Many treasurers do cash forecasts manually


Many treasurers attempt to resolve their risk management, liquidity issues, and other concerns using delayed processes that can be costly and time-consuming.

While 91% of these professionals use some form of cash flow forecasting, 72% manually collect and categorize data to do so, as shown in the “Digitizing B2B Payments Tracker”, a PYMNTS partnership with Deluxe.

Get the report: Digitization of B2B payment tracking

Using manual methods creates a vicious circle as treasurers risk making forecasts with outdated or inaccurate information which can compound their risk management and cash flow issues.

Appreciate new technologies

The adoption of new technologies is particularly important when companies seek to streamline and modernize their processes and systems.

Read also: Payments Firm Deluxe integrates with Q2 Holdings

Although Treasury departments have been enthusiastic about emerging technologies for several years, the industry has for some time suffered from a divide between the companies that say they are interested in these innovations and those that can actually develop and use them. That’s why a lot of treasury departments still rely on human employees to carry out complex processes like cash forecasting.

Yet new technologies aimed at improving the flexibility, speed, and transparency of payments have permeated Treasury departments for some time, and Treasury professionals have gained an appreciation in recent years for emerging technologies that can cut through this cycle, reduce costs and increase working capital. , although implementation has been relatively slow.

This gradual adoption of new technologies has been reinforced by the growing number of businesses and consumers turning to online services. Many customers now expect fast and seamless online services, and businesses are finding that manual processes can no longer keep up.

Integration of automated tools

Businesses are looking for technology that can help them meet new digital customer standards, but they still value the reliability of traditional payment methods like checks. Leveraging artificial intelligence (AI), application programming interface (API)-connected platforms, and other automation tools can speed up processes related to these payments without requiring businesses to put upgrade their infrastructure.

Each of these technologies offers unique advantages to support digital innovations. Automated tools can be integrated into treasury departments’ treasury management system (TMS) operations to tackle cash forecasts and determine risk, for example, while APIs allow businesses to send and quickly receive funds, client requests and sensitive information from partner institutions.

Departments are also interested in implementing additional payment options beyond checks. However, supporting various payment options requires significant changes to departmental TMS operations, which means companies will need to consider whether their core infrastructures can handle new methods and allow them to coexist with legacy solutions.

Companies whose treasury departments are quick to innovate will be more willing to satisfy existing customers and attract new ones. They will also reduce the cost and time required to respond to treasurers’ concerns.



On: Forty-two percent of US consumers are more likely to open accounts with financial institutions that facilitate automatic sharing of their bank details upon sign-up. The PYMNTS study Account opening and loan management in the digital environmentsurveyed 2,300 consumers to explore how FIs can leverage open banking to engage customers and create a better account opening experience.


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