Successful RBC event provides insights into successful business management
11th RBC Business Banking Client Event
WILLEMSTAD – RBC Business Banking is known for hosting unique client events that are coupled with advice sessions aimed at creating the right environment for deepening insights and learning opportunities. Recently, RBC Business Banking together with Santé Finance held a client event on Curaçao for more than 20 business clients from small, medium and large businesses with the objective of informing, sharing knowledge and educating about keys to successful business management.
RBC chose the topic based on the needs of its business banking clients; who on many occasions discuss their struggle to run a financially healthy business on financial statements alone. In their presentation Farida Biervliet and Ronnie Gruppen from Santé Finance- a company providing accountancy and advisory services- focused on three keys to successful business management: cash flow planning, internal control and reliable and timely management information. Although both Biervliet and Gruppen acknowledge the importance of accurate financial statements to track what has happened in a business in the past, they see many businesses struggle with reporting alone. “To simplify it, imagine your business is a car. The cash flow planning is the gas your business needs to run. The internal control is your business’ engine and internal audits are like servicing your car. Up-to-date and reliable management information is your dashboard; you need to know how fast you are going now. Not a few months ago or a year ago. But now,” Biervliet explained to the guests. Gruppen delved deeper into the importance of cash flow planning. “Profit is an opinion; cash flow is a fact. Even profitable businesses can run into issues if an important debtor doesn’t pay. Thinking in terms of cash guarantees a business’ survival in the long run. It also helps management focus on cost control, improve collection of overdue amounts and increase profitability,” said Gruppen. Both professionals provided more insights into proper internal control procedures to prevent theft, fraud and erroneous reporting.
Russell Kopke, RBC Area Vice President for Curaçao and Bonaire: “The take away from this session is that if you have basic concepts in place it’s easier for the bank to say yes to whatever you are requesting. Especially if you have a professional party like Santé Finance compiling your information.” Pierrot Hurtado, Country Manager Curaçao and Bonaire thanked the speakers and the guests for an informational session and said: “Keep doing what you do best and outsource the rest to professionals. RBC is here to help you grow your business and we’ll be happy to discuss your business and your needs.”
The RBC Business Banking team, in close collaboration with Santé Finance, organized the 11th successful event focusing on its clients. By working closely with partners such as Santé Finance, RBC is able to fulfil its promise to its clients: to offer them the best advice that will enable them to run their business successfully. RBC’s company purpose is to help clients thrive and communities prosper. RBC has consistently organized mini-seminars and gatherings on a regular basis and they look forward to yet another opportunity to host another client event.