Tips > Published on 2009/11/8 15:40:00

Contain Costs and Maximize Cashflow

Let's face it. These are difficult financial times. Now's the time to be hyper-vigilant about managing both expenses and cashflow. Here are just a few ideas:

Seek discounts from current vendors
Explore bartering arrangements with other nonprofits/NGOs
Negotiate payment schedules
Accelerate your collections on receivables
Limit or eliminate travel

We've compiled a list of both traditional and not-so-traditional ways to limit and manage cost and cash. Get links to those resources here.

Published on 2009/11/9 0:19:15

See other tips in Managing Expenses

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Poster	Thread
3rd Sector Connector Admin	Posted: 2009/11/15 16:48 Updated: 2009/11/15 16:48
Webmaster Joined: 2009/5/29 From: USA Posts: 116	Re: Are you doing everything you can to contain costs and... From LinkedIn by Dan Clark: ...While I do much of my consulting with credit unions, most nonprofits share a condition. The most discretionary line items in a budget are marketing (researching, advertising, promoting) and travel - most of which is for professional development. It doesn't take much creativity to cut there but the consequences for future years demand that we creatively find other places to cut back, so we can cut those two back less.