Though disruptive at first, the coronavirus outbreak has become a catalyst for CashAnalytics to accelerate the refinement and expansion of the support we provide our clients across the globe.
Like all businesses, CashAnalytics had to quickly adjust to life working from home, which meant creating new, viable processes that would enable us to not only re-establish team cohesion but also guarantee our availability to customers during such an uncertain period.
By using communication tools, such as Slack and Zoom, we’ve maintained an excellent stream of internal and external communication and, thankfully, our day-to-day operations are running as normal.
Connecting to Clients Globally
Large, complex multinationals in more than 40 countries are connected to our cash management and liquidity reporting cloud-based platform, so providing support remotely is a core component of the CashAnalytics service.
However, this crisis situation has given us cause to build on our bedrock practices and to further strengthen the relationships we enjoy with our clients.
- 6 Ways to Simplify Frequent Cash Flow Re-forecasting
- Responding to COVID-19: Cash Management in a Crisis
- Customer Journey: Sulzer
We’ve also updated the methods traditionally employed to remotely onboard new clients. This has involved increased communication during the implementation phase, working with technology tools approved by their IT department, and quickly changing system configurations to deliver greater visibility.
By intensifying focus on short-term priorities and engaging with additional internal teams, we’ve enabled these companies to fully leverage the CashAnalytics platform in the most timely manner possible.
These processes were initiated by first reaching out to all our existing customers and offering them any extra support, technical and/or advisory, that could be of benefit.
Enhanced Short-Term Cash Flow Visibility
And, given that cash and liquidity management is of such critical importance at this juncture, we’ve been delighted to have our customers avail of this additional assistance during what is a rapidly evolving macroeconomic situation.
Companies now require the clearest possible picture of their current cash positions, and we’ve worked very closely with a number of our clients to give them the enhanced visibility they need in this time through CashAnalytics.
In some cases, the weekly forecast models are further broken down into daily segments, at least for the first week, which allows for an enhanced focus on the very immediate future.
Responsive, Fast, and to the Point
A prime example is our long-standing customer Sulzer, a Swiss fluid engineering conglomerate, whose head office treasury team must consolidate and centralize forecasting data from more than 100 reporting entities.
Their senior management requested that we update their forecasting process to provide the greater granularity required to regularly perform actual versus forecast analyses.
According to Sulzer’s Senior Treasury Manager, Alex Sika, our agility in delivering on this request was a timely reminder of the parallels between the two companies.
“What CashAnalytics did was just very responsive, fast, and to the point,” he said.
“And that’s how we know CashAnalytics: Not surprised by our requests, but alert and open to such things. Their input led to the solution we had, and we are glad to have a partner who thinks along the same lines as we do.”
Greater Focus on Data
Other customers have found supplementary uses for our reporting and analytics tools, as many C-suites now have different reporting requirements. There is an onus on greater precision and frequency, detailing critical indicators, and an expectation that these reports will be delivered in a manner befitting the current situation.
We’ve also had occasion to restructure reporting hierarchies – a modification that serves to streamline the focus on specific reporting outputs.
Subsequently, CashAnalytics has created several new dashboards, which present all data graphically – from headline figures down to line items – so our clients can deliver custom reports to their CFOs and other senior stakeholders faster than ever before.
Our Commitment to Service
There is no telling when the coronavirus will be suitably contained for the resumption of what was regular life just six weeks ago. The times have certainly changed, but the core objectives of CashAnalytics remain the same.
We’ll continue to build trust with our clients through excellent communication, transparency, honesty, delivering on our promises, and ensuring they consistently gain maximum value from our forward-looking financial tool.
Why Companies Automate Cash Forecasting
Automating the cash forecasting process increases efficiency and accuracy and enables easier and faster access to vital cash and liquidity data.Tom Rooney - May 25, 2020
How to Extend the Cash Flow Projection Horizon
Successfully extending the cash flow projection horizon requires serious thought and planning.Tom Rooney - May 14, 2020