HSBC introduces cash flow forecasting service
HSBC Bangladesh has recently introduced an HSBC Cash Flow Forecasting tool that allows businesses to generate a more accurate view of their future finances and liquidity position.
The tool is accessed via the bank's digital banking platform, HSBCnet, providing clients with a single point of access for all their cash management needs, says a press release.
It is fully integrated, automatically loading data from a client's account, and can also work cohesively with the client's own systems.
This allows details of pending invoices or future-dated events to be added automatically, reducing manual intervention and significantly cutting the time taken to prepare a forecast.
The tool reduces engagement of resources in manual spreadsheet administration which is generally involved in cash flow forecasting to allow businesses to focus on higher-value generating activities.
It produces sophisticated cash forecasts covering a three-year horizon.
The modelling and scenario testing capability allow clients to create customised forecasts with ease.
Detailed variance analysis will highlight differences between forecasts and actual performance – meaning clients can spot cash surplus or deficits and further refine their forecasting accuracy.
"…it is more important than ever for Treasurers to have an accurate and timely forecast of their liquidity position," said Kevin Green, country head of wholesale banking at HSBC Bangladesh.
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