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Lockstep: Connecting Disparate Accounting Processes

Top 10 Cash Management Solution Companies - 2021

The unabated spread of the coronavirus has resulted in an unprecedented health catastrophe and triggered a massive financial crisis on a global scale. Amidst this chaos, digitalization of cash management processes has been the top agenda of treasury and cash management professionals to improve cash flow visibility and strengthen B2B payment security. In order to increase the efficiency of cash flow management, organizations are readily adopting technologies including Artificial Intelligence (AI), Machine Learning (ML), data analytics, and business intelligence. They need to prepare financial forecasts wherein predictive analytics can play a critical role by anticipating impacts of COVID-19 and managing cash flow through the current challenge. Organizations are adopting big data and analytics capabilities blended in cash flow management solutions to gain financial insights and prepare for the future.

Cash management solutions enable treasury management teams to manage their payments processes quickly and efficiently irrespective of location, currency, bank, or enterprise resource planning systems. By utilizing a cash management solution, organizations can reduce banking fees for cross-border payments, payments across multiple vendors, and more. Businesses are interested in cloud-based cash management solutions owing to their multiple advantages, such as low operational expenses, ease of deployment, improved scalability, and integration. The increasing adoption of smart safe cash management solutions across various end-uses is anticipated to fuel market growth as they help businesses overcome cash handling and storage issues. These technologically advanced safes streamline and increase efficiency in the overall cash management process.

To this end, there is a wide variety of solution providers emerging in the industry with a set of advanced cash management solution offerings. To help companies navigate through the best-of-breed cash management solution providers, CFO Tech Outlook has compiled a list of “Top 10 Cash Management Solution Providers 2021.” The enlisted organizations offer cash management solutions that automate and optimize working capital, accurately forecast cash flow, and mitigate and prevent fraudulent activity. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs.

We present to you CFO Tech Outlook’s “Top 10 Cash Management Solution Providers - 2021.”

    Top Cash Management Solution Companies

  • Award-winning Lockstep helps businesses create a connected workspace for accounting teams and supplements it with AR automation. At the core of Lockstep’s solution suite is an award-winning AR automation solution. Offering a slew of functions, including robust dashboards and reporting, Lockstep gives businesses complete visibility to cash flow, team performance, and customer adoption. Further through a combination of automated customer self-service modules, online payments modes, and payment collection activity management, Lockstep makes it easier and faster for the accounting team to optimize the cash flow. As a result, by leveraging Lockstep’s platform, businesses can automate a multitude of AR tasks based on complex rules and logic to reduce DSO and increase working capital. Going the extra mile, the company also offers Lockstep Inbox—another noteworthy solution—that centralizes all the communication tasks for the accounting teams with defined traceability

    lockstep.io

  • Bottomline Technologies, Inc.

    Bottomline Technologies, Inc.

    Bottomline Technologies provides e-payment, invoice, and document automation solutions to financial institutions, corporations, and banks

  • Broadridge Financial Solutions, Inc.

    Broadridge Financial Solutions, Inc.

    Broadridge’s solutions help banks and financial institutions transform and streamline their banking and payments infrastructure

  • Cashbook

    Cashbook

    Cashbook develops cash management software solutions with an aim to automate cash management transactions

  • Finastra

    Finastra

    Finastra provides best-in-class payments solutions to assist businesses in meeting market challenges, allowing them and their customers to manage cash, process payments, exchange information, and transfer funds cost-effectively, securely, and accurately within and across national boundaries

  • Hyosung America

    Hyosung America

    Hyosung provides end-to-end cash management solutions for all sizes of banks, credit unions, and retailers

  • Logicpath

    Logicpath

    Logipath’s C3 Financial is an award-winning cash inventory management software that enables users to accurately forecast and order cash while optimising inventory levels across the enterprise

  • Morphis

    Morphis

    Morphis, Inc. is a pioneer in the provision of cash processing software and currency supply chain logistics

  • Paystand

    Paystand

    Paystand’s mission is to build an open commercial finance system, beginning with B2B payments

  • Sage

    Sage

    Sage specializes in integrated accounting, payroll, and payment systems, enabling the world’s entrepreneurs to achieve their goals