Forecasting Software
Cash Analytics is one of the many forecasting software’s being used by companies primarily in the banking sector. This is a cash forecasting and liquidity planning software that presents the CFO’s treasurers, as well as controllers with clear visibility to the existing and future aspects of the business, inform of liquidity and cash. The software avails the metrics and information required to enable safe and efficient management of future cash flow. The software offers a comprehensive set of working capital as well as continued reporting tools that have a dynamic visualization and automated data refresh (Deegan et.). The companies that use this software are able to deliver cash openings to the users by enhancing their capability to accurately forecast business issues like customer delayed payments or inventory creation. There other notable additional benefits like dynamism in reporting that offer visibility on the movements of the working capital, sourcing of consolidated information, reporting that does not necessitate any form of manual rework and reduction of time in the development of informed decisions. The major problem as far as cash flow forecasting is concerned is that it brings is all diverse parties and inputs together. This makes the management of the forecasting procedure inevitably evolve and change, and cash analytics is not exceptional.
One major area that cash analytics is being applied is in the banking sector. In banks, there is direct bank connectivity where daily reporting on cash positions is automated. As mentioned, connectivity in bank reporting provides a way that bank customers gain access to the bank account through an automated link (Deegan et al.,). This implies that all-important information is automatically pulled from a company’s cash forecasting and liquidity report systems. In other words, once the treasury and finance experts find these reports ready to use. Cash analytics assist when a CFO or even a Finance manager requests an updated report concerning cash flows and balances from all over the business, which can be received in a click of a button. Therefore, Cash analytics plays a significant role in the bank reporting connectivity aspects that assist in the attainment of uncomplicated live cash flow perceptibility.
As noted, cash analytics is being used in the banking sector and also a company like JOST. As a leading manufacturer of vehicle components, it requires a lot of connectivity for numerous reasons. These include attainment of group-wide banking account functions, implementation of a vigorous and consistent thirteen-week forecasting procedures. In other words, cash analytics enables the production of high-quality reports to be used by the management team and the Board and also facilities the company in the process quarter and year-end forecasts and reports.
The software has many competitors such as sap business one, merlin, prophix, among others. However, cash analytics has been ranked number one among the most efficient budgeting software. In other words, the software has a large market share, which indicates that it’s at the top and most preferred by customers. That way, it can be deduced that it offered at a favorable price.
Work Cited
Deegan, Conor, et al. “Computer-implemented forecasting system and method.” U.S. Patent Application No. 14/716,389.