Most companies still use age-old methods in their treasury department. Spreadsheet has been the most widely used tool for cash forecasting for a long time and still continues to be so. However, it has certain limitations:
Due to the limitations, the cash forecasts generated are inaccurate and unreliable. This leads to poor borrowing and investing decisions.
Given the available treasury technology such as AI, RPA, and Machine Learning, treasury should consider automation to improve team productivity.
These are the steps to choose the best-fit technology:
The main goal of treasury technology should be to eliminate manual efforts, support confident decision-making, and generate ROI.
To gather more insights on how to get started on choosing the best-fit treasury technology, watch this webinar on buying and implementing technology for treasury professionals.
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