How is your treasury management team? Do they work well together, and is the financial reporting they offer you able to give you and your colleagues a vague idea of your cash flow forecast? If that is not the case, are you starting to feel like you need to have a cash flow analysis done on a daily basis in order to bring all the information from your various treasury management systems together? In other words, does your treasury department run as one solid group that has cohesive robust reporting, or do you have to piece the puzzles together yourself? The problem may not be your treasury department. It may be the software that you use to bring your treasury management systems together.
When you want real time cash visibility, with robust reporting, and a treasury management system that allows you to have keen risk management solutions, while still being able to meet your financial obligations using global controls, you cannot afford to have software that is out of date. Technology is constantly improving, and if your company is going to continue to realize profits, you have to keep up with it. How easily can you currently adjust your cash flow forecast to account for ongoing changes in global inflation, or within one specific area? Without real time financial reporting, it is impossible for you to keep your treasury management systems as active as they should be across multiple areas of your company. From investments and assets, to adjustments in use of international financial reporting standards, you need the software that has the capability to offer your treasury management team the resources they need to use business intelligence in order to provide you with the most current cohesive reports.