54% of CFOs Consider Liquidity and Cash Management Their Top Challenge 

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During these uncertain times, the superior task for treasurers and CFOs is to marque definite their companies person the liquidity indispensable to conscionable regular obligations and the moving superior to respond to changing concern challenges and opportunities. 

It’s nary wonder, then, that 54% of CFOs cite liquidity and currency management as a apical challenge, according to the Corporate Cash Management Playbook, done by PYMNTS successful collaboration with Red Hat, Infosys Finacle and Intel. 

Read more: Corporate Cash Management: Banks Put CFOs successful the Cash Management Driver’s Seat

“In the discourse of the pandemic, wherever it has created a caller benignant of paradigm successful presumption of moving remotely, being capable to person a clear, real-time presumption of what’s happening with your currency flows crossed aggregate banks, aggregate businesses and aggregate geographies beryllium to beryllium immensely important,” Rahul Wadhavkar, caput of currency absorption astatine Infosys Finacle, told PYMNTS. “And we expect this [cash visibility] not lone to stay a apical precedence for treasurers, but [also] to summation much attention.” 

Visibility, Control and Powerful Tools

These decision-makers request real-time visibility and power implicit a increasing array of banking accounts, and they request almighty tools that tin assistance them marque projections successful a clip of uncertainty. Indeed, much than two-thirds of treasury officials program to summation their concern successful integer exertion successful specified areas arsenic real-time treasury, artificial quality (AI)-assisted information and predictive analysis. 

Innovations successful unreality computing and exertion programming interfaces (APIs) person the imaginable to bring bank-level operations to the C-suite and alteration real-time forecasting that outperforms static models. 

“For currency forecasting, the implementation of precocious analytics, including machine-learning techniques utilizing caller and applicable events and information from the bank’s corporate lawsuit pool, allows firm treasuries to place monthly currency travel patterns and seasonal and cyclical variations dynamically, alternatively of simply relying connected humanities information patterns,” Vincent Caldeira, main technologist, APAC (FSI) astatine Red Hat, told PYMNTS. 

Tools to Manage Multiple Payment Flows 

These tools let corporations to negociate aggregate outgo flows from wide-ranging sources, including from integer channels, specified arsenic eCommerce sites and platforms. That’s important due to the fact that outgo flows are diversifying arsenic companies grow into integer retail and B2B channels. 

They tin alteration real-time outgo and cross-border transactions portion besides minding FX risks. Payment security is besides a captious constituent of integer currency absorption solutions, with companies deploying AI and different precocious instrumentality learning to observe and antagonistic fraud threats. 

“In the domain of currency collection, predictive algorithms trained to place imaginable colony hazard based connected past outgo behavior from clients let firm treasurers to identify, negociate and mitigate these risks earlier to optimize their currency conversion cycles,” Caldeira said. 

Holistic Systems That Can Be Easily Integrated 

Leading exertion providers connection these services not arsenic standalone applications, but arsenic holistic systems that tin beryllium easy integrated into endeavor assets readying (ERP) software. 

Real-time reports with important information points tin beryllium seamlessly made disposable connected call, so that anytime idiosyncratic wants something, their treasury strategy oregon ERP strategy tin propulsion that information from the slope system. 

“We are already seeing this hap successful immoderate places, acknowledgment to API exertion and the unfastened banking philosophy,” Wadhavkar said. “To beryllium capable to bash that successfully [is] unthinkable from a firm treasurer standpoint.” 

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