Automated Cash Management for Treasurers

Written by Trovata Team
May 12, 2021

The objectives of automated cash management are simple: control cash flows, maximize liquidity and the value of business funds and minimize costs overall. Proper cash management is critical to creating and sustaining a company’s financial position.  

For the treasury department, this means: 

  • Ensuring the availability of financing
  • The administration of debts
  • Ensuring good relationships with banks
  • Monitoring accounts payable and receivable
  • Controlling foreign currency
  • Securing interest positions for financing needs
  • Reporting technical support for all of the above

In addition, inaccurate data is one of the most significant challenges the treasury faces. The ability to have an accurate, real-time screenshot of a company’s finances reveals its financial health, supports cash forecasting, and dictates the best way to optimize working capital.

That’s where automated cash management comes in.

What is Automated Cash Management?

Automated cash management bridges your company’s accounting system and its bank. It alleviates the need to collate data from internal systems and multiple banks manually and takes the guesswork out of analyzing large datasets and manually monitoring transactions.

It also guarantees that everyone in your organization is up-to-date with the latest and most accurate data available, driving better cash management and decision-making across the board.

7 Benefits of Automated Cash Management for Treasurers

  1. Simplified record keeping with the automated capture of data from internal systems and interrelated transactions.

  2. Ensured compliance with local and global financial regulations and standards by improving transparency and accountability.

  3. Improved visibility with centralized transactional data that provides insight into cross-currency transactions and multiple payment channels.

  4. Consistency of data sharing as all departments have access to the same source.

  5. Ability to visualize business risk in real-time, thus eliminating risk factors associated with important decisions.

  6. Improved cash forecasting accuracy to enable data-powered decision-making.

  7. Centralized cash management from a single platform. 

The benefits of automated cash management begin with having real-time data on hand. From there, the ability to identify, measure, and develop solutions for managing financial risks is simple, as is gaining control and insight into transactions.

Next Steps 

In addition to your company’s daily processes, strategic activities like managing risk, compliance regulation, and forecasting are imperative to the health and growth of any organization.

Free up valuable time by employing Trovata’s automated cash management platform today!

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