With the threat of a deep recession looming large on the horizon, companies realize that maintaining liquidity is essential to navigate this crisis. Tasked with ensuring sufficient liquidity, Treasurers must provide the CFO and Board with accurate forecasts which predict possible devastating events. Foreknowledge of a possible cash crunch can enable Treasury to apply measures to mitigate the impact and ensure the continued viability and credit worthiness of the company.
This is, however, easier said than done! COVID-19 is a black swan event, meaning there are no historical data points for Treasury to refer to. Further, key cash flow indicators such as DSO are changing so rapidly that the assumptions made while forecasting are often rendered irrelevant by the turn of the week.
With CFOs demanding accurate and current views of cash, how can Treasury departments ramp up the speed with which they forecast to deliver each iteration in real-time, especially when teams are working remotely?
For answers, join the 30-min webinar where Tracey Knight and Bill Weiss discuss how companies can quickly pivot to the new norms, using cash forecasting technology to generate accurate forecasts on a real-time basis.
HighRadius Cash Forecasting Cloud – an advanced forecasting system – leverages the proven RivanaTM Artificial Intelligence (AI) platform to provide the most accurate cash flow forecasts – right from a ledger account level and rolling up to the organizational level. Delivered as a Software as a Service (SaaS), the solution seamlessly integrates with your company’s ERPs, accounting systems, banks and order management systems. Multiple AI and Machine Learning algorithms process datasets including bank statement inflows/outflows, sales orders/customers invoices, purchase orders/vendor invoices and expense reimbursements for comprehensive as well as accurate cash flow forecasts. The closed-loop, machine learning feedback system ensures that the forecast models become more accurate with time.