TIS Coffee Talk

11-07-2022 | treasuryXL | TIS | LinkedIn |

Attend TIS’ coffee talk tomorrow with Joerg Wiemer and Nicolas Christiaen to learn more about how their innovative and cloud-based solution is addressing treasury’s contemporary concerns in the areas of forecasting and liquidity management.

Tuesday, July 12th, 4-5PM CEST

Cash Forecasting & Liquidity Management with TIS

 

Speakers: Jörg Wiemer, CSO & Co-Founder of TIS.  Nicolas Christiaen, Founder of Cashforce

Date: Tuesday, July 12th, 10-11am EDT / 4-5pm CEST

Session Outline: Today, cash reporting and forecasting functions are still being performed manually by a significant portion of treasury groups, which represents a major pain point for CFOs and business leaders when attempting to make strategic financial decisions. These manual workflows also limit treasury’s bandwidth to focus on other tasks and impact their ability to effectively manage liquidity and working capital. However, the new suite of capabilities developed by TIS and Cashforce (acquired by TIS in Q2 2022) eliminate many of these inefficiencies and ultimately enable companies to gain quick and accurate insights to their financial position based on reliable payments and liquidity data.

Key Discussion Points: In this session, Jörg and Nicolas will:

  1. Explore the treasury industry’s outstanding need for improved cash forecasting solutions and workflows.
  2. Examine the modern challenges of collecting and aggregating the right data together to conduct forecasts.
  3. Showcase how the accuracy and completeness of this data is paramount to the success of treasury’s overall forecasting strategies.
  4. Highlight how a “data-first” approach to forecasting generally results in more accurate and actionable insights.

To better understand how global liquidity management and cash forecasting workflows are being transformed through TIS’ revolutionary data aggregation, analytics, and advanced AI / ML capabilities, use the below link to register.

We can’t wait for you to join us! 

 

Nicolas Christiaen on TIS’ acquisition of Cashforce

06-07-2022 | treasuryXL | TIS | CashForce | LinkedIn |

Would you like more insights into TIS’s acquisition of CashForce? Hear from Nicolas Christiaen, CEO and founder of Cashforce, as he describes the inherent synergies between the two companies and what may subsequently be accomplished as a result of the acquisition.

Watch the video below to hear from Nicolas

 

 

“Our best-of-breed solutions are very complementary to each other: Being that natural synergy”

 

 

 

Nicolas Christiaen, CEO and founder of Cashforce

 

Tips & Tricks for optimizing Forecasting & Working capital

| 30-06-2021 | Cashforce |

The economy is poised for a rebound due to pent-up household demand coupled with historically low inventories. Businesses need to start preparing for the surge in orders and ensure they can sufficiently manage working capital and continue to finance their operations in the most efficient way.

Automating key elements of the Order-to-Cash process will allow businesses to absorb this revenue growth with their existing resources, while generating greater sums of liquidity — ensuring they can stay on top of their cash conversion cycles without the need for expensive and risky borrowing.

Watch Rob Harvey from Sidetrade alongside Nicolas Christiaen, CEO & Co-founder of Cashforce.

A few key points discussed in this session:

  • The importance of thinking about the process first to understand your cash flow drivers and to define what you want to measure.
  • Key to automating your processes is to start small, land & expand.
  • Create synergies by effectively combining cash & working capital data.
  • Building the business case internally by calculating the different aspects that bring ROI.

Are you ready for the economy to bounce back?

Watch this session on-demand Here

 

Corporate Liquidity Forum: The Resilient Digital Treasury

| 04-02-2021 | Cashforce

Next week, our Partner Cashforce is speaking at Citi’s 2021 Corporate #Liquidity Forum: The Resilient Digital #Treasury Global Conference together with their client Kiera Agnew, assistant treasurer at Kellogg Company. During this event, Treasury Trends & Priorities, Cash & Liquidity Management, and more interesting Treasury Topics will be discussed. Don’t miss it!

? February 10th, 10am – 12pm EST (4pm – 6pm CET)

Key Topics include:

  • Economic Outlook
  • 2021 Treasury Trends & Priorities
  • Global Outlook for Liquidity Management
  • New Business Models and the Evolution of Treasury
  • Cash Flow and Real-Time Liquidity Innovation

 

For More Information and How to Register click HERE ?

 

 

 

Getting Granular: A Tool to dig deeper and Improve Cash Forecasts

03-02-2021 | Cashforce | treasuryXL |

Covid-19 shook the foundations of Cash Flow forecasting and Working Capital Management for companies facing uncertainty about revenues, vendor payments, appropriate inventory levels and adequate cash reserves.

  • At a recent NeuGroup virtual interactive session, one participant impressed others by describing how a Fintech solution provided by Cashforce a year earlier allowed his company to dig into the weeds of business operations, examining line-item details of cash flows to prepare for and absorb shocks to liquidity.
  • That ability helped treasury provide real value to the company when the internal spotlight landed on the team during the pandemic.

Digging into details: Cashforce opened a window to a more accurate cash picture by revealing what was going on across the business and how various moving ‘levers’ were rapidly changing, the treasurer said.

  • The technology tracked the granular details of cash flows and highlighted respective drivers that helped identify areas of business behaving normally and those under greater stress from delays in customer receipts.
  • The resulting insights facilitate setting baseline expectations and seeing potential roadblocks so that treasury teams can have productive conversations with operations teams about changes, new products, etc. so that business intelligence is layered into forecasts appropriately.

The velocity and veracity of data. Covid-19 has called more attention to the need for banking APIs and the harmonization of data feeds into a single analytical source. Real-time mandates are now the norm: Everyone wants payment information in real time, with consolidated cash positions at the press of a button. This greater level of urgency has driven the need for cash flow forensics and analytics.

  • 82% of participants polled have accelerated plans to automate and digitize treasury operations since the pandemic (see chart above for details).
  • Cashforce stressed that all processes surrounding cash flow and working capital optimization must be revisited to accomplish real-time goals. Across companies, they are seeing an emergence of a cash culture away from the heavy focus solely on earnings.

 

 

This shift requires links to AI models so treasury practitioners can determine cash flow drivers not easily spotted by the human eye because they are in the weeds of massive amounts of data.

The data is there; why can’t we get to it? Simply put by one member: Most treasury management systems (TMSs) are not designed to house the magnitude of transaction-level data nor provide the analytic capabilities needed for transparent cash forecasting and best-in-breed working capital analytics.

  • For example, not all TMSs are able to take in various data streams or extrapolate trends to build cash flow patterns into a cash forecast. For companies with multiple ERPs, the complexity and volume of data becomes exponentially difficult to manage and impossible to analyze manually.
  • Algorithms designed to roll up your sleeves for you and dig into transaction-level detail to predict trends and flag anomalies provide a structure for cash optimization and a safeguard for deviations that threaten liquidity.
  • Measure KPIs to move the needle. Automated calculations and daily reporting on key indicators through Cashforce tools allow for expedited metrics that enable smart decision making and facilitate improving working capital through analytics.

Wedded bliss: Marrying short-term direct to long-term indirect cash forecasts! Treasury and FP&A forecast disconnects are common sources of reconciliation tension across companies.

  • Cashforce uses a “rules engine” that takes ERP data to transform the indirect P&L components into direct cash flow drivers and calculate timing parameters based on historical trends.
  • One member inquired about the possibility of forecasting by purchase order and was pleased to hear that once the purchase order details were transferred into the system, algorithms calculate cash amounts and timing for both “open ended or closed” purchase orders, taking the headache out of what is often a guessing game.

 

 

 

Digital Treasury: Can it Tackle the Cash Forecasting Challenge?

01-05-2021 | Cashforce | treasuryXL |

Several decades ago, Excel was invented to process/model inputs and generate outputs. Today, it is still by far the most used technology to generate a cash flow forecast. However, as we strive to achieve better forecasting accuracy rates, our desire for automation and the seamless processing of FX hedges, liquidity borrowings and deposits have underlined the need for more effective modelling and increasingly powerful data processing.

The good news is that we’re at the forefront of that digital treasury revolution, or so-called ‘Treasury 4.0’. This means:

  • Leaving the manual-driven Excel jungle behind us and adopting an automated, data-driven forecasting process
  • Automating decision-making based on logic (rules that are within corporate policies), which will drive our liquidity and FX hedge usage

THE CASH FLOW FORECASTING CHALLENGE

Last year, multiple treasury surveys from sources including the Association for Financial Professionals, the UK Association of Corporate Treasurers, PwC and Citi, concluded that cash flow forecasting remains the primary challenge for treasurers today.

What are the headaches behind the process? Why is it so difficult for a corporate treasurer to generate an accurate cash flow forecast? And do we currently have the opportunity to solve this challenge?

The cash flow forecasting challenge consists of multiple underlying process complexities. The aim is to create an accurate cash flow forecast that helps us to make optimal FX and liquidity decisions.

What is accurate? You could write a book about cash forecast accuracy, since accuracy levels are totally different when comparing forecasts between different industries, time horizons, cash flow categories etc. When we forecast with a time horizon of five years, the accuracy levels are, of course, nowhere near as precise as when we forecast something just a few days in advance – and more reliable data is available. Depending on the goal, the treasurer will need a specific form of accuracy.

In addition, cash flow forecast data, together with the forecast assumptions/used models, need to come together in a well-coordinated process. Other challenges lie behind this process, including a disconnect between different data sources/systems such as enterprise resource planning (ERP) and treasury management systems.

Furthermore, there are myriad data-related issues to contend with including: concerns regarding data quality inside these multiple systems; the sheer volume of data to be processed; the need for granular and/or high-level data; and whether reliable external data can be found to be used to further improve the model.

Finally, aligning and coordinating forecasting assumptions between the different company departments is a time-consuming exercise. Imagine pulling all these assumptions from both HQ and local levels into an Excel model. No easy task.

 

FIG 1: THE CASH FLOW FORECASTING CHALLENGE

Fig 1: The cash flow forecasting challenge

SO, WHAT HAS CHANGED?

Solving the cash flow forecasting challenge is easier said than done. Nevertheless, today treasurers can leverage several available technologies that, if used together intelligently, can tackle the described challenges head-on.

First, when we think about the goals and the accuracy levels that treasurers want to achieve, we can use different models to calculate those, such as accuracy heatmaps. Second, when we consider the data (ERP and non-ERP) required to run these cash flow forecasts, we can rely on big data engines, advanced extract, transform and load (ETL) processes, and application programming interface- (API) and non-API-based connectors that create an easy data flow into forecasting models. We have ways to analyse data quality as never before and we can set up a reliable work flow process to obtain assumptions from the decentralised business units all the way up to HQ level. This generates a cash flow forecast while keeping the granular detail.

Third – and we are only scratching the surface here – several machine learning models and algorithms are now at our disposal. These can be used to build and optimise cash flow forecasting models, so we can indeed solve the forecasting challenge in a reliable way.

Finally, armed with the right tools, the salient question is: what can we actually do with the cash forecast? We call it Cash Flow Forecasting 3.0: automating the decisions that are based upon the cash forecast (investing excess liquidity, performing a particular hedge, etc.) or the so-called post-forecasting decision-making engine.

By combining technologies we can not only automate manual and repetitive tasks, but effectively integrate the systemic data with human expertise and algorithmic trends from historic data. Add to this the use of recommendation engines and intelligent insights, and the interplay of data inputs can generate enriched decision support. Apparent visualisations and scenario analyses can offer a clear view of actionable results that treasury and management can use in their decision process. Reliable technology that enables people to make high-caliber decisions; this, we believe, is the true power of digital.

 

 

About Cashforce        

Cashforce is a Cash Forecasting & Working Capital Analytics platform for corporates, focused on analytics, automation and integration. Cashforce connects the Treasury department with other finance / business departments by offering full transparency into its cash flow drivers, accurate & automated cash flow forecasting and treasury reporting. The platform is unique in its category because of the seamless integration with numerous ERPs & banking systems, the ability to drill down to transaction level details, and the intelligent AI-based simulation engine that enables multiple cash flow scenarios, forecasts & impact analysis.

 

Cashforce webinars on hot Treasury Topics | Anytime, Anyplace, and Anywhere

| 09-11-2020 | Cashforce

Cashforce is a smart cash flow management and cash flow forecasting platform for working capital intensive businesses. Cashforce is unique because it offers full transparency into what exactly drives the cash flow of complex. Over the past months, Cashforce has presented a few interesting Webinars on the following topics:

  • Working Capital Management
  • Treasury
  • Artificial Intelligence & Cash Forecasting
  • Supply Chain Management

Missed these Webinars? Don’t Worry.

Here is your opportunity to watch all these recordings:

✈️ Working Capital Management – Navigating Your Company Towards Brighter Skies 

? How Treasury Is Dealing with The New Normal 

☕️ Coffee & Algorithms: An AI-powered Cash Forecasting

? Building a Resilient Supply Chain 

 

Make sure to subscribe to their NextGen newsletter ? as well to stay informed on their new platform? and upcoming events: https://lnkd.in/dbCiCmQ

Cashforce Webinar: Building a Resilient Supply Chain

| 05-10-2020 | Cashforce

We highlight the following event, held by our partner CashForce. Webinar: Building a Resilient Supply Chain

Over the last couple of months, many companies faced quite some disturbance value chain. During this session we unpack some of the trends and possible solutions towards building a resilient supply chain.

In this webinar, we will share how companies can define a new strategy to overcome this pressure on liquidity.

We are very proud to welcome the following speakers:
• Nicolas Christiaen, CEO & Co-founder at Cashforce
• Steven Lenaerts, Head of Product Management Global Channels at BNP Paribas
• Brian Shanahan, Founder of Working Capital consultancy Informita

Date, time and registration

Date: Tuesday, October 13th 2020

Start time: 1pm-2pm CEST

Register here

Cashforce is advancing cash forecasting innovation with the launch of its “Cashforce NextGen” platform

| 28-09-2020 | Cashforce | treasuryXL |

Cashforce has announced it is launching “Cashforce NextGen”, their new software platform, leveraging years of experience in delivering data-driven cash forecasting. With this new platform Cashforce wants to lower the barrier of entry for cash flow forecasting by introducing real-time data processing, a more intuitive user experience, enhanced scenario building capabilities and more AI-powered-algorithms. Cashforce NextGen will be launched in Q1 of 2021.

“Through years of experience in cash flow forecasting at organizations with various complexities, we’ve learned that the perfect solution should be able to adapt to the client’s maturity in order for them to scale their cash flow forecasting process at their own pace,” says Cashforce CEO Nicolas Christiaen. “Our NextGen platform will allow global & local users to start forecasting using an easy workflow and then perfect their process gradually using system integration capabilities, real-time data processing and smart alerting functionality. Simply said, Cashforce NextGen will deliver a swiss army knife for modern day cash forecasting.”

Current Cashforce users are also excited about the upcoming NextGen platform. “Thanks to Cashforce, we are able to analyze a lot more data at a higher quality than we had ever been able to before,” says James Kelly, Group Treasurer at Pearson. “Cashforce boosted our cash forecasting process with AI-powered algorithms and scenario-building capabilities generating significant savings in annual borrowing. With the NextGen platform, I’m most excited to use real-time data to improve the accuracy of our scenario models even further.”

The NextGen platform is being built in conjunction with clients and prospects (through an Early Adopter Program), top-tier treasury advisory firms and global cash management banks. The first rollout is scheduled for early 2021. Find more info on Cashforce NextGen and its launch!

 

About Cashforce        

Cashforce is a Cash Forecasting & Working Capital Analytics platform for corporates, focused on analytics, automation and integration. Cashforce connects the Treasury department with other finance / business departments by offering full transparency into its cash flow drivers, accurate & automated cash flow forecasting and treasury reporting. The platform is unique in its category because of the seamless integration with numerous ERPs & banking systems, the ability to drill down to transaction level details, and the intelligent AI-based simulation engine that enables multiple cash flow scenarios, forecasts & impact analysis.

 

Webinar recording: The Future of Cash Flow

| 11-08-2020 | Cashforce

Cash forecasting has been essential to treasurers over recent months both with respect to systems/behaviour/data.

In this webinar we discuss the future of cash flow, together with Caroline Stockmann (ACT), Ginny Wu (Walker Shop Footwear), Gerard Tuinenburg (Unilever), James Adams (Chalhoub) and Nicolas Christiaen (Cashforce).

Watch recording: