Search
 
Best Practices

Best Practices for Cash Forecasting Processes

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

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Stock illustration: businessman on weather vane

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.

Dig Deeper

 

Recommended Stories

Navigating the Inflation Headache

Navigating the Inflation Headache

Jason Celente |

Inflation has emerged as one of the key concerns of business leaders. Grappling with rising prices may require innovations in cash management.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2022 ALM Global, LLC. All Rights Reserved.