DebtBook Debuts Cash Management Tool for Treasurers

DebtBook has debuted a tool designed to help customers manage cash flow and liquidity.

The company, which makes cloud-based software solutions for governments and nonprofits, debuted its Cash Management solution Wednesday (Nov. 13), saying this tool is designed for cash managers, treasurers and finance teams.

“The introduction of Cash Management represents an important milestone in accomplishing our mission,” Tyler Traudt, DebtBook co-founder and CEO, said in a news release. “This solution significantly eliminates the operational hurdles so many teams are fighting, and it enables them to take on the strategic work that they crave and that their organizations and communities need.”

According to the release, Cash Management is designed to improve financial performance and lower risks for government and nonprofit finance teams. The tool’s cash forecasting capabilities let teams make more accurate cash forecasts, allowing them to invest and borrow more strategically, thus raising revenues and cutting costs.

“By enabling continuous monitoring of all bank accounts and flagging unusual activity, we help teams reduce the risk of fraud,” the release said. “And by automating real-time daily cash positioning, our solution helps reduce errors and create meaningful productivity gains.”

PYMNTS examined the challenges of maintaining optimal liquidity amid more diverse cash management workflows earlier this year in an interview with Noam Mills, CEO at Panax.

“Cash flow can be a blind spot for the finance team,” Mills told PYMNTS, adding that traditional cash flow management can often depend on manual processes and reactive measures.

Drawing on her own finance experience at a global eCommerce business, she noted that treasury teams are often “chasing their own tails just to understand where they are and to make decisions.”

However, the rise of artificial intelligence (AI) means that modern solutions that leverage innovation are playing an increasingly pivotal role in automating and streamlining financial processes for complex treasury organizations.

“The key word here is complexity. And complexity can arise from many different sources, whether it’s the holding structure or the nature of the business,” Mills said.

More recently, PYMNTS discussed the integration of automation and AI into treasury management with Albert Acevedo, senior vice president of treasury services at Priority.

“There’s a lot of automation decision-making already in place,” he said, with AI becoming more crucial in improving forecasting and pattern recognition capabilities.

The challenge lies in effectively weaving these new technologies into existing processes, making sure they complement business operations and not disrupt them.

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