What jobs does CashAnalytics do for JOST?
CashAnalytics supports two key processes in JOST, daily cash reporting and weekly liquidity forecasting.
1. Daily Cash Reporting & Actualisation
Statements for over 150 bank accounts from all banks flow directly into CashAnalytics every morning. This gives Richard and his team a quick overview of balances, currencies and excess liquidity at the start of the day. “This is the starting point for the first activities of the day or discussion for the upcoming days” said Richard.
CashAnalytics also automatically maps actual transactions to reporting categories which in turns flows directly into their liquidity plan. This provides a categorised view of cash flow alongside cash balances, to the JOST treasury team, every day.
2. Weekly Cash and liquidity forecasting
JOST also operates a 12 month rolling cash flow forecast in CashAnalytics. Describing the process, Richard said, “Every week, controllers in each of our 30 business units update their forecast, weekly for the next three months and monthly for the following nine months, in over 20 currencies, directly in CashAnalytics”.
Alongside streamlining the capture of cash forecasts from business units, the system tracks intercompany movements units and consolidates of all of the cash flow data into a single liquidity forecast. The head office treasury team experience no manual effort in the management of its forecast, every week.