HSBC Cash Flow Forecasting is accessed via the bank’s digital banking platform, HSBCnet, providing clients with a single point of access for all their cash management needs. The tool is fully integrated – automatically loading data from a client’s accounts – and can also work cohesively with a client’s own systems. This allows details of pending invoices or future-dated events to be added automatically, reducing manual intervention and significantly cutting the time taken to prepare a forecast.
HSBC Cash Flow Forecasting produces sophisticated cash forecasts covering a three-year horizon. The modelling and scenario testing capability allow clients to create customized forecasts with ease. Detailed variance analysis will highlight differences between forecasts and actual performance – meaning clients can spot cash surplus or deficits and further refine their forecasts accuracy.
Using the new tool, customers who spend weeks producing spreadsheet-based predictions by manually retrieving data from their internal and bank systems now have a more efficient, automated and accurate solution.
“In the midst of the COVID-19 pandemic, firms are realizing that having accurate cash flow visibility is more important now than ever,” said Drew Douglas, Head of Liquidity & Cash Management, US and Canada. “Efficient cash flow forecasting is critical to effective liquidity management, allowing clients to better understand their future working capital and liquidity needs, to budget effectively, and to support efficient reporting. The HSBC Cash Flow Forecasting tool, accessible in HSBCnet, gives clients actionable insights through an intuitive and interactive user experience.”
The tool complements HSBC’s other liquidity management products, including the Liquidity Management Portal – a digital dashboard that enables treasurers to more effectively self-manage their liquidity, supporting improved funding and investing decisions. Additional solutions within the HSBC GLCM portfolio include cash management products across payables, receivables, clearing and foreign currency, liquidity, liability and investments, and corporate credit cards, to help our client treasuries be as efficient and effective as possible.
About HSBC USA
HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through retail banking and wealth management, commercial banking, private banking, and global banking and markets segments. It operates bank branches in: California; Connecticut; Washington, D.C.; Florida; Maryland; New Jersey; New York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a Member of FDIC. Investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,918bn at 31 March 2020, HSBC is one of the world’s largest banking and financial services organizations.