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CashPro® Data Intelligence
Transform your treasury. Turn data into insights.
Our CashPro Data Intelligence suite of products cuts through your treasury data to provide actionable insights that can help you make more informed treasury decisions and even help you strengthen your security.
Payments insights
The payments insights analyze your data and use data visualization to provide personalized, actionable insights. They can help you save money, optimize payments processes and better protect accounts. These four dashboards reveal opportunities for you.
- Payments Efficiency: Presents potential savings by comparing digital and check payments
- Supplier Propensity: Estimates working capital gains by analyzing suppliers’ payments frequencies
- Cross-border Payments: Suggests optimizations to your FX strategy
- Fraud Protection: Estimates reduction in exposed balances by using fraud protection services
Security insights
This security meter in the CashPro App keeps your data under wraps by scanning your individual security controls and suggesting stronger protections, like:
- Enabling biometrics
- Downloading security updates
- Enabling QR code sign-in
- Using security best practices
"The amount of data we can now tap into using CashPro Insights is jaw-dropping. We had been creating these KPIs internally and it took us many steps to get to these same valuable data points. Now they are right at our fingertips."
CashPro Forecasting
Powered by predictive analytics, CashPro Forecasting is easy to use and provides complete visibility into all your accounts, including those at other banks.
This powerful solution:
- Creates customized reporting on risk, audits and more, all in one tool.
- Keeps track of your cash flows for you, saving you time.
- Becomes smarter over time.
- Is available in CashPro, with no new implementation.
CashPro Capital Markets™ Insights
This unique tool in the CashPro App digs into the data to help you analyze the markets:
- Access enhanced market statistics
- Improve decisions with our AI-driven Trade Evaluation Score (TED)
- View new issuance data
- Search across markets and filter by pricing, tickers and more
- Available for US-based users
Veeva Systems Case Study: Forecasting made simple
Veeva Systems, a cloud-computing company focused on the pharmaceutical and life sciences industries, was seeking to maximize the effectiveness of its lean treasury department.
The company was manually downloading transaction data from CashPro to Microsoft Excel on a weekly basis. Not only did this take time, but it limited Veeva’s ability to dynamically assess cash flow and to forecast payments causing the company to keep excess cash in its operating accounts.
Increased visibility with CashPro Forecasting
“For us, the biggest difference has been the ability to see an overview of all our inflows and outflows on one screen,” says Dorothy Huerto, treasury cash manager at Veeva. Since transactions populate automatically, the company no longer needs to manually import data, saving it several hours a week.
Having ready access to its historical cash flow also makes it easier for Veeva to forecast upcoming payments accurately. CashPro Forecasting uses machine learning and predictive analytics to automatically generate forecasts, then continues to refine those forecasts based on a company’s actual cash flows. “Everything is faster,” says Huerto. “When it comes to both reporting and forecasting, it’s been a big time-saver.”
More efficient use of funds
More accurate forecasting also lets Veeva precisely predict and control how much cash it keeps in its checking accounts. “Of course we always need to have enough cash on hand to meet payroll and other expenses, but previously we might err on the side of caution and overfund those day-to-day accounts,” says Sabrina Wong, treasurer at Veeva. “Now, we know exactly how much we’ll need, and we can move more of those funds into a higher-yielding vehicle like a savings or investment account.”
Smooth implementation
For Veeva, an additional benefit was how easy and intuitive it was to begin using CashPro Forecasting. “With some cash management tools, you almost need a programmer to understand the system, but here the interface is very clean and easy to navigate,” notes Wong. “It’s also been very reliable, with no down time.”
Between the time savings, the improved cash flow and the data-driven insights that help it make more-informed decisions, Veeva is eager to roll out CashPro Forecasting to regional finance teams, according to Huerto. “We’re excited about how much we’ll be able to do with it.”
Case studies are for illustrative purposes only and intended to demonstrate the capabilities of Bank of America. You should not consider these case studies as an endorsement of Bank of America. Case studies do not necessarily represent the experiences of other clients. Results may vary.
