You may recognize these building blocks from the floor of your child’s playroom or classroom. While we didn’t create the popular social media post or the impressive array in the above illustration, we are staunch advocates of the message it conveys.
Much like the pile of jumbled blocks at the upper left, data that is disorganized and lacks proper management can be a nuisance to any finance office. Data and information like this will surely cause more harm and headaches than good.
Data management and analysis requires two core competencies: (1) a strategy and (2) technology.
Your finance officials should set clear goals on what they hope to achieve with liquidity data, such as stress-testing, forecasting, and benchmarking. Once clear objectives are established, the only thing keeping you from new earnings and savings is the technology needed to take massive amounts of raw data and build actionable visualizations.
Looking at raw transaction and bank fee data can cause more pain than accidentally stepping on one of these building blocks. cashvest® was designed to alleviate these pressures and give your office new tools to build for the future.