An analyst takes part in the four core activities of cash forecasting. This is how the key components look like when an analyst follows the traditional approach:
The traditional routine makes the treasury analyst appear like a number cruncher. The low-value work makes an impression of the analyst as a low-value employee.
To earn the seat of a high-value employee, the analyst needs to adopt the digital routine.
Upgrading to the digital way of forecasting cash reforms the roles and responsibilities of a treasury analyst, hence reforming all the four processes:
With digital routine, the quarter-ending cash position is predicted more accurately and reporting becomes more data-driven.
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.
Technology shifts the process-focused skill sets to value-focused skill sets, for instance:
Analysts focus on problem-solving and manage resources with the help of technology, so they add more value.
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:
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.