The best way to do this is by drawing up and complying with fixed procedures, such as a fixed time when you send reminders.

A well-designed invoicing process ensures that your liquidity position improves. In this way you prevent that you have already paid suppliers and products have been delivered, but are still waiting for debtors. In addition, make sure that you send invoices as soon as possible after an order has been placed.

Stocks cost money and are therefore seen as waste from a Lean perspective. Therefore, coordinate sales and purchases well, so that you keep the right stock for sale. Calculate the orbital velocity (= the number of products sold/(products in stock + products sold) and stock in weeks (= total inventory/average weekly sales) to determine your inventory strategy. In this way you are not stuck with large stocks and no sales to your customers.

Make sure that the liquidity forecast becomes a recurring agenda item at management meetings. In this way you can make timely adjustments or initiate improvement actions. It is very useful to have an up-to-date and clear dashboard with the most important figures at all times. So determine in advance which KPIs you want to send and make use of storytelling in your dashboard.