Treasury management is one of the most important aspects for the financial well-being of a business. You have to control collections and payments, be aware of the dates on which they will occur and have a liquidity forecast.

Commonly, companies tend to carry out these processes manually, verifying that collections have occurred from bank statements, and scheduling transfers of fixed costs, such as payroll, or through payment adhesions, like taxes.

Carrying out the payment and collection process manually can lead to numerous errors in the management of the treasury, such as:

  • Payments that did not occur
  • Duplicated payments
  • Duplicated charges
  • Delays in paying bills
  • Misplaced invoices
  • Lack of a policy for the collection of defaulters

In companies that handle hundreds or thousands of operations every month, this can become insane. For the accounting area that oversee these tasks, doing it manually will waste a lot of time and be exposed to human errors (which later lead to wasting even more time).

Complying with treasury forecasts is a real sudoku game if you don’t use tools that help with automated data validation and reconciliation.

Why automate Financial and Treasury Management?

The data reconciliation tools allow you to validate collections and payments in an automated way, without having to lose your eyes on the screen checking long tables of bank statements.

This provides the ability to view in real time the financial status of your accounts on a daily basis, and allow the Accounting area to know if the collection dates will be prior to the payment dates and in what financial status they are at that time.

This would allow you to:

  • Analyze the status of your treasury and renegotiate payment terms with your suppliers based on the collection dates.
  • Know if there are financial needs, such as the fulfillment of loan payments that will leave you with greater liquidity on the following months.
  • Have a strategic vision of your accounts and the management of your finances, so that you can make better decisions.
  • Keep a forecast of when the payment terms of your credit cards will expire.
  • Be able to carry out an adequate control in the purchasing policy, in accordance with the financial status of the company.
  • Inform Management of financial forecasts and predictions based on collections and payments, in order to make appropriate decisions to obtain liquidity.

Use Conciliac to perform your reconciliations and manage your data

Cash management is vital not only for understanding liquidity, but for business strategy as a whole. Therefore, standardizing and automating the analysis and calculation of data is vital so that you can have accurate information that helps you mitigate risks and uncertainty.

By using the Conciliac solution to validate and manage your data, you can anticipate decisions that will lead to success.

Do you want to know how? Request a demo and find out.