Why Banks Should Manage Cashflow with a Data-Led Mindset
Financial institutions are encouraged to adopt a data-led mindset in managing cash flow, especially in the context of post-COVID changes and remote work challenges. The global cash flow solutions market is expected to grow significantly, reaching a value of $1.56 billion by 2026. Experts like Joseph Drambarean from Trovata highlight the importance of integrating real-time data for better cash management and strategic decision-making.
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Key takeaways
Financial institutions should leverage data-led strategies for better cash flow management.
The cash flow solutions market is expected to grow at a rate of 25.49% and reach $1.56 billion by 2026.
Post-COVID, companies need secure and efficient ways to distribute financial insights across remote teams.
The way we communicate, share data and use technology to act on those insights is changing – and it’s all leading to the cloud.
On In the Cloud, every week new experts will engage in a fire side chat and will bring their extensive experience in software, IT and mobile solutions straight to you, offering a glimpse into the future of cloud connectivity around.
On this episode of In the Cloud, Voice of B2B, Daniel Litwin talks about the state of cash management technologies, strategies, and investments across the globe and how financial institutions should weigh these solutions. The global cash flow solutions market is poised to ride a growth rate of 25.49 percent and is poised to reach a market valuation of $1.56 billion by 2026, according to a Market Research Future Report.
Giving insights is Joseph Drambarean, CTO, Trovata, a real-time cash flow management solution providing oversight for quick forecasts, liquid cash assets on hand, and strategic financial decision-making. Currently partnered with banking institutions like J.P. Morgan, Citi, and Bank of America.
Coming out of COVID and its emphasis on making important company-affecting decisions based on actionable insights and in the context of a global financial crunch, financial companies are weighing the data gained from their cash flow against other essential metrics.
“Cash has always been king, that has never changed.” – Joseph Drambarean
But, as COVID hit, it changed the rules for how companies do business. They had to send their staff home, unwind their operation and reinvent them from the ground up. It introduced this new problem of distributing financial insights across a completely remote workforce in a secure way and in a way that can be reproduced week-over-week and month-over-month.
“It exposed a lot of gaps in their data infrastructure,” Drambarean said, “whether it meant connectivity to the banks, whether it meant the different aspects of software they use in their lifecycle. Last year, it brought all of that to a painful attention, as cash was stressed.”
CBIRC dropped new rules on cash management and wealth management companies, including banning products from investing in stocks & convertible bonds, wealth management products for cash represented a 7.34 trillion yuan — or $1.15 trillion — market as of the end of March, according to Chinese Banking Wealth Management Registration & Depository Center.
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About the author
Daniel Litwin is a journalist of multiple disciplines focused on finding and telling engaging stories for B2B communities. He has interviewed executives from Fortune 500 companies including Honeywell, Microsoft, John Deere, and Chipotle, and leads editorial direction at MarketScale. Litwin hosts weekly shows and podcasts while helping develop new content approaches across the MarketScale platform. He holds a B.J. in Radio/Television Reporting/Anchoring and a B.A. in Spanish from the University of Missouri-Columbia.
