Cash management is often the 'heart' of the firm in that a firm (just as would an individual or family) must assure that disbursements match-up with available and adequate cash. Consider two firms:
One is a 'service' firm and they provide high level IT assistance to large corporations.
The second firm is a manufacturer of industrial precision tools that are most often custom ordered/made.
What distinctly unique/different collection concerns does each firm have, and, as CEO (chief executive officer) what policies would you put into place so as to maximize to cash flows (sales) and cash receipts (collections)?