While there is no “silver bullet” available to solve every company’s cash forecasting roadblocks, having the right processes in place is a good start. AI is bringing a new focus to cash forecasting with brand new solutions for age old processes.
What and how you measure something will vary depending on your business, industry, and goals. It starts with a detailed self-assessment of your existing cash forecasting processes. This is essential to isolate gaps in your performance and identify opportunities for improvement. A better forecast can directly reveal potential liquidity constraints ahead so that the treasury department can proactively take mitigating actions.
The Cash Forecasting Maturity Model can help decision makers perform an in-depth evaluation of their current cash forecasting processes and identify clear next steps to become best-in class.
Join Tracey Ferguson Knight, a 25+ years treasury practitioner and consultant as she takes you through the Cash Forecasting Maturity Model and build robust process areas regardless of your organization’s size and complexity.
HighRadius’ Award-winning AI-enabled solutions power 200+ Fortune 1000 companies to optimize their Order-to-Cash and Treasury Process. HighRadius’ Autonomous Systems, comprising of Integrated ReceivablesTM , Cash Forecasting Cloud, RivanaTM and FreedaTM , use AI-powered technology and digital assistants to improve Receivables and Treasury processes beyond best-in-class industry benchmarks.
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.