"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," said Rich Grossi, CEO of ION Treasury.
Organizations of all sizes will be able to use the new tool to validate or replace manual cash forecasting.
"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," said Peter Radtke, head of corporate finance and treasury at intelligent automation solutions firm KUKA.
ION’s machine learning strategy goes beyond cash forecasting, though. Developing solutions are on tap to lower costs related to the implementation and time-to-market of a treasury management system (TMS).
"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," Grossi added.
In April, ION acquired Allegro Development Corporation, a global provider of enterprise commodity management solutions. Andrea Pignataro, founder and CEO of ION Trading, said at the time that “the acquisition of Allegro Development Corporation expands our footprint in commodities and our portfolio of enterprise solutions.”
Founded in 1998, the ION Group provides solutions for electronic trading, position management, pricing, risk management and downstream processing for clients. The company works to help financial institutions, central banks and corporations digitize and automate critical processes.
Financial institutions are experiencing significant changes (and potential improvements) when it comes to managing and forecasting cash flow, with new tools and technologies entering the market. Machine learning and AI can spot often hard-to-detect patterns that impact cash flow.