Pushing the boundaries of treasury technology, Cashforce is launching a brand-new cash flow forecasting platform, set to be released by end of Q1 2021. Nicolas Christiaen, the company’s CEO and Co-Founder, explains how this next generation solution will enable real-time data processing, interconnectivity with best-of-breed treasury technology providers, and lower the barriers to entry for corporates wanting to leverage forecasting software.
Eleanor Hill, Editor, TMI (EH): Why is now the right time to be launching a new platform? What’s driving this change?
Nicolas Christiaen (NC): First, let’s take a little step back. As a company, we have been active in the cash flow forecasting space for five years now. When we started out, we noticed a blind spot in the treasury technology industry – and wanted to create a targeted solution to help treasurers address that specific need.
We began this journey from a working capital analysis point of view and built our cash forecasting capabilities on top by linking to corporate enterprise resource planning systems [ERPs]. In fact, one of our main differentiators has always been our ready-built ERP connectors which ensure a seamless flow of granular data into the platform in order to build a more accurate forecast.
Our current platform works very well, but the market around us is constantly evolving and we want to be one step ahead. Over the years, we have accumulated expertise around different approaches to short- mid- and long-term forecasting, connectivity with different ERP’s and treasury management systems [TMSs], designing sustainable workflows and integrating technologies such as artificial intelligence [AI] and machine learning [ML]. We wanted to leverage this knowledge alongside future-facing technologies such as application programming interfaces [APIs], to create a new platform that is state-of-the-art and capable of consuming billions of transactions in real-time.