The company experienced a severe liquidity shortage, but the CFO wanted to avoid taking out a line of credit. With support from Gartner, he overhauled the company’s cash forecasting process, and the company is positioned to become cash flow positive in 2020.
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Mission-critical priority
The company experienced a liquidity shortage in the aftermath of COVID-19, but needed to avoid drawing down credit lines. The CFO asked: “How can I drive cash flow now?”
How Gartner helped
A Gartner advisor helped the CFO address his most urgent cash flow concerns by revamping the company’s short-term cash forecasting method, implementing smarter processes, simplifying information flows and enhancing the presentation of data to stakeholders. The advisor also provided tools for building a culture of cash-consciousness that instilled positive behavioral change in business leaders to minimize future liquidity problems.
Business impact
With support from Gartner for Finance, the client successfully:
- Informed critical decisions the company made in immediate response to COVID-19
- Enabled the company to maintain healthy liquidity levels without drawing down credit lines
- Positioned the company to become cash flow positive in 2020
- Enabled more accurate monitoring of short-term cash flow expectations
- Improved business leaders' understanding of controllable cash flow drivers
Industry:
Insurance
Revenue:
$100M-$500M
Employees:
100-500
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