Cashforce is looking to leverage extensive experience within delivering data-driven cash forecasting, as it confirmed the launch ‘Cashforce NextGen,’ a new software platform.
The new platform seeks to decrease barriers of entry for cash flow, with the introduction of real-time data processing, a deeper user experience, enhanced scenario building capabilities and more AI-powered-algorithms.
Ron Chakravarti, Managing Director and Head of the Treasury Advisory Group at Citi’s Treasury & Trade Solutions, commented: “Last year Citi partnered with Cashforce because of the increasing corporate demand for improved cash visibility, accurate cash forecasting, and effective working capital management.
“Today’s market conditions highlight the need for better and faster decision-making. Cashforce NexGen will further support clients with improved decision-support and automation.”
The new platform will officially launch in early 2021, boosting the market with the elevated use of data, as the global economy looks to recover from the pandemic.
Cashforce CEO, Nicolas Christiaen, emphasised: “Through years of experience in cash flow forecasting at organisations with various complexities, we’ve learned that the perfect solution should be able to adapt to the client’s maturity in order for them to scale their cash flow forecasting process at their own pace.
“Our NextGen platform will allow global & local users to start forecasting using an easy workflow and then perfect their process gradually using system integration capabilities, real-time data processing and smart alerting functionality. Simply said, Cashforce NextGen will deliver a swiss army knife for modern-day cash forecasting.”
James Kelly, Group Treasurer at Pearson also stated: “Thanks to Cashforce, we were able to analyse a lot more data at a higher quality than we had ever been able to before.
“Cashforce boosted our cash forecasting process with AI-powered algorithms and scenario-building capabilities generating significant savings in annual borrowing. With the NextGen platform, I’m most excited to use real-time data to improve the accuracy of our scenario models even further.”