It absolutely does. You should have 3 months of cash in the bank always. The rest should be in cash equivalents or short term investments. This is why most company’s with payrolls like that have a person called a “Treasury Officer” who manages all that and makes sure the bank accounts are funded adequately. They should also spread that around between banks to ensure that in the case of an issue with one facility there are other facilities or lines of credit to cover short term needs.

Anybody with more than $5 million in the bank should have someone dedicated to managing that money. If you don’t, then you’re not running a business properly. Startups like to skimp on important things like that and they shouldn’t. Any CFO with basic skills should be doing or arranging this depending on the size of the company. That’s literally their job.