Treasury software is required to manage several treasury processes. Read the eBook to learn the benefits of using corporate treasury management software.
Treasury management software automates treasury functions such as cash management, investment, debt management, trade finance, and risk management. Corporate treasury software integrates with different financial systems such as banks, ERPs, FP&A tools, and spreadsheets.
The following are the characteristics that corporate treasury software must have:
Ways to improve the treasury operations with the help of corporate treasury solutions:
The following are some of the advantages of automated data capturing:
Using AI and ML for cash flow forecasting: Traditional forecasting typically uses only a slice of internal historical data, resulting in inaccurate predictions. AI and ML-based forecasts can incorporate a wide range of historical and external data to help deliver a finely tuned prediction. They track trends and patterns and create highly accurate and timely forecasts. This helps to improve reporting and planning.
Treasury systems manage cash, bank accounts, liquidity, investments, debt, and intercompany loans. The following are the functions of treasury solution:
Corporate treasury software integrates seamlessly from internal and external data sources. They also clean data to handle formatting or other data quality issues. Bookkeeping in a single repository ensures easy and continuous data access.
With bank statements arriving in various formats, there is a high possibility of human error when manually reconciling—manual reconciliation results in duplicate payments and failure to follow up on transactions or detect frauds.
Cash Management Cloud connects to all banks and reconciles transactions automatically. It helps keep track of bank connectivity, balances, and reconciliation status at the account level.
Corporate treasury software helps calculate net payables and receivables positions. It provides efficient exposure management and integration with in-house banks.
Cash Forecasting Cloud helps to create accurate forecasts fast and easily. It also collects and validates bank and ERP data. It uses the historical variance trends of each forecast to validate accuracy.
Here are some tips for selecting enterprise software:
Due to massive technology advancements, business owners are looking for more innovative corporate treasury solutions.
Business owners look for corporate treasury software for the following reasons:
An automated treasury software removes bank fees for cross-border and multi-vendor payments. Money saved can be allocated towards business expansion, debt repayment, mergers, etc.
The HighRadius™ Treasury Management Applications consist of AI-powered Cash Forecasting Cloud and Cash Management Cloud designed to support treasury teams from companies of all sizes and industries. Delivered as SaaS, our solutions seamlessly integrate with multiple systems including ERPs, TMS, accounting systems, and banks using sFTP or API. They help treasuries around the world achieve end-to-end automation in their forecasting and cash management processes to deliver accurate and insightful results with lesser manual effort.