What is the definition of Cash Management in the hotel industry?
The term Cash Management explains the field of management that unease itself with the gathering, running and investing of cash. Cash Management is extremely significant in hospitality due to its capability to get better cash flow and shortening the cash cycle. Thereby allowing operations departments to act and purchase more flexibly.
The objective of Cash Management is to make the most of liquidity, optimizing cash funds, control cash flows and maximize the value of funds while minimizing the cost of funds.
Cash Management explanations can be everything that boosts the competence and cost value of financial processes.