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.”