Cash & Working CapitalTechnology

Exploring Cashforce’s Forecasting Solution, Among Others

By August 11, 2020August 23rd, 2021No Comments

Bottoms-up, top-down, ERP or bank statements?

During a recent discussion about cash forecasting at NeuGroup’s Global Cash and Banking Group, one member asked if any of her peers had done demos of solutions from Cashforce.

  • Another member said his company had reached the point where Cashforce is “going to demo something” once an NDA is in place. “We have found them to be very open-minded,” the member said.
  • That’s important because his company has decided it does not want a forecasting system that relies on bottom-up analysis of data sourced from ERPs, in part because the company has “so many” different ERP systems and is “looking for an  AI, robotics approach” using top-down analysis.
  • He said that Cashforce has “been incredibly engaged” and willing to design solutions based on a bank statement model rather than ERP data.

Multiple approaches. This member described the company’s journey, saying, “We are taking on multiple approaches, some internal, some external, trying to figure out what’s most cost effective.”

  • “We’ve talked to a number of different companies and vendors; what’s worked for one company may not work for us,” he said.
  • The company, the member said, is “engaging all the fintechs out there” and has found that some are focused on ERPs while others understand this company’s preference for a bank account approach.
  • But as the economic effects of the pandemic mount, this member said his company is “growing wary” of fintech companies because of the impression that “cash is drying up in fintech land.”
  • He said he would love to use cash forecasting supplied by a TMS, but that the experience of using the module offered by his TMS vendor is “just ok.” Sound familiar?
Antony Michels

Author Antony Michels

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