Key differentiators in cash flow forecasting systems and services are:

• whether they prompt and pull the forecasts from the subsidiaries and operating units or just rely on them to send in the forecast data
• ease of collecting forecasts and other data from the business units in the organization, from their ERP systems - accounts payables and receivables, and budgeting systems
• efficiency of integrating bank balance and transaction data into current position and cash flow forecasts
• ease of use including all operating, investment and financing cash flows
• speed of updating forecasts when data is received (some systems already do this in real-time)
• clarity and flexibility of the cash flow forecast reporting including analyses by bank account, country and currency
• ease of analysis of the underlying business flows and seasonal cycle
• availability of audit trails and functionality to export data to other systems or services, e.g. to treasury management system and to Excel
• flexibility to incorporate new users, companies and types of business
• range of charging options including, outright purchase, license, or via hosted services / ASP delivery.

When selecting a cash flow forecasting system or service:

• take into account the needs and drivers of all parties - the treasury team, the cash managers and operating managers in subsidiaries, financial controllers, and the CFO and CIO
• develop an outline of how the forecasting process should operate before you begin comparing and selecting a cash flow forecasting system or service.