Cashforce NextGen: The future of cashflow forecasting

Summary

In this web chat, Nicholas Christian, CEO and co-founder of Cashforce, discusses the evolution of cash flow forecasting and the launch of their next-generation platform. Emphasizing real-time data, machine learning, and API-enabled integration, the platform aims to lower barriers to adoption while maintaining advanced capabilities. Key features include an Excel-like interface, scenario planning, smart alerts, and audit trails, designed to make structured cash flow forecasting mainstream. The early adopter program invites select corporates to test and influence the platform ahead of its Q1 2021 launch, reflecting Cashforce’s commitment to user-centric innovation and efficient treasury management.

Takeaways

• 💡 Cashforce, founded in 2012, provides cash flow forecasting and working capital analytics for finance and treasury departments.
• 🚀 The next-generation platform is being developed to adapt to changing market conditions and simplify cash forecasting for users.
• 📊 Real-time data processing is a key feature, enabling the handling of millions of transactions efficiently.
• 🔗 The platform has a full API-enabled architecture to connect with ERPs, TMS, bank systems, and execution platforms.
• 🤖 Machine learning capabilities are being expanded to improve predictive cash forecasting and unlock untapped potential.
• 🖥️ User experience focuses on an Excel-like interface, industry-specific templates, workflow management, and smart notifications/alerts.
• 📈 Scenario planning is enhanced, allowing users to build complex, collaborative forecasts and analyze actuals versus projections.
• 📝 Every transaction and adjustment is audit-trailed, ensuring transparency and traceability of all forecasting changes.
• 👥 An early adopter program allows corporates to test the platform, influence the roadmap, and provide feedback before the official launch.
• 🌍 Cash flow forecasting is not yet mainstream in a structured, process-driven way, and the platform aims to lower the barrier for adoption.
• ⏰ The early adopter program is in Q4 2020, with the full launch planned for Q1 2021.
• 🏆 The primary goal is making cash forecasting accessible, scalable, and integrated into business processes, enabling organizations to grow in forecasting maturity.

Q & A

What is CashForce and what services does it provide?

CashForce is a platform established in 2012 that provides cash flow forecasting and working capital analytics, helping finance and treasury departments optimize financial planning and decision-making.

Why is CashForce developing a next-generation platform?

The next-generation platform is being developed to address changing market conditions, enable real-time data processing, enhance integration with other systems, and lower the barrier for entry to cash flow forecasting.

What does 'lowering the barrier for entry' mean in the context of CashForce?

It refers to making cash flow forecasting easier to adopt by providing an Excel-like interface, supporting industry-specific templates, and allowing users to start forecasting without complex ERP integration.

How does CashForce plan to utilize machine learning in its next-gen platform?

Machine learning will be used to enhance forecasting accuracy, analyze patterns in data, and unlock untapped potential in cash flow prediction and decision-making processes.

What improvements in user experience are being introduced in the next-gen platform?

The platform introduces an intuitive, Excel-like interface, workflow-driven forecast posting, smart notifications and alerts, and scenario-building capabilities to simplify data input and adjustments.

What are the scenario-building capabilities and why are they important?

Scenario-building allows users to create complex, collaborative forecasts that handle uncertainty in the market and internal processes. This helps companies plan for different outcomes and analyze actuals versus forecasts.

How does the next-gen platform handle traceability of forecast changes?

Every change to transactions or forecasts is tracked with an audit trail, ensuring transparency, accountability, and the ability to understand why specific adjustments were made.

Who can participate in the early adopter program and what are its benefits?

High-exposure corporates that meet qualitative and quantitative criteria can participate. Benefits include trial access to the platform, influence on the product roadmap, and close collaboration with CashForce.

What is the current state of cash flow forecasting adoption in organizations?

While many companies practice cash flow forecasting to some extent, only 20–30% use a structured, process-driven, and integrated approach, which the next-gen platform aims to mainstream.

What is the timeline for the early adopter program and official launch?

The early adopter program takes place in the last quarter of 2020, with the official platform launch planned for Q1 2021.

What makes the next-generation platform state-of-the-art?

It features API-enabled architecture for system integration, real-time data processing, advanced machine learning algorithms, industry-specific templates, and workflow-driven processes for a comprehensive, modern forecasting solution.