A centralized system collects and stores real-time data automatically from multiple banks, ERPs, TMS from different regions.
All the useful data is integrated at a single place so drilling down on entities becomes easier.
The data can be viewed according to the user’s privileges.
The decisions on investments and debts can be made more accurately for the short-term and long-term.
Since automation improves forecast accuracy over multiple horizons, analysts can make decisions on improving data quality more confidently.
Automated data aggregation saves enough time, making it possible to run multiple variance analyses across multiple business units, categories, regions, and multiple durations.
With digital routine, the quarter-ending cash position is predicted more accurately and reporting becomes more data-driven.
Effect on the Role of an Analyst
Instead of a number cruncher, the treasury analyst is considered as an analysis specialist and a go-to person who provides better insights, adds depth to the information, and is proactive towards challenges. Hence, making an impression of the analyst as a high-value employee.
Making a difference with Automation
Technology shifts the process-focused skill sets to value-focused skill sets, for instance:
Accounting skills are shifted to Technical skills
Analytical skills are shifted to Critical Thinking skills
Financial Literacy skills are shifted to Leadership and Management skills
Analysts focus on problem-solving and manage resources with the help of technology, so they add more value.
KPIs of Treasury with Automation
Since AI takes care of manual tasks like data gathering and consolidation, treasury analysts can focus more on the quality of reports and the accuracy of forecasts. Automation transforms the KPIs to be more forward-looking and upward-looking. A treasury analyst’s performance KPIs include:
Average weekly forecast variance
Tracking the percent of visibility across multiple accounts
Tracking percentage of account balances reported automatically
Tracking forecast accuracy
Watch this webinar to get a detailed look over how AI-based cash forecasting transforms the role of a treasury analyst to perform high-value tasks.
Reimagining credit and collections with technology and customer satisfaction at the core
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.