Research spotlights the impact of Covid-19 on cash management, amplifying the importance of digitalization to untap hidden cash.
Helsinki, Finland – April 27, 2020 – Nomentia releases key findings today from ‘Successful Businesses Excel At Cash Management’, a commissioned research study conducted by Forrester consulting across 163 decision-makers at Global 500, Global 2000, and companies with <€1B revenue responsible for cash management and treasury strategy. This intensive global study by Forrester examines what are the priorities of cash management and treasury professionals and the impact of COVID-19. To view the study in its entirety, please visit here.
“This study provides an excellent insight for any businesses looking to reap the benefits of cloud-based treasury management technology to increase organizational flexibility, cash management process scalability, and B2B payment security,” said Jukka Sallinen, Chief Executive Officer of Nomentia. “We wanted to understand what the current state of digitalization across treasury and cash management is and what are the challenges decision-makers are looking to overcome. We are thrilled to share the study with businesses to help them identify how they can take their cash management to the next level.”
Forrester’s study indicates that the current tools hinder firms’ priorities with cash flow management and the lack of visibility into cash flow has high costs. Thus, businesses are ready to invest in solutions that improve their cash flow capabilities:
- Over 80% of business leaders are prioritizing increasing cash management and payment efficiency and maximizing cash flow liquidity.
- 70% of decision-makers said that cash flow transparency, flexible reporting, and data collection are challenging.
- 66% percent of enterprise decision-makers reported their firms have invested or are expanding investment in financial data analytics.
The study also demonstrates that business leaders at large multinational enterprises have experienced that the COVID-19 pandemic has increased the importance of cash liquidity, transparency, and certainty. As a result, three-quarters of the decision-makers plan to improve cash management capabilities, they deeply recognize the urgency and importance to digitalize and enhance their processes. Businesses that want to strengthen their resiliency will emphasize the importance of cash excellence to improve decision-making and successfully navigate the changes in customer behaviors, work, and technology accelerated by the pandemic.
Nomentia is a powerhouse for global cash management. We believe in a world in which businesses can make the right decisions no matter how unpredictable the times are. Our SaaS-based platform offers solutions for cash forecasting and visibility, global payments with bank connectivity, reconciliation, in-house banking, guarantees, and FX dealing. We serve over 2,500 clients in over 100 countries processing more than 200 billion euros annually. For more information, visit nomenita.com and follow our news on LinkedIn at www.linkedin.com/company/nomentia.
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