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.
The HighRadius™ Treasury Management Applications consist of AI-powered Cash Forecasting Cloud and Cash Management Cloud designed to support treasury teams from companies of all sizes and industries. Delivered as SaaS, our solutions seamlessly integrate with multiple systems including ERPs, TMS, accounting systems, and banks using sFTP or API. They help treasuries around the world achieve end-to-end automation in their forecasting and cash management processes to deliver accurate and insightful results with lesser manual effort.