Optimization of the company's cash flow

F I G U R E N ° 8 : E E S T I M AT E D I N F LO W S O F T R E A S U RY 2 0 1 5
0,25
0,2
0,15
0,1
0,05
0
-0,05
-0,1
B - KNOWLEDGE OF THE STRUCTURE OF CASH RECEIPTS AND DISBURSEMENTS.
The development of the Treasury curve is based on intimate knowledge of cash receipts and disbursements of the
company structure.
1-THE STRUCTURE OF RECEIPTS OF THE FIRM.
Knowledge of the structure of cash provides us with a first series of causes of variations in the cash balance.
A relatively simple technique derived from processes Markov and applied inside the company, 'analysis by age of the
receivables', significantly improves the quality of projected cash. At one point is conceded a certain percentage of
receivables arising from past sales. For example, examination of the source of the receipts recorded during the last
five periods allows us to draw the following table: To reserve the confidentiality of the firm, these are approximately
the numbers achieved by the company in similar periods
PERIOD TO WHICH THE SALES GIVING RISE TO
PAYMENT, OCCURRED
Table n°13: Structure of receipts of the firm
PERIOD DURING WHICH THE PAYMENT OCCURS
1 2 3 4 5
1 30 39 25 20 10
2 - 27 40 25 20
3 - - 30 35 23
4 - - - 23 37
5 - - - - 30
In each box figure the percentage of the turnover achieved in the period i (line number) and cashed in the period j
(column number). Thus the receipts for the period 5 come from:
10% of the Turnover at the first period
20% of the Turnover in the second period;
23% of the Turnover in the third period;
37% of the Turnover in the fourth period;
Page 92 of 124