The ABCs of Accurate Cash Forecasts
Company Size
1,000+
Region
- Europe
Country
- United Kingdom
Product
- TIS Cash Forecasting
- TIS Cloud Platform
Tech Stack
- AI Algorithms
- Automated Data Input
- Cloud Integration
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Education
- Professional Service
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
- System Integration
About The Customer
Pearson is the world leader in learning and educational services. For more than 170 years, the British multinational publishing and education company, which is headquartered in London, provides content, assessment, and digital services to learners, educational institutions, employers, and governments worldwide. Today, more than 160 million users in nearly 200 countries use Pearson’s products and services. Pearson has an annual turnover of over $4.6 billion, manages more than 600 bank accounts, and operates 30+ treasury centers globally.
The Challenge
Pearson faced a highly complex and globally dispersed financial data environment. With IT already heavily focused on digitising the business, the treasury department was keen to ensure that the workload for IT was kept low. The company needed a solution that could integrate seamlessly with their existing systems, automate data input to reduce manual work, and provide detailed insights into cash flow drivers to drive behavioural change.
The Solution
Pearson chose TIS for its robust integrations with banking partners and back-office platforms. The TIS platform allows bank statements and other relevant financial data to be automatically pulled in, providing comprehensive global insight into primary cash flow drivers. The platform also enables Pearson to drill down to review granular forecast details by operating company, driving behavioural change. Data sources and cash flows can be classified by type for faster and more efficient analysis, and reports can be easily shared with other departments and stakeholders. The AI-based algorithm in TIS Cash Forecasting iteratively back-tests its model to identify gaps or inconsistencies, making the outputs more accurate over time. The Actual vs. Forecast analysis enables Pearson to better manage liquidity and collaborate more easily with stakeholders and contributors outside of treasury who also need access to relevant data.
Operational Impact
Quantitative Benefit
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