Cash forecasting accuracy still continues to be the biggest opportunity for improvement with treasury teams due to the massive volume of data variables and spreadsheet-driven processes. Not only does this prevent treasury teams to make strategic investment/borrowing decisions but also negatively impacts the company’s bottom line.
Using Artificial Intelligence, treasury teams are able to generate accurate forecasts and shift their focus from tactical reporting to strategic insights to the CFO’s office.
Join Craig Jeffery from Strategic Treasurer and Tracey Knight from HighRadius explain how Artificial Intelligence enables Treasury to ‘up their game’ by forecasting more accurately through the use of AI.
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.