LONDON (PRWEB) February 13, 2020
ION, the largest global provider of trading, analytics, and risk management solutions for capital markets, commodities, and treasury management, today announced the launch of the industry’s first-ever cash forecasting solution powered by machine learning.
The solution will help organizations of all sizes to validate or replace manual cash forecasting with improved speed and increased accuracy.
Rich Grossi, CEO of ION Treasury, said: “Machine learning has the potential to revolutionize the treasury industry by providing vital strategic insights on an organization’s cash management and forecasting. We’re excited to lead the industry in providing machine learning capabilities to increase our customers’ visibility into short- and long-term cash forecasting.”
Peter Radtke, Head of Corporate Finance and Treasury at KUKA AG, one of the world’s leading suppliers of intelligent automation solutions, said: “By using historical data, the solution has the potential to create cash forecasts more quickly. Even atypical and seasonal cash movements should be able to be accurately predicted in this way.”
Cash forecasting is only one aspect of the machine learning program at ION. Solutions currently in development will dramatically reduce the implementation costs and time-to-market of a treasury management system (TMS) and increase accuracy and performance in other important areas.
Grossi added: “We couldn’t have done this without the vision and collaboration of the ION community. Community data helped us reveal insights you simply can’t get from a single user. We’d like to thank our customers for helping us become the first and only TMS provider to introduce solutions that harness machine learning.”