Directions for increasing the efficiency of the company's cash flow management

Abstract

The problem of managing the enterprise's cash flows is relevant, since the successful management of these resources is the key to the financial security and stability of any business entity. The purpose of the study was to identify universal recommendations for improving the enterprise's cash flow management by generalizing the theoretical aspects of cash flow management and analysing the cash flows of PJSC “Odesa Cognac Factory”. The following methods were used in the study: systematization and generalization (theoretical aspects were studied and existing views of scientists on the essence and management of cash flows were summarized), factor analysis (key financial factors influencing the process of enterprise cash flow management were identified), coefficient analysis (analysis of the efficiency of enterprise cash flow management was carried out). Using the example of the operating enterprise PJSC “Odesa Cognac Factory”, the dynamics of changes in the key components of cash flow management is analysed and the existing gaps in their management are identified. The carried out analysis allowed identifying possible directions for improving the efficiency of cash flow management of the enterprise and to provide certain recommendations, as a result of implementation of which the enterprise will have a positive impact on its further activities, namely: focusing on optimization of available cash flows and their balancing; studying the regularity of their movement in the enterprise by calculating the liquidity and solvency indicators; considering the possibility of introducing the use of budgeting and financial management in the enterprise as additional tools for managing cash flows; creation of an independent department for controlling the movement of available cash flows; use of reliable and timely accounting information on cash flows when making certain management decisions due to the increased use of modern information technologies. The practical value of the study is the universal nature of the recommendations provided for the implementation of measures to improve the efficiency of cash flow management, since these recommendations can also be used by other similar enterprises