The service will enable customers to manage their liquidity efficiently. HSBC Bangladesh has recently introduced the HSBC Cash Flow Forecasting tool, a fully-integrated forecasting solution allowing businesses to generate a more accurate view of their future finances and liquidity. It is accessed via the bank’s digital banking platform- HSBCnet, providing clients with a single point of access for all their cash management needs, said a press release. The tool is fully integrated – automatically loading data from a client’s account – and can work cohesively with the client’s 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 the 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.
HSBC’s Cash Flow Forecasting tool produces sophisticated cash forecasts covering a three-year horizon. In addition, the modeling and scenario testing capability allows clients to create customized forecasts easily. Detailed variance analysis will highlight differences between projections and actual performance – meaning clients can spot cash surpluses or deficits and refine their forecast accuracy.
“In an ever-changing dynamic market environment, it is more important than ever for Treasurers to have an accurate and timely forecast of their liquidity position, not just in the short term, but as far forward as possible. As part of HSBC’s drive for digital innovation, our Cash Flow Forecasting tool can provide Treasurers with the functionality they need to do just that,” said Kevin Green, Country Head of wholesale banking at HSBC Bangladesh.
The tool complements HSBC’s other cash and liquidity management products across payables, receivables, clearing and foreign currency, liquidity, liability, and investments to help client treasuries be as efficient and effective as possible.
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