How to Automate Cash Forecasting – A Case Study

Written by Keegan Chamberlin
September 23, 2021

Wrangling data is still one of the biggest challenges treasurers face today. Common cash flow management tools, like treasury management systems or treasury workstations, simply have not kept pace within an economy that is increasingly global and digital. These software options still rely on manual workflows that provide a cash position at a very specific point in time.

“Understanding cash trends and forecasts was a manual and tedious process for us. Just getting the data we would need from various systems was so complicated. Once we actually wrapped our hands around it, there really wasn’t time left to get meaningful insights from it.”

– Aurelia Sirbu, CFO at Orbus

Fortunately, there’s a better way to manage your cash flow. By digitizing their treasury with automated cash management, Orbus saved 10+ hours a week typically taken up by arduous manual workflows, giving back critical time to accomplish strategic objectives and propel their business forward.

The Challenge of Managing Cash Flow with Disparate Data Sources

Before digitizing their treasury with Trovata, Orbus, the market-leading national group specializing in displays, exhibits, banner stands, and architectural signage, relied on traditional methods to calculate and track their cash flow. 

Having to download their bank statements spread across the globe and manually consolidate and normalize that transaction data took its toll as Orbus had less time and resources to analyze trends and make the data useful. This time-consuming cycle ensured that Orbus couldn’t be as creative and exploratory within their reporting.

Orbus needed a solution to reduce their manual efforts while also providing better cash reporting capabilities.

Gaining More Control Over Cash Flow with Automated Cash Management

With Trovata, Orbus gained more control over their cash flow, which empowered them to:

  1. Automate the consolidation and normalization of all transaction data
  2. Discover insightful cash trends with automated cash reporting
  3. Prepare for the future with robust, automated forecasting capabilities

Automate the Consolidation and Normalization of All Transaction Data

Trovata’s Direct-To-Bank APIs established a direct connection between all of Orbus’ global bank accounts and their Trovata Platform, creating a future-proof, big financial data pipeline.Orbus’ finance and accounting team no longer has to manually collate bank data to gain their cash position at a specific moment in time. With Trovata, Orbus has achieved real-time cash visibility, amplifying their ability to make faster, data-driven decisions and discover new, valuable cash insights.

Discover Insightful Cash Trends with Automated Cash Reporting

“Trovata has saved me multiple times when I just needed a quick view of cash trends. I simply used my phone to login. It was so easy.”

– Aurelia Sirbu, CFO at Orbus

Orbus was hindered by their manual reporting processes within Excel. As powerful as it is, it was never designed to be a single source of financial truth for entire organizations.

Creating any custom reports used to require significant IT overhead, took weeks to complete, and leveraged old data. Trovata has enabled Orbus’ finance team to break free from prescribed reports with our comprehensive suite of automated cash reporting capabilities. 

Trovata’s AutoTag™ feature, powered by Artificial Intelligence and Machine Learning, automatically categorized and segmented transactions, enabling Orbus to generate cash reports automatically and discover rich, real-time cash insights that no human would ever be able to catch while manually creating reports.

Prepare for the Future with Robust, Automated Forecasting Capabilities

“Whether I’m in a conversation with our ownership group, banking partners, customers or vendors, it’s clear that owning the cash narrative for our business ultimately settles with me.”

– Aurelia Sirbu, CFO at Orbus

Owning the cash narrative has never been easier for Orbus. Trovata’s Advanced Scenario and Planning capabilities empowers Orbus with the flexibility to model and forecast around different business decisions and potential investments with enhanced user defined growth rates and variables.

Within any automated forecast, Orbus can update their reports with growth rates and variables to truly understand the impact of any change in the market or internal decision. They are prepared for any disaster scenarios and growth opportunities that arrive at their door and are able to easily articulate those plans with key stakeholders.

Own Your Organization’s Cash Narrative with Trovata

Like Orbus, you can eliminate tedious, manual workflows and gain real-time cash visibility with Trovata, our automated cash management platform. By establishing a single source of financial truth for your business, you can feel empowered and confident that you are making the right decisions for your business. 

You do not have to take on automating your cash flow management alone.

Sign up for Trovata for free to gain the real-time cash visibility you need to make more informed, data-driven decisions.

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