Improving the efficiency of cash flow management: the case of JSC Kazakhtelecom

This study undertakes a comprehensive evaluation of cash flow management practices, employing both quantitative and qualitative methodologies to assess the financial performance of a leading telecommunications company over a five-year period (2019–2023). Utilizing a descriptive-analytical research design, the analysis integrates horizontal financial analysis, liquidity ratios, and financial stability indicators to uncover inefficiencies, identify potential risks, and formulate strategies for improvement. The horizontal analysis examines temporal trends across operational, investment, and financial activities, while coefficient-based liquidity assessments evaluate short-term solvency. Additionally, financial stability ratios provide insights into long-term sustainability by measuring the balance between equity and debt, operational maneuverability, and the overarching stability of financial structures. The findings reveal that JSC "Kazakhtelecom" could enhance its cash flow efficiency by adopting a more integrated and adaptive approach. This includes improving cash flow forecasting, streamlining expense management, reducing over-reliance on debt, and reinforcing liquidity management practices. The study underscores that a proactive and comprehensive approach to managing cash flow not only ensures operational stability but also strengthens the company’s capacity to navigate economic volatility. Additional strategies recommended include renegotiating key supplier contracts to optimize payment terms, implementing advanced risk management tools to mitigate potential cash flow disruptions, and refining financial planning processes to align with long-term strategic goals.

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