Customer Channels & Operations Management, Program Build Out, Business Strategy, Human Capital
1 minute read
Aug 4, 2021
Written by: Shawn Sweeney
An unexpected pot of money lands in your lap. Do you splurge on something exciting? Or spend the money in ways that will support your long-term goals?
Since I run a growth-oriented business, I’m always focused on creating systems that enable ready access to cash, as I shared in a recent Forbes Finance Council discussion.
Some of you might be tempted to take an unexpected windfall – whether a personal raise or a boost for your corporate revenue – and find a fun way to enjoy that extra cash. Others might be more cautious and park that found money in the bank. Whatever direction is right at any given time, the key is ensuring that investment bolsters your organization’s overall financial position.
Personally, my entrepreneurial spirit means I’m constantly looking down the road and preparing my company for the next opportunity. That means that when an unexpected influx appears, my gut reaction is to check to make sure our cash reserves are at a comfortable level, ensuring the business is healthy and holding steady.
Rather than spend on something trendy or short-lived, I tend to lean toward investment opportunities that further deepen our assets. I know that by investing wisely in talent, we widen our capabilities, and the company can generate new revenue instead of taking on liabilities that create new risk or expense.
Looking for more smart tips from the Forbes Finance Council experts? Check out some other ways to get the best ROI on your financial windfall.
Late last month, I had the pleasure of attending and facilitating a couple of on-demand panels for the American Banking Association’s (ABA’s) first-ever Risk and Compliance Virtual Conference.
Customer Channels & Operations Management, Data & Analytics, Risk Management & Regulatory Compliance 4 minute read
Cutting-edge technology, coupled with the disruption of COVID-19, has driven significant change in the banking industry this past year. Consumers are now more apt to choose online banking services – a trend that’s been bolstered by the continued ingenuity of the fintech segment. And while customers are keeping banks on their toes with continued demand for new tech, we expect that demand to be accompanied by new policy and regulatory pressure in the next five years.
Customer Channels & Operations Management, Data & Analytics, Risk Management & Regulatory Compliance 1 minute read
Too often, banks – and their employees – think of traditional risk management teams as the heart of your organization’s defense. After all, aren’t they the ones responsible for making sure you follow the rules, mitigate risks and fix things when they go wrong (especially when it’s a big regulatory issue)?
Risk Management & Regulatory Compliance, Change Management, Compliance, Risk Management 1 minute read
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