{"id":17854,"date":"2019-05-31T14:06:14","date_gmt":"2019-05-31T14:06:14","guid":{"rendered":"https:\/\/www.process.st\/templates\/cash-management-process\/"},"modified":"2024-02-28T23:01:02","modified_gmt":"2024-02-28T23:01:02","slug":"cash-management-process","status":"publish","type":"post","link":"https:\/\/www.process.st\/templates\/cash-management-process\/","title":{"rendered":"Cash Management Process"},"content":{"rendered":"<section id=\"introduction\">\n<h2>Introduction:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/s_kOQxpeFPOYVt9LO2JF0Q.png\" alt=\"Process Street - Cash Management Process\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/s_kOQxpeFPOYVt9LO2JF0Q.png\"> <\/a><figcaption>\n     Process Street - Cash Management Process<br \/>\n   <\/figcaption><\/figure>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-blockquote\" style=\"text-align: center;\">\u201cNever take your eyes off the cash flow because it\u2019s the lifeblood of business.\u201d -&nbsp;<em>Sir Richard Branson<\/em><\/p>\n<\/p><\/div>\n<div class=\"text-content\">\n<p><a href=\"https:\/\/www.process.st\/?source=adwords-search-1&amp;gclid=EAIaIQobChMIn8eK29CO4gIVQcAYCh0oXARAEAAYAiAAEgKPKfD_BwE\" rel=\"nofollow\"><strong>Process Steet<\/strong><\/a><strong>\u2019s Cash Management Process is a guide to aid the management of your business's cash flow.<\/strong> As a small business owner, you can use this template on a quarterly basis, to continually assess how you can improve your business's cash flow to ensure business success.<\/p>\n<p>Process street has condensed the cash management process into the following steps:<\/p>\n<ul>\n<li>Credit control procedures&nbsp;<\/li>\n<li>Regular sale forecasts&nbsp;<\/li>\n<li>Good supplier terms<\/li>\n<li>Stock control measures&nbsp;<\/li>\n<li>Control spending<\/li>\n<li>Reduce unnecessary costs&nbsp;<\/li>\n<li>Produce and read financial reports&nbsp;<\/li>\n<li>Goal review&nbsp;<\/li>\n<\/ul>\n<p>Cash management as a procedure lays its roots from two seemingly unrelated methods of finance; <a href=\"https:\/\/libertyfundingsolutions.com\/the-history-of-cash-flow\/\" rel=\"nofollow\">owner financing and factoring<\/a>.<\/p>\n<p>Owner financing as a process involves the acceptance of a signed document stating the sum of the delivered product or service.<\/p>\n<p>Factoring is the sending of an invoice to collect money at its due date.<\/p>\n<p>Take both owner financing, and factoring, and provide time for the evolution and change of natural business cycles, and you have the emergent of cash management as a financial procedure.<\/p>\n<p>As an area of finance, <strong>cash management is very broad<\/strong>, covering<a href=\"https:\/\/www.referenceforbusiness.com\/encyclopedia\/Ca-Clo\/Cash-Management.html#b\" rel=\"nofollow\"> cash collection, handling, and usage<\/a>. <a href=\"https:\/\/www.process.st\/?source=adwords-search-1&amp;gclid=EAIaIQobChMIn8eK29CO4gIVQcAYCh0oXARAEAAYAiAAEgKPKfD_BwE\" rel=\"nofollow\">Process Steet<\/a>\u2019s Cash Management Process considers cash management in the sense of ensuring that your business has enough cash.<\/p>\n<p><strong>The aim of&nbsp;<\/strong><a href=\"https:\/\/www.process.st\/?source=adwords-search-1&amp;gclid=EAIaIQobChMIn8eK29CO4gIVQcAYCh0oXARAEAAYAiAAEgKPKfD_BwE\" rel=\"nofollow\"><strong>Process Steet<\/strong><\/a><strong>\u2019s Cash Management Process is to ensure cash flow running into your business is greater than the cash flowing out from your business.<\/strong><\/p>\n<p><a href=\"https:\/\/www.preferredcfo.com\/cash-flow-reason-small-businesses-fail\/\" rel=\"nofollow\">82%<\/a> of small businesses fail due to poor cash flow. It is clear that successful cash flow management is essential for your business success. Cash flow management has even been termed as the <a href=\"https:\/\/www.inc.com\/guides\/finance\/cashmanagement.html\" rel=\"nofollow\">most important job<\/a> when it comes to running a business.<\/p>\n<p><span>In this template, you will be presented with specialized questions given as a form field. Different form fields are used, such as subtasks, dropdown menus, short answers, long answers, and weblinks.<\/span><\/p>\n<p><span>You can populate each form field with your own specific data. This data is compiled for you to easily set your own targets. Using our <a href=\"https:\/\/www.process.st\/help\/docs\/dynamic-due-dates\/\" rel=\"nofollow noopener\" target=\"_blank\">dynamic due date<\/a>&nbsp;feature, the targets can be reviewed.&nbsp;<\/span><\/p>\n<p><span>In addition, our&nbsp;<\/span><a href=\"https:\/\/www.process.st\/help\/docs\/stop-tasks\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>stop task<\/span><\/a><span>&nbsp;feature has been used to enforce task order when needed, and our&nbsp;<\/span><a href=\"https:\/\/www.process.st\/help\/docs\/conditional-logic\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>conditional logic<\/span><\/a><span>&nbsp;task has been used to guide you through the correct process path specific for your entered data.<\/span><\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"record-checklist-details\">\n<h2>Record checklist details<\/h2>\n<div class=\"text-content\">\n<p><span>In this Cash Management Process, you will be presented with the following form fields, which you are required to <strong>populate with your own specific data<\/strong>. More information is provided for each form field via linkage to our help pages:<\/span><\/p>\n<ul>\n<li><a href=\"https:\/\/www.process.st\/help\/docs\/how-subtask-work\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>Subtasks&nbsp;<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/help\/docs\/form-fields\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>Dropdown<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/help\/docs\/form-fields\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>Short Text<\/span><\/a>&nbsp;<\/li>\n<li><a href=\"https:\/\/www.process.st\/help\/docs\/form-fields\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>Date<\/span><\/a><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/help\/docs\/using-email-widget\/\" rel=\"nofollow noopener\" target=\"_blank\">Email widget&nbsp;<\/a><\/span><\/li>\n<li><a href=\"https:\/\/www.process.st\/help\/docs\/form-fields\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>Entering email address&nbsp;<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/help\/docs\/form-fields\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>Website&nbsp;<\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/help\/docs\/file-widget\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>File upload<\/span><\/a><\/li>\n<\/ul>\n<p><span>To begin the Cash Management Process, <strong>enter the required details into the form fields below<\/strong>.<\/span><\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Your full name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Your business name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Address line 1 (street address) <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Address line 2 (apartment, suite, unit) <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> City <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> ZIP code <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Country <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"date-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Cash management process start date <\/label> <\/p>\n<div class=\"date-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Do your business provide a service or product? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"credit-control-procedures\">\n<h2>Credit control procedures:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/h6zdjMMxYw0KZ4_hJJdH8g.jpg\" alt=\"Credit control procedures:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/h6zdjMMxYw0KZ4_hJJdH8g.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"send-the-invoice\">\n<h2>Send the invoice<\/h2>\n<div class=\"text-content\">\n<p>The first step of <a href=\"https:\/\/www.process.st\/\" rel=\"nofollow noopener\" target=\"_blank\">Process Street<\/a>'s Cash Management Process is to ensure you <strong>have the appropriate credit control procedure in place<\/strong>.<\/p>\n<p><strong>Consult your current credit control procedure<\/strong> and ensure the following steps are being carried out.<\/p>\n<p><strong>Check off each step<\/strong> if you can confirm your credit control procedure includes such as step.<\/p>\n<p>You can <strong>state whether each step within our recommended credit control process is met<\/strong> by your own credit control procedure using the drop-down menu provided.&nbsp;<\/p>\n<p>You can then <strong>add notes<\/strong> for each step, indicating successes and areas for improvement.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Send invoice immediately after goods or services have been provided\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Ensure payment terms are included on invoices sent\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Invoice notes attainment <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Invoice notes <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"checkin-with-the-customer\">\n<h2>Check-in with the customer<\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Give customers a courtesy call after X number of days. For example, if you have 30-day payment terms, after about 14 days, give the customer a courtesy call.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      If the customer has received the invoice, ask the customer what day they will make payment.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Check-in attainment <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Check-in notes <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-info\">Carrying out custody calls eliminates the possibility of a customer telling you they never received an invoice after the due date.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"chaseup-with-the-customer\">\n<h2>Chase-up with the customer<\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      If the payment becomes overdue, then give the customers another custody call as a reminder.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Decipher if the customer is having issues with making payment.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Follow up on calls made with an email\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Chase-up attainment <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Chase-up notes <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"provide-the-first-warning\">\n<h2>Provide the first warning<\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      If the invoice is not yet paid a week later, send a warning letter to the customer indicating they have X number of days to pay you.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      If you offer a service, put the services on offer on hold or on stop until payment is made.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> First warning attainment <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> First warning notes <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"consult-a-third-party-debt-collection-agency\">\n<h2>Consult a third party debt collection agency<\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Pass the debt to a professional debt collection agency.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Debt collection attainment <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Debt collection notes <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-info\">If you have spent a lot of time chasing payment, then the most cost and time effective way would then to outsource the payment chasing.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"review-your-credit-control-procedure\">\n<h2>Review your credit control procedure<\/h2>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Credit control procedure attainment <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"review-why-your-credit-control-procedure-failed\">\n<h2>Review why your credit control procedure failed<\/h2>\n<div class=\"text-content\">\n<p>Based on the previously outlined criteria for the creation of a good credit control procedure, you can set your own personal targets to <strong>achieve the best credit control procedure for your business.<\/strong><\/p>\n<p>The <strong>dropdown menu<\/strong> represents a<strong> conditional step<\/strong> in this process. By selecting 'Yes' or 'No', you will be directed to the relevant steps in the Cash Management Process.<\/p>\n<p>This task<strong> uses our dynamic due date feature<\/strong>. Once a date has been set to review the targets, you will be reminded a day before this date in regards to the upcoming due task.<\/p>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>The <strong>notes you made<\/strong> in regards to each step of the credit control process have been<strong> summarized in the below<\/strong>.<\/p>\n<p><strong>Areas for improvement should have been highlighted<\/strong>, and&nbsp;these have been mentioned below as a reminder.&nbsp;<\/p>\n<h5>Send the invoice&nbsp;<\/h5>\n<p>{{form.Invoice_notes}}<\/p>\n<h5>Check-in with the customer<\/h5>\n<p>{{form.Check-in_notes}}<\/p>\n<h5>Chase-up with the customer<\/h5>\n<p>{{form.Chase-up_notes}}<\/p>\n<h5>Provide the first warning<\/h5>\n<p>{{form.First_warning_notes}}<\/p>\n<h5>Consult third party debt collection<\/h5>\n<p>{{form.Debt_collection_notes}}<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Based on the above, summarize again areas for improvement in your credit control procedure. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set targets based on the summarized areas for improvement, to improve your credit control procedure. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Would you like to email the set credit control targets set to relevant personnel? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"date-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set date for credit control target review. <\/label> <\/p>\n<div class=\"date-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"email-targets-set-credit-control-procedure\">\n<h2>Email targets set: credit control procedure<\/h2>\n<div class=\"text-content\">\n<p>You can email the set targets to relevant personnel <strong>using our email widget below<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (1) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (2) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (3) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"regular-sales-forecasts\">\n<h2>Regular sales forecasts:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/t4v8XixMuDOgVMss9F1ARg.jpg\" alt=\"Regular sales forecasts:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/t4v8XixMuDOgVMss9F1ARg.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"adjust-your-sale-forecasts\">\n<h2>Adjust your sale forecasts<\/h2>\n<div class=\"text-content\">\n<p>See <a href=\"https:\/\/www.process.st\/\" rel=\"nofollow noopener\" target=\"_blank\">Process Street<\/a>'s <a href=\"https:\/\/www.process.st\/templates\/financial-planning-process\/\" rel=\"nofollow noopener\" target=\"_blank\">Financial Planning Process<\/a> (link) and <a href=\"https:\/\/www.process.st\/templates\/financial-plan-template\/\" rel=\"nofollow noopener\" target=\"_blank\">Financial Plan Template<\/a> for information on how to calculate the most essential financial forecasts.<\/p>\n<p>The<strong> number of times you conduct financial forecasts<\/strong> is <strong>dependent on the length of your sale cycle and the size of your business.<\/strong><\/p>\n<p><strong> Small businesses<\/strong> will be required to <strong>conduct\/evaluate financial forecasts more frequently<\/strong>. Small businesses are most likely to evaluate forecasts on a quarterly basis.<\/p>\n<p>In addition, if your <strong>product\/service cycle is a long cycle<\/strong>, the <strong>evaluation of your financial forecasts will not be needed as frequently<\/strong> as if your product\/service provided has a short cycle.<\/p>\n<p>Financial forecasts can be conducted annually, quarterly, monthly or biweekly.<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Select how often you deem appropriate to evaluate your financial forecasts <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>Refer to your financial forecasts, and ensure that you have the following information:<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      An estimate for future net revenue.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      An estimate for future cash flow.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      An estimate for future profit.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<p class=\"style-info\">Please note companies that have not been operational for too long have sale goals rather than sale forecasts. Sale forecasts are determined based on an organization's previous sales, whereas sale goals can be set with little past data available to set a forecast.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"consult-your-financial-forecasts\">\n<h2>Consult your financial forecasts<\/h2>\n<div class=\"text-content\">\n<p>You can <strong>use your financial forecasts<\/strong>&nbsp;to help you <strong>understand the cash<\/strong>&nbsp;you are likely to have, and when, during the running of your business over a set time.<\/p>\n<p>Financial forecasts should be as <strong>realistic as possible<\/strong> and should closely match reality.<\/p>\n<p>You can use our <strong>file upload<\/strong> widget to upload relevant documentation detailing the financial forecasts made.<\/p>\n<p>Alternatively, you can use your <strong>web link form field<\/strong> to provide the URL of online documentation, such as Google excel.<\/p>\n<p>The <strong>dropdown menu<\/strong> represents a<strong> conditional step<\/strong> in this process. By selecting 'Yes' or 'No', you will be directed to the relevant steps in the Cash Management Process.<\/p>\n<p>This task<strong> uses our dynamic due date feature<\/strong>. Once a date has been set to review the targets, you will be reminded a day before this date in regards to the upcoming due task..<\/p>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> File upload of detailed financial forecasts <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Identify successes based on financial forecasts. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Identify areas for improvement based on financial forecasts, <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set targets based on identified areas of improvement for the financial forecasts. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Would you like to email targets set to improve your financial forecasts? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"date-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set date for sale target review. <\/label> <\/p>\n<div class=\"date-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"email-targets-set-financial-forecasts\">\n<h2>Email targets set: financial forecasts<\/h2>\n<div class=\"text-content\">\n<p>You can email the set targets to relevant personnel <strong>using our email widget below<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (4) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (5) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (6) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"good-supplier-terms\">\n<h2>Good supplier terms:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/ljdEeVU6YTJX-Z5PvqhCig.jpg\" alt=\"Good supplier terms:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/ljdEeVU6YTJX-Z5PvqhCig.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"review-your-supplier-relationship-management-procedure\">\n<h2>Review your supplier relationship management procedure<\/h2>\n<div class=\"text-content\">\n<p class=\"style-blockquote\" style=\"text-align: center;\">'<span>Having long-lasting, trusted relationships with dedicated suppliers should be a primary goal of any business that strives to succeed in the market'<\/span><\/p>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>To <strong>obtain good supplier terms<\/strong>, it is<strong> vital to set up good supplier relationships<\/strong>. Good supplier relationships can be obtained by implementing a <strong>successful Supplier Relationship Management plan<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Build mutual trust and loyalty with suppliers<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Inform suppliers about your processes such as new products or promotions.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Listen to supplier concerns.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Use technology to manage supplier relationships<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Record and keep track of information about suppliers\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Create. process and track purchase order with your suppliers\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Ensure timely payments&nbsp;<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Ensure control measures are in place to deliver timely payments to suppliers.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Ensure a system is in place to inform suppliers when payment may not be made on time.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Work to form a good relationship&nbsp;<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Regular effective communication is maintained, keeping suppliers regularly informed and up to date.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Indicate issues you have in good time to work with the supplier to resolve.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Obtain a quality service and materials at the right price&nbsp;<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      If you have the financial flexibility to buy in bulk, buy in bulk.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Pay suppliers in advance if advance payment generates a discount.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Obtain the correct balance between quality and price for your business. Consult your business's target audience and required business reputation.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Ensure service is reliable and efficient.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Detail agreements&nbsp;<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Record expectations from both parties in regards to the service you require and the service your supplier provides. For example, item or service description, price, delivery terms, payment terms, communications, etc.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Have both parties sign read agreements.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Produce a workflow for your team indicating the processes involving suppliers. This ensures the team understands the processes and can identify when things go wrong.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Evaluate the risks&nbsp;<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Determine how the supplier deals with crises.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Determine how long the supplier has been in business.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      When was the last time the supplier had to deal with a crisis?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consult supplier reviews and references.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Does supplier have the capacity to deal with your orders?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       6\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Are the suppliers financially stable?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       7\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Are the supplier competitively priced?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       8\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Do the suppliers have the right experience?\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Dedicate a supplier relationship management team<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Assign a manager to supplier relationship management\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Create a documented process to guide the required team through the management and administration of suppliers.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Think global<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider the benefits of using a global supplier.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      If using suppliers located in another country, consider cultural differences when communicating with those suppliers.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider currency, VAT rate, and other financial differences when dealing with global suppliers.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Get everybody onboard<\/h4>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Get everyone on board to work to create excellent supplier relationships.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"set-supplier-relationship-management-targets\">\n<h2>Set Supplier Relationship Management Targets<\/h2>\n<div class=\"text-content\">\n<p>Based on the previously outlined criteria for the creation of a good Supplier Relationship Management strategy, you can set your own personal targets to <strong>achieve the best supplier relationships<\/strong>.&nbsp;<\/p>\n<p>The <strong>dropdown menu<\/strong> represents a<strong> conditional step<\/strong> in this process. By selecting 'Yes' or 'No', you will be directed to the relevant steps in the Cash Management Process.<\/p>\n<p>This task<strong> uses our dynamic due date feature<\/strong>. Once a date has been set to review the targets, you will be reminded a day before this date in regards to the upcoming due task.<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize areas for improving your supplier relationships. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set targets to achieve supplier relationship improvements. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"date-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set a date to review these supplier relationship targets. <\/label> <\/p>\n<div class=\"date-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Would you like to email targets for supplier terms improvement to the relevant personnel? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"email-targets-good-supplier-terms\">\n<h2>Email targets: Good supplier terms<\/h2>\n<div class=\"text-content\">\n<p>You can email the set targets to relevant personnel <strong>using our email widget below<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (7) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (8) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (9) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"stock-control-measures\">\n<h2>Stock control measures:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/nmOabHyKtJvRfwLKzTBO_Q.jpg\" alt=\"Stock control measures:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/nmOabHyKtJvRfwLKzTBO_Q.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"review-current-stock-levels\">\n<h2>Review current stock levels<\/h2>\n<div class=\"text-content\">\n<p>If your business provides a product for sale, it is <strong>important to ensure you have the right level of stock<\/strong> to satisfy the customer.&nbsp;<\/p>\n<p>Running stocks<strong> too low will lose business<\/strong>, but <strong>running stocks to high will cost you money<\/strong>. The estimated cost of holding stock is 10-30% of the stock's value.&nbsp;<\/p>\n<p>Costs are incurred through stock storage, insurance, keeping accurate records and controlling stock for theft avoidance.&nbsp;<\/p>\n<p>A <strong>right balance is needed<\/strong> for the amount of stock you own.<\/p>\n<p>&nbsp;You<strong> firstly need to review your current stock levels and stock sale volumes<\/strong>.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Determine your current stock levels\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Determine the current value of your stock\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Look at your sale records, identify good selling stock items and stock items that do not sell so well (remember to consider seasonal trends).\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider the gross margin for each product, and determine which items are most profitable.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Make a list of slow-moving stock items <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Make a list of stock items in excess <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p><strong>Create an action plan<\/strong> to move both slow moving stock items and items in excess.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Upload this action plan below. <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Based on this action plan, summarize areas for improvement in terms of your stock levels. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-info\">For example, you can <strong>sell the stock items at a discounted price<\/strong> below the items price. The money obtained from doing this can then be used to buy new stock.&nbsp;<\/p>\n<p class=\"style-info\">Slow-moving stock items could be donated to charity. <a href=\"https:\/\/www.inc.com\/molly-reynolds\/4-ways-that-supporting-charity-is-good-for-business.html\" rel=\"nofollow noopener\" target=\"_blank\">Supporting a charity can support a business<\/a>&nbsp;by increasing employee morale, provide marketable benefits, providing tax benefits and by helping the community.&nbsp;<\/p>\n<p class=\"style-info\">See <a href=\"https:\/\/www.process.st\/\" rel=\"nofollow noopener\" target=\"_blank\">Process Street's<\/a>&nbsp;<a href=\"https:\/\/www.process.st\/templates\/financial-plan-template\/\" rel=\"nofollow noopener\" target=\"_blank\">Financial Plan Template<\/a> to determine how to calculate gross margin.<\/p>\n<p class=\"style-danger\">We recommend you have a procedure in place to keep track of individual stock items. Accounting or stock control software can do this.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"update-your-current-stock-records\">\n<h2>Update your current stock records<\/h2>\n<div class=\"text-content\">\n<p>Your<strong>&nbsp;Financial Policies<\/strong> and your<strong> Procedures Manual<\/strong> should include a policy to track the stock movement. This will help you <strong>record the stock and its movement<\/strong> to aid the stock re-ordering process.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Update your stock records.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Update your Financial Policies to include a policy tracking stock movement.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Update your Procedure Manual to include a policy tracking stock movement.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"establish-a-stock-control-policy\">\n<h2>Establish a stock control policy<\/h2>\n<div class=\"text-content\">\n<p>The <strong>next action to take<\/strong> to control your stock is to<strong> implement a stock control policy<\/strong>.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Identify the stock you always need and make sure you have sufficient supply.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Tighten the process of buying stock. Make sure you know the volume of sales for each stock item to determine the stock quantity needed.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Keep accurate stock records, and match these records to regular physical counts.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Negotiate deals with suppliers. You should have an effective Supplier Relationship Management procedure set up to aid negotiations.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Do not let discount prices drive your decisions when buying stock.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       6\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider the impact of ordering less stock more frequently under a regular delivery schedule. This can save money, improve liquidity and reduce the stock quantities at a given time, without reducing sales.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       7\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider the impact of marketing and promotion. If launching a promotion, make sure you have enough stock.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       8\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      If you have taken on more stock than usual, be sure to have a backup plan if you do not sell it.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Based on the above, summarize areas in need of improvement in regards to your stock control policy. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-danger\">With a large difference between the stock records and the physical count, continue the physical count more often until the cause of difference has been established.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"review-your-sale-policies\">\n<h2>Review your sale policies<\/h2>\n<div class=\"text-content\">\n<p>When <strong>reviewing your current sale policies<\/strong>, the final dropdown form field provided is a <strong>conditional step<\/strong> in this process. Selecting 'Yes' or 'No' will direct you to the relevant stage in the Financial Plan Template.&nbsp;<\/p>\n<p><strong>Review<\/strong> your current sale policies. Ensure they are as required.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Are your sale policies directed towards a higher turnover of goods? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Are you selling policies directed to buying goods at a bargain price? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Are your sale policies directed to clearing slow-moving item? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Are your current sale policies as required? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"rereview-your-sale-policies\">\n<h2>Re-review your sale policies<\/h2>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Draw up an action plan to ensure your sale policy is as required, and upload. <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize the reasons as to why your sale policies are not as required. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"use-stock-turn-rate-to-help-you-plan\">\n<h2>Use stock turn rate to help you plan<\/h2>\n<div class=\"text-content\">\n<p>The '<strong>Stock Turn Rate<\/strong>' is a calculation you can use to <strong>check if your stock planning is effective<\/strong>.&nbsp;<\/p>\n<p>A <strong>low stock turn rate<\/strong> means the movement of your stock is slow, which leads to <strong>higher holding costs and old stock<\/strong>.<\/p>\n<p>A <strong>high stock turn rate<\/strong> could mean you<strong> do not have enough stock<\/strong> on hand to supply the customer needs.<\/p>\n<p>Follow the steps below to calculate the stock turn rate:<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Determine your cost of goods sold\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Determine the cost of stock on hand\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Divide the cost of goods sold by the cost of stock on hand\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<h3 style=\"text-align: center;\">Stock Turn Rate = Cost Of Goods Sold \/ Cost Of Stock On Hand&nbsp;<\/h3>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-info\">The <a href=\"https:\/\/www.investopedia.com\/terms\/c\/cogs.asp\" rel=\"nofollow noopener\" target=\"_blank\">Cost Of Goods Sold (COGS)<\/a> refers to the costs directly attributable to the production of goods sold in a company.&nbsp;<\/p>\n<p class=\"style-info\">The <a href=\"https:\/\/dictionary.cambridge.org\/dictionary\/english\/stock-on-hand\" rel=\"nofollow noopener\" target=\"_blank\">Stock On Hand<\/a>&nbsp;is the number of goods, for example, finished products, a company has available at a given time.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"interpret-your-stock-turn-rate\">\n<h2>Interpret your stock turn rate<\/h2>\n<div class=\"text-content\">\n<p>Manufacturing stock turn rate usually varies from 4 to 21 times. You can <strong>review your stock turn rates<\/strong> for each product to <strong>determine whether you want to order more stock of the product in, or order less<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Products with the highest stock turn rates are your best sellers, consider ordering more stock in.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Product with low stock turn rates are your slowest sellers, so consider ordering less.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Based on your stock turn rates, summarize areas for improvement to reduce or increase specific stock levels. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"set-a-date-to-review-stock-control-targets-set\">\n<h2>Set a date to review stock control targets set<\/h2>\n<div class=\"text-content\">\n<p>Based on the previously outlined criteria for the creation of good stock control measures, you can set your own personal targets to <strong>achieve the best stock control measures for your business.<\/strong><\/p>\n<p>The <strong>dropdown menu<\/strong> represents a<strong> conditional step<\/strong> in this process. By selecting 'Yes' or 'No', you will be directed to the relevant steps in the Cash Management Process.<\/p>\n<p>This task<strong> uses our dynamic due date feature<\/strong>. Once a date has been set to review the targets, you will be reminded a day before this date in regards to the upcoming due task..<\/p>\n<\/p><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Stock Control Targets<\/h4>\n<p>You <strong>set the following targets<\/strong> to improve your stock control measured:<\/p>\n<h5>To reduce current stock levels:<\/h5>\n<p>{{form.Based_on_this_action_plan,_summarize_areas_for_improvement_in_terms_of_your_stock_levels.}}<\/p>\n<h5>To improve your stock control policy:<\/h5>\n<p>{{form.Based_on_the_above,_summarize_areas_in_need_of_improvement_in_regards_to_your_stock_control_policy.}}<\/p>\n<h5>To improve your sale policies:<\/h5>\n<p>{{form.Summarize_the_reasons_as_to_why_your_sale_policies_are_not_as_required.}}<\/p>\n<h5>To improve your stock turn rate:<\/h5>\n<p>{{form.Based_on_your_stock_turn_rates,_summarize_areas_for_improvement_to_reduce_or_increase_specific_stock_levels.}}<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize, based on the above, areas for improvement in your stock control measures. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set targets to achieve these required improvements to your stock control measures. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"date-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set a date to review your stock control targets. <\/label> <\/p>\n<div class=\"date-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Would you like to email these targets for stock control improvement to relevant personnel? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"email-targets-stock-control-measures\">\n<h2>Email targets: stock control measures<\/h2>\n<div class=\"text-content\">\n<p>You can email the set targets to relevant personnel <strong>using our email widget below<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (10) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (11) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (12) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"control-spending\">\n<h2>Control spending:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/mTUd7BlowMfhPP6HaHtCbw.jpg\" alt=\"Control spending:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/mTUd7BlowMfhPP6HaHtCbw.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"consult-your-budget-plan\">\n<h2>Consult your budget plan<\/h2>\n<div class=\"text-content\">\n<p>Controlling your business expenditure must begin with ensuring you have a <strong>well-developed budget<\/strong> developed and managed.<\/p>\n<p>See <a href=\"https:\/\/app.process.st\/dashboard\/folder\/home\" rel=\"nofollow noopener\" target=\"_blank\">Process Street<\/a>'s <a href=\"https:\/\/www.process.st\/templates\/budget-process\/\" rel=\"nofollow noopener\" target=\"_blank\">Budget Process&nbsp;<\/a><\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Ensure you have a well-developed budget plan defined to control your business spending.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Ensure that you have a management plan in place that assures your spending maintains alignment to your set budget.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"reduce-unnecessary-costs\">\n<h2>Reduce unnecessary costs:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/nDSgHXTVXH1R50GVPYlPqQ.jpg\" alt=\"Reduce unnecessary costs:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/nDSgHXTVXH1R50GVPYlPqQ.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"reduce-supply-expenses\">\n<h2>Reduce supply expenses<\/h2>\n<div class=\"text-content\">\n<p><strong>Even the smallest reduction in business expenses can have profound benefits to your companies success<\/strong>.<\/p>\n<p>It is important to take a step back and look at your current business expenses to<strong> assess what you are doing well<\/strong> and <strong>what can be improved upon<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider large discount suppliers as alternatives. But do not compromise the quality of service\/products too much.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consult your stock turn rate to refine your stock expenses, (required for businesses selling a product).\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider supplies not vital for the functioning of your business, for example, office supplies. Can these be reduced?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Are there service costs to be reduced, for example, office canteen hours?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Cuts environmental costs.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Upload an action plan to reduce supply expenses <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Based on this action plan, summarize how you can reduce supply expenses. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-info\">See <a href=\"https:\/\/www.process.st\/\" rel=\"nofollow noopener\" target=\"_blank\">Process Street<\/a>'s <a href=\"https:\/\/www.process.st\/templates\/environmental-accounting-internal-audit\/\" rel=\"nofollow noopener\" target=\"_blank\">Environmental Accounting Internal Audit<\/a> to reduce your environmental costs.<\/p>\n<p class=\"style-danger\">There is a fine line between reaping positive effects of cost-cutting employee benefits and experiencing diminishing returns if benefits are cut too much employee morale is reduced. You need to ensure <a href=\"https:\/\/work.chron.com\/benefits-good-employee-morale-work-23577.html\" rel=\"nofollow noopener\" target=\"_blank\">employee morale is kept at a sufficient level<\/a> so employees are productive, want to work for you, are motivated, and have high self-esteem and satisfaction.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"cut-production-costs\">\n<h2>Cut production costs<\/h2>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Cut material costs.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Sell leftover materials or products.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Use waste created where possible.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Centralize or consolidate space necessary for the production of your product or the delivery of your service.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Lease unused space.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       6\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Track and measure the operational efficiency of your business or service. For example, is time being wasted in the service you provide?\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       7\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Optimize the efficiency of your business.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize your efficiency goals. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"lower-financial-expenditures\">\n<h2>Lower financial expenditures<\/h2>\n<div class=\"text-content\">\n<p><strong>Consult your insurance policies and financial accounts<\/strong> for places to save money.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Compare providers of insurance to see where you can save money. Select the most competitive rates.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consolidate bank accounts and insurance policies if possible.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Evaluate your insurance policies, make sure you are not duplicating coverage or you are over-insured.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<p>If you are <strong>looking into business expansion<\/strong>, make sure to <strong>carry out the necessary procedures<\/strong> outlined below.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Complete a thorough cost-benefit analysis.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Produce a thorough future forecast.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider the opportunity costs of expansion and the negative impacts of increased debt payments on your cash flow.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize how you could lower your financial expenditures. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-danger\">Excess debts can impact companies ratings, interest rates and the ability to borrow in the future.<\/p>\n<p class=\"style-info\">See <a href=\"https:\/\/www.process.st\/\" rel=\"nofollow noopener\" target=\"_blank\">Process Street<\/a>'s <a href=\"https:\/\/www.process.st\/templates\/financial-planning-process\/\" rel=\"nofollow noopener\" target=\"_blank\">Financial Planning Procedure template<\/a>&nbsp;to understand how to create a thorough future forecast.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"modernize-your-marketing-efforts\">\n<h2>Modernize your marketing efforts<\/h2>\n<div class=\"text-content\">\n<p><strong>Review your marketing methods<\/strong> to refine.<\/p>\n<p>Maintain and invest in advertising methods that are working, but also consider cheaper alternatives and do not sacrifice impact.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Build a customer e-mail list and implement a referral program.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Establish a networking plan, to network more. Networking is a great way to get your business name out there without an advertising expense.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Do more in-house marketing to cut marketing costs.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Increase social media marketing to reduce the reliance on more expensive traditional methods.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize how you could reduce your marketing costs. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"use-efficient-time-strategies\">\n<h2>Use efficient time strategies<\/h2>\n<div class=\"text-content\">\n<p><strong>Wasted time, equals wasted money<\/strong>. Be sure your business processes are optimized and efficient.<\/p>\n<p><strong>Adopt checklists<\/strong> such as this one have been shown to increase business efficiency. You can<strong> create checklists similar to this one for any business process using<a href=\"https:\/\/www.process.st\/\" rel=\"nofollow noopener\" target=\"_blank\"> Process Street<\/a><\/strong>.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Minimize distractions.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Utilize checklist software such as Process Street.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Set expectations for a reasonable amount of time to complete certain tasks or activities. Continually review these expectations based on employee feedback to refine.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Offer incentives for meeting or exceeding those expectations.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider providing additional employee benefits to improve employee morale and consequently employee productivity and motivation.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       6\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Create scheduled business activities, and schedules for each department and employees where relevant. Encourage employees to adhere to these schedules.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       7\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Schedule a pre-determined block of time for meetings. Make it clear it is expected participants are on time. Stick closely to the meeting's agenda.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Identify improvements needed for more efficient use of time. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"harness-virtual-technology\">\n<h2>Harness virtual technology<\/h2>\n<div class=\"text-content\">\n<p>Harnessing the use of<strong> technology<\/strong> can offer a virtual manner of doing business.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider virtual meetings to reduce travel costs.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Centralize company documents by using online software such as Google documents.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize how you could use technology to reduce business costs. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"narrow-your-focus\">\n<h2>Narrow your focus<\/h2>\n<div class=\"text-content\">\n<p><strong>Narrowing your business<\/strong>&nbsp;means limiting the types of services or products you offer. This allows you to <strong>refine a small subset<\/strong> of products and services you offer to<strong> improve your bottom line<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      For product-based businesses, consider the stock turn rate. Limit the products you provide. Provide products with higher stock turn rates.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider limiting the services you provide. Provide the services in highest demand only.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider subcontracting some business processes to maximize capacity without turning away profitable business.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize how you could narrow your business focus. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"make-the-most-of-your-space\">\n<h2>Make the most of your space<\/h2>\n<div class=\"text-content\">\n<p><strong>Consult and analyze<\/strong> your current space and how it is being used.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consolidate and centralize different functions or departments for your business where appropriate.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Use spaces for dual purpose.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Lease out unused space.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Consider your furniture and machinery placement, and how efficiently this uses the space available.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Is your storage overflowing due to too many supplies? Consider reducing supplies ordered in.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize how you could improve the use of your current space. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"maximize-employee-skills\">\n<h2>Maximize employee skills<\/h2>\n<div class=\"text-content\">\n<p class=\"style-blockquote\"><span>Employees are a company's greatest asset - they're your competitive advantage. You want to attract and retain the best; provide them with encouragement, stimulus, and make them feel that they are an integral part of the company's mission. - Anne M. Mulcahy<\/span><\/p>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>As stated by Anne M. Mulcahy, a highly successful American businesswoman, <strong>employees are your companies greatest asset.<\/strong>&nbsp;<\/p>\n<p>It is important to assess <strong>how you are utilizing the skills<\/strong> of your employees, and are you<strong> motivating your employees<\/strong> to <strong>work to the best of their ability and be productive.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Give responsibilities to employees with the most skills and efficiency in those areas.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Provide appropriate employee benefits to boost employee morale.\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Establish an employee feedback system, where you can obtain information on how to improve the running of your company and ways to boost employee morale.\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize how you could maximize your employee skills. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"focus-on-quality\">\n<h2>Focus on quality<\/h2>\n<div class=\"text-content\">\n<p>By providing a <strong>quality service<\/strong> or product, you will obtain <strong>positive referrals and repeat purchase<\/strong>.&nbsp;<\/p>\n<p>Once you have <strong>established a good reputation<\/strong> you can <strong>charge higher prices<\/strong> as customers we will be<strong> willing to pay to use you<\/strong>, as opposed to another business with a not-so-good reputation.<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Identify areas where you can improve the quality of your business. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"review-your-set-targets-to-reduce-unnecessary-costs\">\n<h2>Review your set targets to reduce unnecessary costs<\/h2>\n<div class=\"text-content\">\n<p>Based on the previously outlined criteria for reducing unnecessary costs, you can set your own personal targets to <strong>reduce unnecessary costs in your business.<\/strong><\/p>\n<p>The <strong>dropdown menu<\/strong> represents a<strong> conditional step<\/strong> in this process. By selecting 'Yes' or 'No', you will be directed to the relevant steps in the Cash Management Process.<\/p>\n<p>This task<strong> uses our dynamic due date feature<\/strong>. Once a date has been set to review the targets, you will be reminded a day before this date in regards to the upcoming due task.<\/p>\n<\/p><\/div>\n<div class=\"text-content\">\n<h4 style=\"text-align: center;\">Reduce Unnecessary Costs Targets<\/h4>\n<h5>Reduce supply expenses&nbsp;<\/h5>\n<p>{{form.Based_on_this_action_plan,_summarize_how_you_can_reduce_supply_expenses.}}<\/p>\n<h5>Cut production costs&nbsp;<\/h5>\n<p>{{form.Summarize_your_efficiency_goals.}}<\/p>\n<h5>Lower financial expenditures<\/h5>\n<p>{{form.Summarize_how_you_could_lower_your_financial_expenditures.}}<\/p>\n<h5>Modernize your marketing efforts&nbsp;<\/h5>\n<p>{{form.Summarize_how_you_could_reduce_your_marketing_costs.}}<\/p>\n<h5>Use efficient time strategies&nbsp;<\/h5>\n<p>{{form.Identify_improvements_needed_for_more_efficient_use_of_time.}}<\/p>\n<h5>Harness virtual technology&nbsp;<\/h5>\n<p>{{form.Summarize_how_you_could_use_technology_to_reduce_business_costs.}}<\/p>\n<h5>Narrow your focus&nbsp;<\/h5>\n<p>{{form.Summarize_how_you_could_narrow_your_business_focus.}}<\/p>\n<h5>Make the most of your space&nbsp;<\/h5>\n<p>{{form.Summarize_how_you_could_improve_the_use_of_your_current_space.}}<\/p>\n<h5>Maximize your employee skills&nbsp;<\/h5>\n<p>{{form.Summarize_how_you_could_maximize_your_employee_skills.}}<\/p>\n<h5>Focus on quality<\/h5>\n<p>{{form.Identify_areas_where_you_can_improve_the_quality_of_your_business.}}<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Summarize, based on the above, areas for improvement to reduce unnecessary costs. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set targets to achieve these required improvements to reduce unnecessary costs. <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"date-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set a date to review targets set to reduce unnecessary costs. <\/label> <\/p>\n<div class=\"date-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Would you like to email these targets to reduce unnecessary costs to relevant personnel? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"email-targets-reduce-unnecessary-costs\">\n<h2>Email targets: reduce unnecessary costs<\/h2>\n<div class=\"text-content\">\n<p>You can email the set targets to relevant personnel <strong>using our email widget below<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (13) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (14) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> (15) Name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"produce-and-read-financial-reports\">\n<h2>Produce and read financial reports:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/sHzUcm_uioTfced2OINJEw.jpg\" alt=\"Produce and read financial reports:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/sHzUcm_uioTfced2OINJEw.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"produce-financial-reports\">\n<h2>Produce financial reports<\/h2>\n<div class=\"text-content\">\n<p>The <strong>importance of financial<\/strong> report production <strong>cannot be underestimated<\/strong>.&nbsp;<\/p>\n<p><strong>Financial reports provide you and potential investors with the required information in regards to your business.&nbsp;<\/strong><\/p>\n<p>Financial reports help you make good management decisions. and are <strong>vital for business success<\/strong>.<\/p>\n<ul>\n<li>See &nbsp;<a href=\"https:\/\/www.process.st\/\" rel=\"nofollow\">Process Street<\/a>\u2019s <a href=\"https:\/\/www.process.st\/templates\/income-profit-and-loss-statement-process\/\" rel=\"nofollow\">Income (Profit and Loss) Statement Process<\/a><\/li>\n<li>See &nbsp;<a href=\"https:\/\/www.process.st\/\" rel=\"nofollow\">Process Street<\/a>\u2019s <a href=\"https:\/\/www.process.st\/templates\/cash-flow-report\" rel=\"nofollow\">Cash Flow Report<\/a><\/li>\n<li>See &nbsp;<a href=\"https:\/\/www.process.st\/\" rel=\"nofollow\">Process Street<\/a>\u2019s <a href=\"https:\/\/www.process.st\/templates\/accounts-receivable-process\/\" rel=\"nofollow\">Accounts Receivable Process<\/a><\/li>\n<li>See &nbsp;<a href=\"https:\/\/www.process.st\/\" rel=\"nofollow\">Process Street<\/a>\u2019s <a href=\"https:\/\/www.process.st\/templates\/accounts-payable-process\/\" rel=\"nofollow\">Accounts Payable Process<\/a><\/li>\n<li>See &nbsp;<a href=\"https:\/\/www.process.st\/\" rel=\"nofollow\">Process Street<\/a>\u2019s <a href=\"https:\/\/www.process.st\/templates\/balance-sheet-statement-preparation-checklist\" rel=\"nofollow\">Balance Sheet Statement Preparation Checklist<\/a><\/li>\n<li>See &nbsp;<a href=\"https:\/\/www.process.st\/\" rel=\"nofollow\">Process Street<\/a>\u2019s <a href=\"https:\/\/www.process.st\/templates\/financial-planning-process\/\" rel=\"nofollow noopener\" target=\"_blank\">financial planning process&nbsp;<\/a><\/li>\n<li>See &nbsp;<a href=\"https:\/\/www.process.st\/\" rel=\"nofollow\">Process Street<\/a>\u2019s <a href=\"https:\/\/www.process.st\/templates\/financial-plan-template\/\" rel=\"nofollow\">financial plan template<\/a>&nbsp;<\/li>\n<\/ul><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Create an Income (Profit and Loss) Statement\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Create a Cash Flow report\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Create an Accounts Receivable report\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Create a Balance Sheet Statement\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       5\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Create a Financial Plan\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"read-the-financial-reports-and-spot-the-warning-signs\">\n<h2>Read the financial reports and spot the warning signs<\/h2>\n<div class=\"text-content\">\n<p>By <strong>consulting your financial reports<\/strong>, you will be able to <strong>see warning signs of potential cash flow issues which could arise<\/strong>. For example:<\/p>\n<ul>\n<li>Increased in interest rates<\/li>\n<li>Changes to currency exchange rates<\/li>\n<li>Changes to supplier rates<\/li>\n<li>Weather changes<\/li>\n<li>Seasonal changes<\/li>\n<li>Changes in government policy<\/li>\n<\/ul>\n<p>You should spot these warning signs in advance and produce a <strong>plan to mitigate against them<\/strong>.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"goal-review\">\n<h2>Goal review:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/kaYEy82uH7gB2Qbr7-5Gig.jpg\" alt=\"Goal review:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/kaYEy82uH7gB2Qbr7-5Gig.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"review-credit-control-targets\">\n<h2>Review credit control targets<\/h2>\n<div class=\"text-content\">\n<p>Our<strong> dynamic due date<\/strong> has been used in this task. This task is due for <strong>completion 1 day before the set due date for credit control target reviewal<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Have the required credit control targets been met? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-warning\">{{form.Set_targets_based_on_the_summarized_areas_for_improvement,_to_improve_your_credit_control_procedure.}}<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"review-sale-targets\">\n<h2>Review sale targets<\/h2>\n<div class=\"text-content\">\n<p>Our<strong> dynamic due date<\/strong> has been used in this task. This task is due for <strong>completion 1 day before the set due date for sale target reviewal<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Have the required sale targets been met? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-warning\">{{form.Set_targets_based_on_identified_areas_of_improvement_for_the_sale_forecasts.}}<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"review-supplier-relationship-targets\">\n<h2>Review supplier relationship targets<\/h2>\n<div class=\"text-content\">\n<p>Our<strong> dynamic due date<\/strong> has been used in this task. This task is due for <strong>completion 1 day before the set due date for supplier relationship target reviewal<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Have the required supplier relationship targets been met? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-warning\">{{form.Set_targets_to_achieve_supplier_relationship_improvements.}}<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"review-stock-control-targets\">\n<h2>Review stock control targets<\/h2>\n<div class=\"text-content\">\n<p>Our<strong> dynamic due date<\/strong> has been used in this task. This task is due for <strong>completion 1 day before the set due date for stock control target reviewal<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Have the require stock control targets been met? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-warning\">{{form.Summarize,_based_on_the_above,_areas_for_improvement_in_your_stock_control_measures.}}<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"review-targets-to-reduce-unnecessary-costs\">\n<h2>Review targets to reduce unnecessary costs<\/h2>\n<div class=\"text-content\">\n<p>Our<strong> dynamic due date<\/strong> has been used in this task. This task is due for <strong>completion 1 day before the set due date for reducing unnecessary costs target reviewal<\/strong>.<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Have the required targets to reduce unnecessary costs been met? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-warning\">{{form.Set_targets_to_achieve_these_required_improvements_to_reduce_unnecessary_costs.}}<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"identify-reasons-why-targets-have-not-been-met\">\n<h2>Identify reasons why targets have not been met<\/h2>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Identify reasons why targets have not been met <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Upload an action plan to achieve the previously unmet targets <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"date-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Set date for target re-review <\/label> <\/p>\n<div class=\"date-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"rereview-targets\">\n<h2>Re-review targets<\/h2>\n<div class=\"text-content\">\n<p>Our<strong> dynamic due date<\/strong> has been used in this task. This task is due for <strong>completion 1 day before the set due date for target re-review<\/strong>.<\/p>\n<p>This is a <strong>stop task<\/strong>, this checklist cannot be completed until it is confirmed set targets have been completed. If <strong>targets have not been met<\/strong>, review previous tasks to <strong>ensure an effective action plan is drawn up<\/strong> for target completion.<\/p>\n<p class=\"style-danger\">Be sure to be realistic about what you can achieve as a business, especially if you are regularly facing cash problems.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      All set targets to improve business cash management have been met\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"sources\">\n<h2>Sources:<\/h2>\n<div class=\"text-content\">\n<p><a href=\"https:\/\/www.paypie.com\/blog\/2018\/09\/12-thought-provoking-cash-flow-quotes-and-expressions\/\" rel=\"nofollow noopener\" target=\"_blank\">PayPie<\/a>&nbsp;- <a href=\"https:\/\/www.paypie.com\/blog\/2018\/09\/12-thought-provoking-cash-flow-quotes-and-expressions\/\" rel=\"nofollow noopener\" target=\"_blank\">12 Thought-Provoking Cash Flow Quotes and Expressions<\/a><\/p>\n<p><a href=\"https:\/\/www.fjcm.co.uk\/\" rel=\"nofollow noopener\" target=\"_blank\">Franklin James<\/a>&nbsp;- <a href=\"https:\/\/www.fjcm.co.uk\/credit-control\/step-by-step-credit-control\/\" rel=\"nofollow noopener\" target=\"_blank\">Simplifying The Credit Control Process For You<\/a><\/p>\n<p><a href=\"https:\/\/www.pipedrive.com\/en\/blog\" rel=\"nofollow noopener\" target=\"_blank\">pipedrive<\/a>&nbsp;- <a href=\"https:\/\/www.pipedrive.com\/en\/blog\/when-how-adjust-sales-forecast\" rel=\"nofollow noopener\" target=\"_blank\">When And How To Adjust Your Sales Forecast<\/a><\/p>\n<p><a href=\"https:\/\/www.purchasecontrol.com\/uk\/\" rel=\"nofollow noopener\" target=\"_blank\">purchasecontrol<\/a>&nbsp;- <a href=\"https:\/\/www.purchasecontrol.com\/uk\/blog\/improve-supplier-relationship-management\/\" rel=\"nofollow noopener\" target=\"_blank\">10 Strategies for Improving Supplier Relationship Management (SRM)<\/a><\/p>\n<p><a href=\"https:\/\/www.business.vic.gov.au\/\" rel=\"nofollow noopener\" target=\"_blank\">Business Victoria<\/a>&nbsp;- <a href=\"https:\/\/www.business.vic.gov.au\/money-profit-and-accounting\/financial-processes-and-procedures\/set-up-a-stock-control-process\" rel=\"nofollow noopener\" target=\"_blank\">Set Up A Stock Control Process<\/a><\/p>\n<p><a href=\"https:\/\/www.inc.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Inc.<\/a>&nbsp;- <a href=\"https:\/\/www.inc.com\/molly-reynolds\/4-ways-that-supporting-charity-is-good-for-business.html\" rel=\"nofollow noopener\" target=\"_blank\">4 Ways That Supporting Charity Is Good for Business<\/a><\/p>\n<p><a href=\"https:\/\/www.investopedia.com\/uk\/\" rel=\"nofollow noopener\" target=\"_blank\">Investopedia<\/a>&nbsp;-&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/c\/cogs.asp\" rel=\"nofollow noopener\" target=\"_blank\">Cost Of Goods Sold - COGS<\/a><\/p>\n<p><a href=\"https:\/\/dictionary.cambridge.org\/\" rel=\"nofollow noopener\" target=\"_blank\">Cambridge Dictionary<\/a>&nbsp;- <a href=\"https:\/\/dictionary.cambridge.org\/dictionary\/english\/stock-on-hand\" rel=\"nofollow noopener\" target=\"_blank\">stock on hand<\/a><\/p>\n<p><a href=\"https:\/\/www.americanexpress.com\/us\/credit-cards\/business\/?intlink=bti-global-header-dontdobizwithoutit\" rel=\"nofollow noopener\" target=\"_blank\">American Express<\/a>&nbsp;- <a href=\"https:\/\/www.americanexpress.com\/en-us\/business\/trends-and-insights\/articles\/10-simple-ways-to-cut-business-costs\/\" rel=\"nofollow noopener\" target=\"_blank\">10 Simple Ways To Cut Business Costs<\/a><\/p>\n<p><a href=\"https:\/\/www.chron.com\/?_ga=2.110270983.367572727.1558262609-1566773477.1556102362\" rel=\"nofollow noopener\" target=\"_blank\">Chron<\/a>&nbsp;- <a href=\"https:\/\/work.chron.com\/benefits-good-employee-morale-work-23577.html\" rel=\"nofollow noopener\" target=\"_blank\">The Benefits of Good Employee Morale at Work<\/a><\/p>\n<p><a href=\"https:\/\/www.brainyquote.com\/authors\/anne_m_mulcahy\" rel=\"nofollow noopener\" target=\"_blank\">Anne M. Mulcahy<\/a>&nbsp;- <a href=\"https:\/\/www.brainyquote.com\/quotes\/anne_m_mulcahy_424886\" rel=\"nofollow noopener\" target=\"_blank\">Brainy Quote<\/a><\/p>\n<p><a href=\"https:\/\/pixabay.com\/photos\/ecommerce-selling-online-2140603\/\" rel=\"nofollow noopener\" target=\"_blank\">image<\/a>&nbsp;- <a href=\"https:\/\/pixabay.com\/users\/mediamodifier-1567646\/\" rel=\"nofollow noopener\" target=\"_blank\">Mediamodifier<\/a>&nbsp;- re-sized<\/p>\n<p><a href=\"https:\/\/pixabay.com\/illustrations\/graph-diagram-growth-written-report-3033203\/\" rel=\"nofollow noopener\" target=\"_blank\">image<\/a>&nbsp;- <a href=\"https:\/\/pixabay.com\/users\/mediamodifier-1567646\/\" rel=\"nofollow noopener\" target=\"_blank\">Mediamodifier<\/a>&nbsp;- re-sized<\/p>\n<p><a href=\"https:\/\/pixabay.com\/photos\/windr%C3%A4der-wind-power-energy-blue-2991696\/\" rel=\"nofollow noopener\" target=\"_blank\">image<\/a>&nbsp;- <a href=\"https:\/\/pixabay.com\/users\/distel2610-2726923\/\" rel=\"nofollow noopener\" target=\"_blank\">distel2610<\/a>&nbsp;- re-sized<\/p>\n<p><a href=\"https:\/\/pixabay.com\/photos\/children-splash-asia-sunset-1822688\/\" rel=\"nofollow noopener\" target=\"_blank\">image<\/a>&nbsp;- <a href=\"https:\/\/pixabay.com\/users\/sasint-3639875\/\" rel=\"nofollow noopener\" target=\"_blank\">sasint<\/a>&nbsp;- re-sized<\/p>\n<p><a href=\"https:\/\/pixabay.com\/photos\/financial-analytics-blur-business-2860753\/\" rel=\"nofollow noopener\" target=\"_blank\">image<\/a>&nbsp;- <a href=\"https:\/\/pixabay.com\/users\/6689062-6689062\/\" rel=\"nofollow noopener\" target=\"_blank\">Inactive account \u2013 ID 6689062<\/a>&nbsp;- re-sized<\/p>\n<p><a href=\"https:\/\/pixabay.com\/photos\/businessman-tablet-control-city-3213659\/\" rel=\"nofollow noopener\" target=\"_blank\">image<\/a>&nbsp;- <a href=\"https:\/\/pixabay.com\/users\/geralt-9301\/\" rel=\"nofollow noopener\" target=\"_blank\">geralt<\/a>&nbsp;- re-sized<\/p>\n<p><a href=\"https:\/\/pixabay.com\/photos\/industry-shelf-steel-stock-3129730\/\" rel=\"nofollow noopener\" target=\"_blank\">image<\/a>&nbsp;- <a href=\"https:\/\/pixabay.com\/users\/emkanicepic-7638451\/\" rel=\"nofollow noopener\" target=\"_blank\">emkanicepic<\/a>, re-sized<\/p>\n<p><a href=\"https:\/\/pixabay.com\/photos\/savings-budget-investment-money-2789112\/\" rel=\"nofollow noopener\" target=\"_blank\">image<\/a>&nbsp;- <a href=\"https:\/\/pixabay.com\/users\/stevepb-282134\/\" rel=\"nofollow noopener\" target=\"_blank\">stevepb<\/a>, re-sized<\/p>\n<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"related-checklists\">\n<h2>Related Checklists:<\/h2>\n<div class=\"text-content\">\n<ul>\n<li><a href=\"https:\/\/www.process.st\/templates\/accounting-onboarding-procedures\/\" rel=\"nofollow\">Accounting Onboarding Procedures<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/creating-an-invoice\/\" rel=\"nofollow\">Creating an Invoice<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/bank-reconciliation-template\/\" rel=\"nofollow\">Bank Reconciliation Template<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/expense-management-process\/\" rel=\"nofollow\">Expense Management Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/accounts-receivable-process\/\" rel=\"nofollow\">Accounts Receivable Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/accounts-payable-process\/\" rel=\"nofollow\">Accounts Payable Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/income-profit-and-loss-statement-process\/\" rel=\"nofollow\">Income (Profit and Loss) Statement Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/cash-flow-report\" rel=\"nofollow\">Cash Flow Report<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/balance-sheet-statement-preparation-checklist\" rel=\"nofollow\">Balance Sheet Statement Preparation Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/business-tax-preparation-checklist\" rel=\"nofollow\">Business Tax Preparation Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/annual-financial-report-template\/\" rel=\"nofollow\">Annual Financial Report Template<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/your-first-template-click-here-to-get-started-138\/\" rel=\"nofollow noopener\" target=\"_blank\">Client Services: Accounting Onboarding<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/bank-reconciliation-template\/\" rel=\"nofollow noopener\" target=\"_blank\">Bank Reconciliation Template<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/client-onboarding-for-financial-planners\/\" rel=\"nofollow noopener\" target=\"_blank\">Client Onboarding For Financial Planners<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/creating-an-invoice\/\" rel=\"nofollow noopener\" target=\"_blank\">Creating An Invoice&nbsp;<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/expense-management-process\/\" rel=\"nofollow noopener\" target=\"_blank\">Expense Management Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/financial-management-for-new-projects\/\" rel=\"nofollow noopener\" target=\"_blank\">Financial Management For New Projects<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/investor-pitch\/\" rel=\"nofollow noopener\" target=\"_blank\">Investor Pitch<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/pci-compliance-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">PCI Compliance Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/private-equity-due-dilligence-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Private Equity Due Diligence Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/procurement-guidelines-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Procurement Guidelines and Checklist<\/a>&nbsp;<\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/purchase-of-a-business\/\" rel=\"nofollow noopener\" target=\"_blank\">Purchase Of A Busines<\/a>s&nbsp;<\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/purchase-order-workflow-template\/\" rel=\"nofollow noopener\" target=\"_blank\">Purchase Order Workflow Template&nbsp;<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/startup-due-diligence-for-a-venture-capitalist\/\" rel=\"nofollow noopener\" target=\"_blank\">Startup Due Diligence For A Venture Capitalist<\/a>&nbsp;<\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/environmental-accounting-internal-audit\/\" rel=\"nofollow\">Environmental Accounting Internal Audit<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/budget-process\/\" rel=\"nofollow\">Budget Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/financial-plan-template\/\" rel=\"nofollow\">Financial Plan Template<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/financial-planning-process\/\" rel=\"nofollow\">Financial Planning Process<\/a><\/li>\n<li><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/financial-audit-checklist\/\" rel=\"nofollow\">Financial Audit Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/tax-preparation-checklist\/\" rel=\"nofollow\">Tax Preparation Checklist<\/a><\/li>\n<\/ul><\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Introduction: Process Street - Cash Management Process \u201cNever take your eyes off the cash flow because it\u2019s the lifeblood of business.\u201d -&nbsp;Sir Richard Branson Process Steet\u2019s Cash Management Process is a guide to aid the management of your business's cash flow. As a small business owner, you can use this template on a quarterly basis, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":17855,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"cover_icon_emoji":"","cover_icon_url":"","tasks_count":"57","template_description":"Process Street's Cash Management Process is a guide to aid the management of your business's cash flow.","template_id":"selbtEHExP8tzeJ_4QhImg","task_0":"Introduction:","task_slug_0":"introduction","task_1":"Record checklist details","task_slug_1":"record-checklist-details","task_2":"Credit control procedures:","task_slug_2":"credit-control-procedures","task_3":"Send the invoice","task_slug_3":"send-the-invoice","task_4":"Check-in with the customer","task_slug_4":"checkin-with-the-customer","task_5":"Chase-up with the customer","task_slug_5":"chaseup-with-the-customer","task_6":"Provide the first warning","task_slug_6":"provide-the-first-warning","task_7":"Consult a third party debt collection agency","task_slug_7":"consult-a-third-party-debt-collection-agency","task_8":"Review your credit control procedure","task_slug_8":"review-your-credit-control-procedure","task_9":"Review why your credit control procedure failed","task_slug_9":"review-why-your-credit-control-procedure-failed","task_10":"Email targets set: credit control procedure","task_slug_10":"email-targets-set-credit-control-procedure","task_11":"Regular sales forecasts:","task_slug_11":"regular-sales-forecasts","task_12":"Adjust your sale forecasts","task_slug_12":"adjust-your-sale-forecasts","task_13":"Consult your financial forecasts","task_slug_13":"consult-your-financial-forecasts","task_14":"Email targets set: financial forecasts","task_slug_14":"email-targets-set-financial-forecasts","task_15":"Good supplier terms:","task_slug_15":"good-supplier-terms","task_16":"Review your supplier relationship management procedure","task_slug_16":"review-your-supplier-relationship-management-procedure","task_17":"Set Supplier Relationship Management Targets","task_slug_17":"set-supplier-relationship-management-targets","task_18":"Email targets: Good supplier terms","task_slug_18":"email-targets-good-supplier-terms","task_19":"Stock control measures:","task_slug_19":"stock-control-measures","task_20":"Review current stock levels","task_slug_20":"review-current-stock-levels","task_21":"Update your current stock records","task_slug_21":"update-your-current-stock-records","task_22":"Establish a stock control policy","task_slug_22":"establish-a-stock-control-policy","task_23":"Review your sale policies","task_slug_23":"review-your-sale-policies","task_24":"Re-review your sale policies","task_slug_24":"rereview-your-sale-policies","task_25":"Use stock turn rate to help you plan","task_slug_25":"use-stock-turn-rate-to-help-you-plan","task_26":"Interpret your stock turn rate","task_slug_26":"interpret-your-stock-turn-rate","task_27":"Set a date to review stock control targets set","task_slug_27":"set-a-date-to-review-stock-control-targets-set","task_28":"Email targets: stock control measures","task_slug_28":"email-targets-stock-control-measures","task_29":"Control spending:","task_slug_29":"control-spending","task_30":"Consult your budget plan","task_slug_30":"consult-your-budget-plan","task_31":"Reduce unnecessary costs:","task_slug_31":"reduce-unnecessary-costs","task_32":"Reduce supply expenses","task_slug_32":"reduce-supply-expenses","task_33":"Cut production costs","task_slug_33":"cut-production-costs","task_34":"Lower financial expenditures","task_slug_34":"lower-financial-expenditures","task_35":"Modernize your marketing efforts","task_slug_35":"modernize-your-marketing-efforts","task_36":"Use efficient time strategies","task_slug_36":"use-efficient-time-strategies","task_37":"Harness virtual technology","task_slug_37":"harness-virtual-technology","task_38":"Narrow your focus","task_slug_38":"narrow-your-focus","task_39":"Make the most of your space","task_slug_39":"make-the-most-of-your-space","task_40":"Maximize employee skills","task_slug_40":"maximize-employee-skills","task_41":"Focus on quality","task_slug_41":"focus-on-quality","task_42":"Review your set targets to reduce unnecessary costs","task_slug_42":"review-your-set-targets-to-reduce-unnecessary-costs","task_43":"Email targets: reduce unnecessary costs","task_slug_43":"email-targets-reduce-unnecessary-costs","task_44":"Produce and read financial reports:","task_slug_44":"produce-and-read-financial-reports","task_45":"Produce financial reports","task_slug_45":"produce-financial-reports","task_46":"Read the financial reports and spot the warning signs","task_slug_46":"read-the-financial-reports-and-spot-the-warning-signs","task_47":"Goal review:","task_slug_47":"goal-review","task_48":"Review credit control 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