| 27-05-2019 | treasuryXL | Cashforce |

CASHFORCE ‘S INTELLIGENT CASH FORECASTING ENGINE HELPS COMPANIES TO CREATE MORE ACCURATE FORECASTS BY LEVERAGING THE POWER OF ARTIFICIAL INTELLIGENCE.

May 22, 2019 New York, NY – Cashforce continues to innovate in treasury digitalization by developing its next generation A.I.-powered Cash Forecasting module, offering accurate forecasting for CFO’s & treasurers struggling to gain better cash visibility and forecasting accuracy. Originally part of a project of the AFTE (French Association of Corporate Treasurers) to disrupt various aspects of treasury, Cashforce got involved to explore how Artificial Intelligence could improve the cash forecasting process. For the initial proof of concept, Cashforce worked closely with a large, globally operating corporate to make this a reality using their financial data.

“While our platform is already globally recognized for providing accurate cash forecasts, we keep on exploring how we can further improve our view on the future. By including A.I. into the mix, we will provide both the CFO, Finance and Treasury departments with even more accurate, efficient and best-in-class cash flow analytics and cash forecasting solutions along with a single version of the truth” commented Nicolas Christiaen, CEO Cashforce.

As an example, Cashforce’s ‘Buffer-algorithm’ will back-test its current Cash flow forecasting model and re-apply these results onto the current model. In addition to the application of smart logic such as customer & vendor payment behavior, this will result in much more accurate forecasts. Companies will be better able to predict the cash outcomes and avoid surprises.

Mark O’Toole, Head of Cashforce for the Americas, commented “By including a feedback loop into the forecast algorithm, Cashforce is able to accurately predict customer payment behavior, unexpected invoices, growth, seasonality and the like.”

After this first release, Cashforce is already working on a next version of the A.I.-driven forecast, by looking at more complex patterns. Several methodologies are currently being explored, ranging from basic methods such as time-series to more complex concepts such as deep-learning and neural networks. At the same time, client feedback is coming in and this gives Cashforce a lot of inspiration on where to improve and what proposition is bringing more value.

As a ‘next-generation’ Cash Forecasting & Working Capital analytics platform, Cashforce helps finance and treasury departments save time and money by offering accurate cash flow forecasting & flexible treasury automation and significant working capital improvements. Cashforce is unique in its category, because it allows users to drill down to the transaction level details and the system integrates seamlessly with ERP systems & banking systems. In addition, an intelligent simulation engine enables companies to consider multiple cash flow scenarios and measure their impact. As a result, finance and treasury departments can be turned into business catalysts for cash generation opportunities throughout the company.

Cashforces’s innovation around big data & analytics for cash management and liquidity has made them unique by bridging the gap between the CFO, finance and treasury.

About Cashforce

Cashforce is a ‘next-generation’ digital Cash Forecasting & Treasury Platform, 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 working capital analytics. 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 is a global company with offices in New York, Antwerp, Amsterdam, Paris & London and provides Cash visibility to multinational corporates across various industries in over 120 countries worldwide.