How well is your company's cashflow managed?

While numerous comments concerning the management of a company can be made, the point I would like to address today is the importance of cashflows:

Briefly put cashflows are the life and blood of your company, without them you cannot pay your employees, you cannot meet your debts, you cannot further expand or buy stock. If your cashflows are not tightly managed, you may very well end up filing for bankruptcy, even if your business is successful (i.e overheating) !...

Managing cashflow might be technical at times but this shouldn't prevent you from making sure your CFO knows what he is doing:

• Does he understand your current business model?
• Can he identify its weaknesses and strengths in terms of cashflows?
• Can he offer solutions to mitigate the weaknesses?

It is very likely that every good CFO will be able to answer yes to all these questions... however, the problem is that less experienced CFOs will answer yes too...