Now corporate customers can make better forecasts of their cash flows in an easy way. In early November SEB launched the first version of the Cash Flow Forecasting service in C&I Online.
“We know this is something that many customers are asking for. It is a simple and user-friendly service that customers can get started with quickly and that does not require any installation,” says Martin William-Olsson, product manager for Analytics/Reporting in Transaction Services.
Starting in early November, the new service, which has been pilot-tested by a handful of customers since August, is available for all customers in C&I online as an add-on service. By combining transaction data from the business system with account information at SEB, customers can more easily forecast what their future cash flows will look like and whether they may need to take any actions such as ensuring liquidity in various currencies.
The first version requires customers to manually enter data from their business systems.
“The plan is to sell the service to both large and mid-crop companies, but with the version we now have out, we believe the greatest need rests with mid-crop customers,” says Emma Nordström, product owner and product specialist for Analytics/Reporting in Transaction Services. Many of these companies do a lot of their forecasting in Excel due to a lack of good and effective alternatives. For these customers, we believe this is an easy and inexpensive service that will add value for them.”
In the next step, the plan is to further develop the service to make it possible to import transaction data via file transfers, and then later to establish an automatic integration with customers’ business systems. The development of the tool will be based on feedback from customers and internal interests. Next year the plan is also to offer the service as a separate module in Business Arena.