Efficient and accurate cash flow forecasts are very difficult to achieve, in some ways they are the holy grail of working capital management.
In this WEBchat Nicolas Christiaen Managing Partner at Cashforce:
- Explains the six key steps and what to look out for
- Dives into detail about how to overcome the most difficult problem: Integration and consolidation of the data
- Gives his overall conclusion.
- Key timing points
- 0:45 Step 01 - Understand your working capital drivers
- 1:07 Step 02 - Understand your cashflow drivers
- 1:23 Step 03 - Define your forecasting horizons
- 2:39 Step 04 - Define your cash forecasting sources per time horizon
- 3:07 Step 05 - Integrate and consolidate the data
- 3:16 Step 06 - Define your cash forecast logics/assumptions
- 5:22 Manual v. Automated forecasting workflow processing
- 7:36 Systems integration in cash flow forecasting and audit trail processing
- 12:43 Overall conclusion
CTMfile take: These are the essential steps and processes to ensure that instead of battling the cash flow forecasting process corporate treasury departments are able to focus on the actual numbers in the forecast.
Cashforce - the bridge between treasury and business departments - raises funding
To support roll out in European market of their cash management platform which enables CFOs and Finance departments to drill down to cash flow drivers and use smart algorithms for pro-active optimization
Global cash forecasting - the CashAnalytics approach
Flexible control of the cash flow forecasting process to cut costs and improve accuracy
Cashflow forecasting: new opportunities for significant improvement
How Integrated Business Planning can overcome fragmented planning, budgeting, and forecasting processes to achieve highly accurate forecasts, and dramatically reduce time and cost