HSBC’s Cash Flow Forecasting (CFF) tool on HSBCnet has driven a great degree of automation and accuracy on Saudi Chevron Phillip’s cash flow forecasting.
Cash data from all bank accounts in three different jurisdictions are automatically fed into the CFF platform. They are visualised in the form of interactive charts, graphs and tables, with side-by-side displays of actual versus forecasted cash positions. Real-time reconciliation for accounts payable and accounts receivable is achieved using line items created in the CFF tool, helping SCP conduct an accurate and efficient variance analysis.
HSBC’s team also replicated SCP’s existing 13-week rolling forecast model on the CFF platform - further automating their existing processes while minimising disruption to familiar treasury practices.
With in-depth cash analytics at both individual entity and overall group level through the CFF tool, Saudi Chevron Phillips now enjoys greater overall visibility on cash positions, as well as the single consolidated group-level forecast that they sought.