4 Ways to Transform Your Strategic Planning & Analysis with Automated Cash Management

Written by Keegan Chamberlin
August 12, 2021

When your treasury management tech stack still requires you to manually consolidate and normalize your bank data, analyzing key reports and discovering rich, cash insights is done in a limited time. This can have a significant impact on the business as companies that can analyze, report on, and forecast cash faster and more accurately than their competition have a significant competitive advantage.

These companies have an easier time taking advantage of growth opportunities, reducing their working capital, and coping with downturns than the competition.

You don’t want to be at a significant competitive disadvantage compared to your competition when discovering potential growth opportunities. By transforming your strategic planning & analysis with automated cash management platforms, you and your team can feel empowered to save 10+ hours a week on manual reporting and better utilize that time to accomplish strategic objectives and analysis that bolster your organization’s bottom line.

Freely Explore Your Data and Easily Customize Reports within a Modern, No-Penalty Environment

You could be missing critical cash insights that help you make more accurate, strategic decisions due to treasury management system reporting and forecasting limitations. Simply put, TMS’s legacy architecture hinders data exploration because of inflexible reporting and forecasting capabilities. As a result, any custom reporting requires significant IT overhead, likely takes weeks, and in the end leverages old data. 

Trovata, our automated cash management platform, empowers you with a comprehensive suite of automated cash reports and forecasts built upon up-to-the-hour transactions data aggregated across all your bank accounts.

Machine learning algorithms analyze your transactions to segment and AutoTag™ them into datasets that can easily be used to generate custom reports and forecasts. These automations empower you to get back the 10+ hours in your week you typically reserve for manual reporting, so you can focus on drilling into your data in order to discover new cash insights and investment opportunities that drive your business forward.

Sharing your cash insights, reports and forecasts with key decision-makers is easier than ever. Trovata comes equipped with drag-and-drop, customizable dashboards that can be automatically set to key decision-makers’ inboxes on a regular occurrence. And for those cases, it’s useful to export your data to the spreadsheet of your choice. Trovata’s Grid Mode™ enables you to copy and paste any of your normalized data right from Trovata’s data studio into any spreadsheet you’d typically use.

Trovata has eliminated the frustration of custom reporting, and truly makes it a joy to explore your data and discover cash insights in real-time.

Drill Down and Forecast for Subsidiaries to Analyze and Plan at Each Level of Your Business

Automated cash management platforms, like Trovata, make it easier than ever to discover more profound insights into your subsidiaries, vendors, and banking partners. With a simple natural language search, you are provided a group of transactions from your subsidiaries, enabling you to analyze at each stage or your business or in one aggregated view.

You are able to generate precise forecasts that empower you to understand each facet of your organization better. With a legacy TMS, just consolidating and normalizing these transactions leads to an increase in manual reporting cycles.

With Trovata, generating these forecasts only takes a few searches to begin automatically categorizing and transforming these transactions into meaningful insights that drive more accurate decisions.

Create Contingency Plans with Advance Scenario Planning

A slowing economy, emerging growth opportunities, and geopolitical threats bring unexpected cash flow changes. Scenario planning transforms these unforeseen circumstances into contingency 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 quickly and accurately forecast around different scenarios, business decisions, and potential investments. These forecasted scenarios support your cash management contingency plans by explaining why your organization’s cash flow is changing and how your organization should best respond to those changes. This way, you can have a plan for any worst-case scenarios and growth opportunities that present themselves.

Know the Story Behind Your Forecasts Vs. Actuals to Clearly Articulate Your Position to Key Stakeholders

Without access to real-time cash insights, automated reporting, and forecasting capabilities, it’s challenging to eliminate your cash visibility gap to piece together the story behind changes in your cash flow and position. Your cash reports and forecasts must not only be accurate, but be able to display the variance between your forecasts vs. actuals.

Transform Your Strategic Planning & Analysis with Trovata

By aggregating your cash and banking information into a single dashboard using Trovata’s Direct-To-Bank APIs, you can eliminate tedious, manual workflows overnight and gain 10+ hours back to focus on strategic planning and analysis that drives your business forward. 

Download our Cash Management Playbook to learn how you can transform your cash management strategy with rich cash forecasting and reporting automation tools and begin to make faster, more accurate data-driven decisions.

Now, you can get started today with Trovata for free!

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