HSBC clients will have a single point of access for all their cash management needs
HSBC Commercial Banking clients can now access a leading cash flow forecasting tool directly through HSBC’s online banking, allowing businesses of all sizes to build a more accurate picture of their future finances and manage liquidity across all their accounts and currencies through a single sign-on.
Read More: Laurentian Bank of Canada Announces CFO Succession Process
The tool is fully integrated, automatically loading data from a client’s account. Customers who previously spent weeks producing spreadsheet-based predictions by manually retrieving data from their internal and banking systems can have results in an instant.
“Efficient cash flow forecasting is critical to effective liquidity management, allowing clients to budget effectively, and plan the future. And the uncertainties and business disruptions of COVID-19 have only made this more important. The HSBC Cash Flow Forecasting tool gives companies actionable insights to help build their business, through an intuitive and interactive user experience,” said Michael Klopchic, Head of Global Liquidity & Cash Management, Canada.
Read More: GCash Attracts Fresh Investment From Bow Wave
HSBC’s Cash Flow Forecasting produces sophisticated cash forecasts for up to a three-year horizon. Modelling and scenario testing creates easy bespoke forecasts, and detailed variance analysis highlights differences between forecasts and actual performance – allowing clients to take action to improve their forecast accuracy. All of this will be offered to HSBC clients at a much-more accessible price than third-party solutions, enabling a broader range of businesses access to this important financial forecasting tool.
The tool complements HSBC’s other liquidity management products: the portfolio includes cash management products across payables, receivables, clearing and foreign currency, liquidity, liability and investments, and corporate credit cards, to help our client treasuries be as efficient and effective as possible.
Read More: Axos Bank Rewards Checking Named Best Checking Account For High Interest For Second Consecutive Year
