You are in the cash conversion business to create desired goods and services
so that the investment in the business is as quickly converted to cash as possible, with the resultant cash-in exceeding the cash-out (net profits or positive return on investment).
KNOW THE BUSINESS YOU ARE IN,
FOR THE WRONG BUSINESS MAY DO YOU IN
Cash Conversion Basics
One of the businesses that every business is in is the cash conversion business, which creates an emphasis on
• obtaining quality sales that result in timely cash collections that provide for a desired profit after deducting all relevant costs such as product or service, functional (such as purchasing and accounting), and customer costs;
• collecting cash on sales ...