ION has announced the launch of a cash forecasting solution powered by machine learning. The solution is designed to help organisations of all sizes to validate or replace manual cash forecasting with improved speed and increased accuracy.

“Machine learning has the potential to revolutionize the treasury industry by providing vital strategic insights on an organization’s cash management and forecasting,” commented Rich Grossi, CEO of ION Treasury. “Community data helped us reveal insights you simply can’t get from a single user.”

“By using historical data, the solution has the potential to create cash forecasts more quickly,” said Peter Radtke, head of Corporate Finance and Treasury at KUKA AG, a supplier of intelligent automation solutions. “Even atypical and seasonal cash movements should be able to be accurately predicted in this way.”

Cash forecasting is only one aspect of the machine learning programme at ION. The firm is currently developing solutions to reduce the implementation costs and time-to-market of a treasury management system (TMS).