Ultimate Cash Management
On a daily basis, bank statements of various banks & banking formats can be read and loaded into the Cashforce platform. Within the platform, the cash positions of all different banks & banks accounts are displayed.
Cashforce offers the traditional approach of reading & analyzing bank statements and automatically classifies incoming/outgoing cash based on the MT940s. Cashforce will also perform a complete Bank Fee Analysis for each bank & bank account.
Allocation based on MT940 often offers only a limited granularity (incoming, outgoing, banking costs…), hence Cashforce has developed a more advanced approach. G/L based allication offers a deeper level of granularity than the MT940 allocation. Using a G/L allocation engine, bank statements will be enriched with entries originating from the general ledger (via a direct link with your ERP/Accounting system), increasing both granularity and relevancy of the allocation.
Cashforce will automatically reconcile information on the bank statements and data in the general ledger of your ERP system. The platform will automatically generate a daily reconciliation report. Any differences will be highlighted and communicated to the responsible person for resolution.
Cashforce also offers the option to manage new & existing credit facilities through the Cash Management module. It will be easy to oversee how many headroom is still available, as well as give a good overview of the credit facility usage over a selected period.
Predict the future more accurately
The Cashforce platform connect to all ERP/Accounting systems within your company. To speed up this process, Cashforce has developed ready-built ERP connectors that have a proven record of successful projects and enable swift and seamless integration between ERP systems and Cashforce. This seamless integration will ensure an automated feed of information (e.g. AP/AR) into the Cashforce platform to build an efficient cash forecast.
Besides ERP/Accounting data, Cashforce will also connect with other “cash-impacting” data that might reside in other systems, by integrating these systems as well.
Thanks to this system integration, cash forecasts are always available at any level of detail, whilst keeping the full drill-down capacity of the forecast.
Cashforce uses an intelligent forecasting engine to process the incoming data. By applying a layer of “Smart Logics”, the cash forecasts become significantly more accurate. Some examples of logics that might be taken into account:
- Timing of the Payment runs;
- Actual customer payment behavior (if relevant for some flows)
- Historical flows (if relevant for some flows)
- WIP (if taken into account)
Cashforce has a built-in workflow mechanism, making it possible for other persons to keep track of the cash flow forecasting process. Per reporting group, it is shown when and if a cash forecast of an entity has been uploaded in Cashforce. A detailed calendar is available to all Cashforce users & is managed by the organization’s HQ. The workflow management mechanisms also allows to set automated reminders & notifications.
Cashforce has a very powerful forecast vs. actuals comparison. Users are able to drill down to find the root cause of a potential delta and learn from these differences. Multiple forecasted scenarios can be compared to the actual flow to have an even better idea of where to improve.
The intelligent simulation engine helps users to gain insights in the future and model different scenarios by changing the underlying assumptions. By adapting these assumptions (e.g. changing payment terms of suppliers and clients, loans, historic payment behavior of clients, etc.), users will have an immediate idea of the impact on the future cash.
Reduce your working capital level
Cashforce offers insights in the Order-to-Cash, Purchase-to-Pay and Forecast-to-Fulfill processes, by connecting to your AR/AP data that resides in one or more ERP/Accounting Systems. By connecting to the data on transaction level, users are – at all times – able to drill down into the very details and hence have both an overview as well as all details at a glance.
Cashforce offers a wide range of KPIs, covering all aspects of your working capital. These KPIs can be reported on across various dimensions, e.g. per company group, per customer segmentation, per country, per client, etc. Based on the data within Cashforce, users are able to build their own reports and dashboards, including an automated reporting flow to other stakeholders within the organization.
Whether you are looking for more detailed insights on the AR side or the AP side, within Cashforce we offer far-reaching insights on your customer’s payment behavior and your own payment behavior, including visualizations per customer, per customer group, per region, etc. that immediately show where users should take actions to release the pressure of your company’s working capital.
Nothing like a classic TMS
Cashforce helps companies to automate their core treasury processes. To this extend, Cashforce automatically calculate the Treasury accounting entries originating from the different treasury deal instruments, as well as the account interest calculations. These accounting entries can then be exported in any format for import into the ERP system. A similar automation has been developed to facilitate treasury payments.
Cashforce will collect all known FX exposures from the Balance Sheet (gathered from Bank account balances, Internal/external loan & deposit balances, the balance of certain hedging items…) with the ultimate goal to review the current FX position vs exposure limits. The user will have different specific hedging proposals suggested to him, which can be uploaded to/integrated with your trading platform.
Whether you perform daily ZBA sweeps or have specific targets per bank account (target balancing), Cashforce will support you to optimize the cash that resides within all entities of your organization, by automatically generating a balancing proposal for all bank accounts. Allow your HQ/Shared Service Center(s) to act as an in-house bank: Cashforce will take care of all ICO transactions and keep track of the intercompany positions (including interest calculations).
Naturally, Cashforce also support users to input & manage different types of Treasury deals (Loans, Deposits, FX options/swaps/spots/forwards), including a back-office / front-office coordination & segmentation. Important to note is that all treasury flows will automatically feed into the Cash Forecasting module.
Get the most out of Cashforce. Select your role and learn how we can help you in
your work as a CFO or a Treasurer. With or without a TMS.