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Consider the case of a CFO who was grappling with cashflow management during an economic downturn. During the conversation, they were introduced to a treasury expert who had successfully implemented dynamic cashflowforecasting tools.
It allows buyers to manage their cash outflow more predictably, as they have a set schedule for payments to Orbian. This predictability helps with cashflowforecasting and overall financial planning. This safeguards the buyers cashflow and enhances working capital, all without requiring supplier participation.
“If you have to forecast, forecast often” (Edgar R. Need for reliable forecasts. Nobody could deny the importance of having accurate and reliable Cash-FlowForecasts (CFF). Often, we heard “ cash is king”. However, knowing if you will get cash and how much is even more important.
Major priorities over the next one to two years: We are not surprised that Cash-FlowForecasting comes out on top when the COVID crisis has been hitting us for the past year. The uncertainties surrounding the economy explain the difficulty in producing reliable and accurate forecasts.
However, those data attributes are critical when it comes to automatically reconciling incoming and outgoing payments, and for supporting cashflowforecasting. Larger, more established firms may have specific pain points to address, such as foreignexchange (FX) mismatches across several accounts.
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