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Best Practices for Cash Forecasting Processes

4 areas of forecasting in which most treasury teams have lots of room for improvement.

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Late last year, Strategic Treasurer released a “Cash Forecasting & Visibility” survey that found corporate treasury teams are eager to modernize their cash forecasting capabilities.

Collecting the opinions of approximately 250 respondents from across the global treasury landscape, the survey captures a push by treasury professionals to harness modern technologies and practices in pursuit of more efficient, accurate, and complete visibility into their cash flows. Fifty-nine percent of survey respondents said their organization is placing increased importance on cash forecasting this year, while 27 percent went as far as to call it a “significantly important” focus for 2022.

However, almost half of those surveyed also describe their organization’s current process for generating forecasts as either “somewhat difficult” or “extremely difficult.” Many expect to leverage emerging technologies to reduce that pain. Although only 6 percent of surveyed treasury professionals leverage artificial intelligence (AI) and/or machine learning (ML) in their cash forecasting today, 51 percent plan to be using these tools within the next two years.

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