Cashforce, a leading Cash Forecasting & Working Capital Analytics software provider, has announced it is launching “Cashforce NextGen,” a new software platform leveraging years of experience in delivering data-driven cash forecasting.
With this new platform Cashforce wants to lower the barrier of entry for cash flow forecasting by introducing real-time data processing, a more intuitive user experience, enhanced scenario building capabilities and more AI-powered-algorithms. Cashforce NextGen will be launched early 2021.
These developments are also driving Cashforce’s partnerships. "Last year Citi partnered with Cashforce because of the increasing corporate demand for improved cash visibility, accurate cash forecasting, and effective working capital management,” explains Ron Chakravarti, Managing Director and Head of the Treasury Advisory Group at Citi’s Treasury & Trade Solutions.
“Today’s market conditions highlight the need for better and faster decision-making. Cashforce NexGen will further support clients with improved decision-support and automation.”
“Through years of experience in cash flow forecasting at organizations with various complexities, we’ve learned that the perfect solution should be able to adapt to the client’s maturity in order for them to scale their cash flow forecasting process at their own pace,” says Cashforce CEO Nicolas Christiaen. “Our NextGen platform will allow global & local users to start forecasting using an easy workflow and then perfect their process gradually using system integration capabilities, real-time data processing and smart alerting functionality. Simply said, Cashforce NextGen will deliver a swiss army knife for modern day cash forecasting.”
Current Cashforce users are excited about the upcoming NextGen platform. “Thanks to Cashforce, we were able to analyze a lot more data at a higher quality than we had ever been able to before,” says James Kelly, Group Treasurer at Pearson. "Cashforce boosted our cash forecasting process with AI-powered algorithms and scenario-building capabilities generating significant savings in annual borrowing. With the NextGen platform, I’m most excited to use real-time data to improve the accuracy of our scenario models even further.”
The NextGen platform is being built in conjunction with clients and prospects (through an Early Adopter Program), including a top-tier treasury advisory firm, and a leading global bank. The first rollout is scheduled for early 2021.