A comprehensive cash management plan is vital to any business.
For independent insurance agencies and brokerage firms, cash management is unique — calling for a focused, strong cash management system provided by the agency’s banking institution.
Most agencies would equate effective cash management with tasks performed by a chief financial officer such as: analyzing the agency’s current situation, defining a cyclical pattern of cash flow and forecasting future cash flows. But agencies should expect their bank’s experience, products and services to contribute to the overall plan.
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