VANCOUVER, British Columbia--(BUSINESS WIRE)--HSBC Commercial Banking clients can now access a leading cash flow forecasting tool directly through HSBC’s online banking, allowing businesses of all sizes to build a more accurate picture of their future finances and manage liquidity across all their accounts and currencies through a single sign-on.
The tool is fully integrated, automatically loading data from a client’s account. Customers who previously spent weeks producing spreadsheet-based predictions by manually retrieving data from their internal and banking systems can have results in an instant.
“Efficient cash flow forecasting is critical to effective liquidity management, allowing clients to budget effectively, and plan the future. And the uncertainties and business disruptions of COVID-19 have only made this more important. The HSBC Cash Flow Forecasting tool gives companies actionable insights to help build their business, through an intuitive and interactive user experience,” said Michael Klopchic, Head of Global Liquidity & Cash Management, Canada.
HSBC’s Cash Flow Forecasting produces sophisticated cash forecasts for up to a three-year horizon. Modelling and scenario testing creates easy bespoke forecasts, and detailed variance analysis highlights differences between forecasts and actual performance – allowing clients to take action to improve their forecast accuracy. All of this will be offered to HSBC clients at a much-more accessible price than third-party solutions, enabling a broader range of businesses access to this important financial forecasting tool.
The tool complements HSBC’s other liquidity management products: the portfolio includes 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.
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HSBC Commercial Banking
For over 150 years we have been where the growth is, connecting customers to opportunities. Today, HSBC Commercial Banking serves around 1.4 million customers across 53 markets, ranging from small enterprises focused primarily on their home markets through to corporates operating across borders. Whether it is working capital, term loans, trade finance or payments and cash management solutions, we provide the tools and expertise that businesses need to thrive. As the cornerstone of the HSBC Group, we give businesses access to a geographic network covering more than 90% of global trade and capital flows. For more information visit: http://www.hsbc.com/about-hsbc/structure-and-network/commercial-banking
HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Wealth and Personal Banking. HSBC Holdings plc, the parent company of the HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,956bn at 30 September 2020, HSBC is one of the world's largest banking and financial services organizations.
For more information, visit www.hsbc.ca or follow us on Twitter: @hsbc_ca or Facebook: @HSBCCanada