Cinergy Among First to Benefit from this Powerful Forecasting Tool
Vancouver, BC, August 5th, 2004 - Leading treasury software developer Selkirk Financial Technologies announced the delivery of Forecast Analytics(tm), an easy-to-use cash forecasting tool that gives organizations the power to analyze movements in total liquidity by comparing historic or future versions. Selkirk's Forecast Analytics gives an organization the ability to quickly and easily monitor the accuracy of its forecast-including cash, short term investments and debt.
Cinergy Services, Inc., the administrative services affiliate of Cinergy Corp., is one of the first Selkirk clients to purchase this powerful new tool. "So much emphasis is being placed on working capital," said Kim Sipes, Cinergy's manager of cash management. "Senior management, rating agencies and investors are all scrutinizing liquidity. There are also the Sarbanes-Oxley controls around cash and accurate forecasting with which to contend. However you look at it, "cash is king".
Over the long term, Forecast Analytics will help Cinergy's treasury meet the demands of management and other senior stakeholders. Users will more easily explore, explain or report on the performance of their forecasts. On a day-to-day basis, using Forecast Analytics will result in interest savings for Cinergy. "We were looking for better tools to increase the accuracy of our forecast so we could better assess our liquidity needs," said Sipes. "Having more accurate forecasts will allow us to more effectively place commercial paper and take advantage of the yield curves. With Forecast Analytics, we will not only have a longer forecast, we will have the confidence to act on it."
Forecast Analytics is available with the latest version of Selkirk's best-of-breed treasury management solution, Treasury Manager(r). Selkirk is hosting a free webcast on Forecast Analytics on Thursday, August 5.