Top 4 Ways Automated Cash Flow Management Empowers You with Incredible Insights Into Your Business

Written by Keegan Chamberlin
October 22, 2021

In our fast-moving, digital world, geopolitical threats or new changes within the economy can throw off your business operations quickly. As COVID-19 has demonstrated last year, threats can arise at anytime and those organizations who do not have a daily-updated view of their cash flow and position may be unable to adapt their cash flow management strategy quick enough to respond to unexpected changes in cash flow.

Exposure to risk begins to rise, and these organizations could find themselves in jeopardy of experiencing financial losses or a major cash crisis, leaving them to scramble for a solution. 

As you may have experienced, many treasury departments have been held back by legacy treasury management systems that have been around since the 1980s.

While these legacy systems promise to automate the consolidation of bank data, manual intervention is often required. And by the time your data is manually consolidated and normalized, you are making predictions based upon yesterday’s data.

There’s a better way to manage your business. Enter Trovata.

The Power of Automating Your Cash Flow Management and Forecasting with Trovata

Trovata, our automated cash management platform, was built with the intention of future-proofing your cash and transaction data. Trovata bridges the gap between your cash management platform and your global banks by establishing a data lake with Direct-To-Bank APIs.

These Direct-To-Bank APIs automatically consolidate and normalize your bank accounts across multiple bank accounts, providing you the daily cash insights needed to run your business efficiently. No more spreadsheets or manual intervention is required to collate your cash and transaction data in one secure platform.

Establishing a data lake with Direct-To-Bank APIs not only empowers you with up-to-the-hour transactions and cash balance details, it empowers you with a comprehensive suite of automated cash reporting and forecasting functionality. Machine learning algorithms analyze this data and display it in a data visibility layer, enabling a level of analysis just not possible on legacy systems. For the first time ever, treasurers can now leverage high-quality, daily cash insights on-demand.

These advanced forecasting capabilities empower your team to leverage these cash insights in order to:

  1. Explore New Opportunities to Break Free from Prescribed Reports
  2. Leverage Tags to Automatically Track and Segment Groups of Transactions
  3. Utilize Scenario Planning to Answer Potential “What-If Scenarios”
  4. Truly Know the Story Behind Your Forecasts Vs. Actuals

Explore New Opportunities to Break Free from Prescribed Reports

TMS’s legacy architecture hinders data exploration due to the inflexible nature of its reporting and forecasting tools. Any custom reporting requires significant IT overhead, likely takes weeks, and in the end leverages old data.  Additionally, these custom reports can only be utilized for specific use cases.

Your cash management platform should encourage you to explore and personalize your reporting to find new cash insights and opportunities that provide value to your organization. If your current treasury tech stack requires you to perform arduous manual labor to discover these insights, your tech stack is holding you back from gaining instant and accurate cash visibility.

Leverage Tags to Automatically Track and Segment Groups of Transactions

Trovata’s Natural Language Search and AutoTag™ open up a level of dynamic and daily reporting treasurers have never had access to before.

With a simple natural language search, you are provided transactions from key vendors, institutions, transaction-types, and more rich drill downs within milliseconds. These custom searches can be saved as tags, which can be leveraged for any future cash reporting, analysis, and forecasting.

Tags transform cash reporting and forecasting into an incredibly delightful experience due to how easy it is to discover in-depth cash insights in minutes. 

And with this ease of forecasting, you truly can analyze, monitor, and plan for each business at its specific level and better understand each facet of your organization.

Utilize Scenario Planning to Gauge the Effects of Potential What-If Scenarios

Geopolitical threats, navigating a changing economy, emerging growth opportunities, and the consideration of entering new market segments all bring unexpected changes in cash flow. Scenario planning transforms these unforeseen circumstances into cash flow management plans that can be implemented quickly as these situations arise.

Trovata allows you to apply growth rates and variables to your automated forecasts, empowering you to easily and accurately forecast around changing scenarios, business decisions, and potential investments. This way, you are prepared for any disaster scenarios and growth opportunities that arrive at your organization’s door.

Truly Know the Story Behind Your Forecasts Vs. Actuals

Without access to cash insights that are updated daily, automated reporting, and forecasting capabilities, it’s difficult to eliminate your cash visibility gap so you can begin to piece together the story behind changes in your cash position and cash flow. Your reporting and forecasting tools must not only be accurate, but be able to display the difference between your forecasts vs. actuals.

Trovata, our automated cash management platform, empowers you to quickly create personalized dashboards with generated forecasts that paint a picture of your organization’s health. These customizable dashboards enable you to discover new growth opportunities and articulate those opportunities with data-driven reports, thus empowering you to become a value-add partner to your CFO.

Gain Powerful Cash Insights Into Your Business with Trovata

You do not have to take on these cash flow management plays by yourself. Trovata, our automated multi-bank cash management platform is here to help! 

Download the Cash Management Playbook to learn how you can easily eliminate tedious, manual workflows required to bypass traditional TMS limitations and better monitor, analyze and automate your cash reporting, forecasting, and workflows with Trovata.

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