Mastering Working Capital Management: A Key to Better Spend Control

This article was originally published on the Order.co blog. Read the full article here.??

Is your working capital driving growth – or holding you back??

For many businesses, the challenge isn’t earning revenue – it’s managing it effectively. Poor working capital management can lead to:

• Cash flow bottlenecks that disrupt daily operations.
• Missed opportunities to reinvest in growth.
• Overspending due to fragmented purchasing processes.

But when working capital is managed strategically, it can fuel efficiency, resilience, and scalability.

4 Keys to Better Working Capital Management

?? 1. The Cash Flow Balancing Act

Effective working capital management starts with cash flow visibility. By tracking inflows and outflows in real time, you can avoid surprises, make informed decisions, and maintain the liquidity needed for growth.

?? Pro Tip: Leverage spend management tools to centralize payment and purchasing data, giving you a clear view of where cash is going.

?? 2. Align Spending with Strategic Goals

Uncontrolled spending—particularly on small, frequent purchases—can eat away at working capital. Establishing clear purchasing guidelines and automating workflows ensures every dollar spent aligns with your financial priorities.

?? Pro Tip: Use approval workflows to reduce rogue spending and unlock early-payment discounts.

?? 3. Strengthen Supplier Relationships

Vendors play a critical role in working capital management. Negotiating better payment terms, consolidating suppliers, and creating collaborative partnerships can extend payment cycles while ensuring consistent supply.

?? Pro Tip: Centralize supplier data to identify overlap and reduce redundancy.

?? 4. Automate to Gain Efficiency

Manual processes are a drain on time and resources, often leading to errors and delays. Automation simplifies purchase orders, invoice processing, and reporting, freeing up your team to focus on higher-value tasks.

?? Pro Tip: Automating spend tracking can uncover hidden savings and streamline working capital processes.

Take Control of Your Working Capital Today

Strong working capital management is the foundation for controlling spend and scaling your business. By combining visibility, efficiency, and strategic alignment, you can turn your working capital into a competitive advantage.

?? Don’t let inefficiencies hold your business back. Read the full article here and discover actionable steps to regain control over your working capital.