Cashflow Forecasting Software as Your Financial Companion

Cashflow Forecasting Software – Cashflow forecasting software refers to a set of tools designed to help businesses and individuals predict their future cash inflows and outflows. With the help of these tools, companies can plan for the future and make informed decisions regarding investments, expenses, and other financial matters. In this article, we’ll explore what the software is, how it works, and the benefits it provides to businesses and individuals.

Even though cash flow forecasting is a priority for most treasurers, it also comes with some challenges. One of the main challenges is struggling to consolidate cash flow data from different systems efficiently. Many treasures are still manually collecting cash flow forecast data from multiple source systems into Excel – this process is inefficient and prone to error.

To help streamline the cash flow forecasting process, companies opt for a solution that can help automate data consolidation and some solutions even put the data in the proper reporting formats. But with so many solutions on the market, which one should you select? And what do you need to consider when choosing one? We have listed some recommendations and our top 5 best cashflow forecasting software for 2023.

  1. Nomentia

Normentia is a company from Finland with offices all over the world. Treasury and cash management services are available, but you’re only required to pay for the modules you actually use. Automatic cash flow forecasts are generated by Nomentia Cash Flow Forecasting, which consolidates global cash flow data from all of your groups and systems (ERP, banking, treasury management, balance sheets, and profit and loss statements).

In order to make the most precise cash flow forecasts, Notion employs predictive analytics, seasonality trends, and industry indices. TBATS, Support Vector Machine, Linear Regression, Prophet, Bayesian Structural Time Series, Feedforward Neural Networks, XGBoost, and Robust Linear Regression are just some of the prediction models provided by Nomentia. 

There is full flexibility in terms of reporting format and customization options for all cash flow projection data. The resulting information can be broken down to the smallest of details, such as a single transaction.

  1. Kyriba

Kyriba is a company based in the United States that provides treasury management as cashflow forecasting software. Kyriba’s cash and liquidity module includes a cash forecasting feature that can be used by customers to create and analyze cash forecasts on a variety of timescales, including daily, weekly, monthly, and yearly. 

They compile information from numerous resources, such as routine purchases, enterprise resource planning (ERP) databases, and historical documents. In addition, the accuracy of future projections can be enhanced by comparing them to past results.

  1. Coupa Software

Coupa Software is headquartered in the USA. As part of a larger suite of treasury services, they provide forecasting. With Coupa’s solution, you can make short-, intermediate-, and long-term liquidity projections, as well as generate and evaluate multiple alternative scenarios and compare actual results to predetermined targets. More than that, the app brings together projections from across the entire team.

  1. Serrala

Founded in 2012, Serrala calls Germany home for its main office. There are a variety of options for treasury management provided by these firms. The cash management and cash forecasting module of the cashflow forecasting software provides consolidated visibility into current and projected cash flows from multiple sources. Categories for scenario and simulation planning, as well as cash flow-based planning, are made possible by the solution.

  1. CashAnalytics

Ireland is the home country of CashAnalytics. Cash flow forecasting is one of their most effective solutions. You can easily model and drill down into data within various reports and dashboards by combining the pertinent data from various spreadsheets, banks, and ERP systems. The short- and medium-term time periods are covered by the cash projection timeframe.


Benefits of Cashflow Forecasting Software

  • Improved Decision Making: Businesses can make more informed decisions about their finances by predicting future cash flows.
  • Increased Accuracy: The software eliminates the guesswork and improves the accuracy of financial projections and can create more accurate projections than manual methods.
  • Real-Time Insights: With real-time data updates, it provides real-time insights into a company’s financial situation.
  • Increased Collaboration: Can be accessed and used by multiple users within an organization and increased collaboration.
  • Time Savings: Businesses can save time and reduce the workload associated with manual forecasting methods.
  • Better Budget Planning: By providing accurate and up-to-date information about cash inflows and outflows, cashflow forecasting software helps businesses plan their budgets more effectively.

With its ability to collect and analyze financial data, create accurate projections, and provide real-time insights, the software can help companies make more informed decisions and plan for the future. Whether you’re a small business owner or a financial professional, cashflow forecasting software can help you achieve your financial goals and stay on track.