IBAN- Name Check mitigates largest threats for Treasurers
11-04-2023 | The Association of Corporate Treasurers presented the largest threats according to treasurers.
11-04-2023 | The Association of Corporate Treasurers presented the largest threats according to treasurers.
treasuryXL | CashAnalytics | LinkedIn |
01-02-2023 |If you and your team are grinding the gears on a monster cash flow model and are considering moving to an automated solution, here are five reasons to make the switch in early 2023.
By Conor Deegan
Perhaps the biggest benefit of cash forecasting automation is that it will allow you to better predict and manage future surprises. The triple whammy of slower growth, high inflation and rising interest rates has led to considerable uncertainty that will last for the majority of 2023 and beyond. Layer in the inevitable unknowns and you have an environment where a firm handle on cash flow is critically important.
Automation will give you the cash flow data you need to manage the road ahead in a streamlined and reliable manner.
As a result of the changing economic environment and the expected impact on the cash flow of many businesses, you and your team will likely receive a lot more requests for cash flow reporting and insights into cash flow, including forecasts, from your senior stakeholders as they too focus more on cash flow.
Automated cash forecasting and reporting will allow you to respond faster and more efficiently to these new demands while reducing the admin burden on your team significantly.
Banks have quickly passed on the recent interest rate increases by the US Federal Reserve and other central banks around the world to their corporate customers in the form of higher loan interest rates. As deposit rates have yet to see the same increase, there is a need for any company with revolving or short-term debt to use excess cash flow to keep debt levels at a minimum. If they don’t, they will suffer the pincer movement of higher borrowing costs and the reduced value of cash holdings which will have a major impact on the profitability of the business.
Optimising cash and debt levels, with the goal of reducing interest costs while ensuring the business has enough liquidity to function day-to-day, requires a tight handle on cash and robust visibility over current and future cash flow. Without a high level of cash forecasting and reporting automation, you won’t have access to reliable detailed cash flow visibility you need to make these debt repayment decisions with confidence.
The reality is no one wants to spend most of their time manually slogging away with spreadsheets daily. Cash flow spreadsheets can be some of the largest and most complex managed by any finance team due to the number of inputs and volume of data required to create meaningful cash flow forecasts.
While economic conditions have deteriorated, the labour market also remains very tight. Retention of staff remains a top priority for CFOs who understand the upfront cost and ongoing investment needed to make new hires productive and keep them happy. Investing in automation is a great way to show your team that you are committed to both innovation and helping them to do their job, the best way they can.
In line with the above point, automation of manual cash reporting and forecasting will allow you to focus on more strategic objectives such as supporting the growth of your business and planning longer term capital requirements.
It’s impossible to properly focus on strategic issues when you’re weighed down by the grind of manual work. If you or your team spend 80% of time on manual spreadsheet-based cash flow reporting and forecasting tasks and only 20% on analysis and strategic planning, you can flip this on its head with an automated forecasting solution to instead spend most of your time on higher value tasks.
In summary, cash forecasting automation will allow you to:
The net result of automation is that you will produce a higher quality forecast, in a fraction of the time which will give you clearer and more reliable visibility over future cash flow.
Here in CashAnalytics we specialise in helping companies transition from manual, time consuming spread sheet-based cash reporting and forecasting processes to a highly automated system-based approach. We are experts in cash forecasting and cash management and write extensively on the subject. The follow resources may help you as you consider next steps.
07-12-2022 | treasuryXL | CashAnalytics | LinkedIn |
If you are responsible for cash flow forecasting and cash reporting in your company and interested in replacing your manual spreadsheet model with an automated software solution such as CashAnalytics, you’ll first need to build a business case to bring to your CFO.
Despite building a solid business case, it’s likely you’ll have to answer further questions and manage objections. This is normal and should be expected but luckily most of these objections fall into several easy to address categories and we’ve dealt with them all before.
Again, we’ve seen all these objections before. If you want to chat through them or discuss how CashAnalytics can help you replace your cash flow spreadsheet monster, feel free to reach out.
21-07-2022 | treasuryXL | GTreasury | LinkedIn |
01-06-2022 | treasuryXL | CashAnalytics | LinkedIn |
Recently, treasuryXL partnered with CashAnalytics on a LIVE discussion session about how much time, effort, and money can be saved by adopting a data-driven approach to cash forecasting.
During this session, Conor Deegan CEO of CashAnalytics was joined by Ron Wessels, owner of Term Finance and Interim Head of Tax & Treasury at Systal Technology Solutions, and Pieter de Kiewit, Owner of Treasurer Search. They have presented battle-tested methods for increasing the reliability of your data, breaking free from tedious forecasting processes, and freeing up more of your time for analysis.
Click on the image above to view the recording and learn how cash flow automation
14-04-2022 | treasuryXL | Cashforce | LinkedIn |
Have you seen the Treasury Dragons vs. Cash Forecasting session yet? Watch the replay now to learn which cash forecasting solution is right for your business. This session is for treasurers who want to enhance their cash forecasting but aren’t sure which technology will work best for their company. In this session, Nicolas Christiaen compares and contrasts best-of-breed Cashforce with alternative options.
Cash flow forecasting is the process of predicting the flow of cash in and out of a business over a period, generally the responsibility of the corporate treasurer. An accurate cash flow forecast helps companies predict future cash positions, avoid cash shortages, and invest any surplus cash to generate extra income.
Generating an accurate forecast involves collecting information from multiple sources. It’s often still a manual process using spreadsheets and multiple bank downloads. However, today, there are many solutions available which can automate and streamline cash flow forecasting for corporate treasury.
This Treasury Dragons online session on Tuesday, April 5th 2022 at 3:00 PM (BST) looks under the hood of these cash forecasting systems in a live Q&A with real corporate treasurers.
Among the solution providers we’ll be featuring are:
This is the latest in a series of online debates in which treasury technology firms present their solutions to our ‘Dragons’ – and to you.
In short, sharp presentations you will see the highlights of each treasury-enhancing system on offer – and then the solution providers will face some challenging questioning from our panel of treasury tough nuts.
It’s the fastest way to get up to speed on what’s really on offer.
Nicolas Christiaen
Managing Partner at Cashforce
11-04-2023 | For more than 30 years, the Finance Symposium has developed into the most important industry gathering for treasurers
and finance managers in the German-speaking world.
13-04-2023 | Kantox has released a new whitepaper on “Forward Points Optimisation: The Secret Weapon in Currency Management.” This report highlights how risk managers can leverage the differences between spot and forward currency rates for reducing hedging costs and capturing financial gains.
17-04-2023 | At CompleXCountries, it is our mission to provide a forum where treasurers can openly discuss issues and share experiences. We then publish the essence of the discussion, but in a format that respects the need for confidentiality – though it is valuable general information, there is no upside to telling the whole world your specific company has had a problem with Bank A, or that you find country B’s exchange control regulations difficult to handle.
17-04-2023 | Chicago, Ill. – April 17, 2023 – GTreasury, a treasury and risk management platform provider, is developing a series of reports to help CFOs and treasurers thrive in their roles during a volatile economic climate.