Transform cash forecasting with AI

May 28, 2024 | 3 minute read
Wayne Heather
EPM Product Marketing Director, Oracle
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Read the previous blog in the series, The Top 5 Challenges for Navigating Continuous Cash Forecasting.

Many finance leaders lack confidence in their cash forecasts and struggle to manage cash. In an effort to improve forecasting, companies are seeking cutting-edge cash and liquidity management solutions.  They want a holistic, real-time view of their cash data and tools to help them accurately predict their cash liquidity.  With accurate predictions, companies can take timely and data-driven actions with customers, suppliers, investments, or internal transfers to optimize their working capital.  

At Oracle, we know cash flow is the lifeblood of business, but creating accurate short-term forecasts is often a labor-intensive process, lack real-time insights to optimize decisions, leads to missed opportunities, and could even put the company at risk.
 
With our continued innovation in delivering best practice processes and embedding AI across our entire Cloud EPM suite, we have created Predictive Cash Forecasting in Oracle Cloud EPM. This will transform cash flow forecasting for our customers and enable them to take better control of their cash utilization.

Predictive Cash Forecasting in Oracle Cloud EPM allows you to create data-driven forecasts by sourcing and utilizing data from all finance and operational sources affecting your cash to drive your forecasts. With all the data in one place, we can apply predictive algorithms and AI to the data to really help increase the speed and accuracy of your forecasts.

By applying predictive algorithms and AI, you can now forecast more accurately with prescriptive continuous daily, weekly or monthly cash forecasts across operating, finance and investing cash flows. AI can analyze vast amounts of data to uncover hidden patterns or trends impossible for humans to detect, resulting in more accurate forecasts.

Augment your human expertise with AI and visualizations to easily gain an understanding of your prediction outcomes with context. Predictive Cash Forecasting has the unique ability that allows you to blend multiple forecast methods across different cash lines or across different time periods for the most accurate forecasts.  You can fine-tune your forecasts based on your knowledge and intuition, while still using the AI to predict cash forecasts for your comparison.

Automatically get alerted to anomalies or material variances before they happen as the machine automatically analyzes your forecasts. This allows you to take corrective action before it happens, allowing you to make better decisions ahead of time to make sure you can efficiently make use of the cash you have and confidently pursue opportunities.

cash forecasting

With Predictive Cash Forecasting in Oracle Cloud EPM, finance teams can leverage AI to gain efficiency, accuracy and foresight around cash forecasting. Predictive Cash Forecasting will be the authoritative record of accurate cash reporting and forecasting across the business.  With a more accurate view on your cash, you will have the confidence to make more strategic decisions around the deployment of cash and improve your cash utilization. Also with the efficiency, you will spend less time on the process of forecasting and focus more time on strategy and guiding the business. For businesses relying on short-term cash forecasting, embedding AI into their financial management system will deliver a significant competitive advantage.

Learn about Oracle Fusion Cloud EPM for cash forecasting.

Wayne Heather

EPM Product Marketing Director, Oracle


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Top 5 challenges of navigating continuous cash forecasting

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