A: The calendar can be set up either using intervals of days or months. Even when the regular setup uses months, cash flows can be captured using any exact date within a month in order to keep this information for further analysis. The time horizon is something which is more fully defined by the user - TFM has no minimum/maximum restrictions related to this aspect.
Q: Is it possible to maintain different forecast versions in TFM, i.e. scenarios (best/worst case, etc.)?
A: TFM is designed to maintain as many different forecast versions as necessary by also offering the possibility to decide which versions should be public and which not.
Q: At our group, we have divisions with different (deviating) requirements regarding the structure of a forecast due to the individual nature of their operations - how can TFM cope with such different requirements?
A: Users may define as many different views on the forecast structure as they need. The individual views can be assigned to the respective entities but will be merged into just one forecast structure. I.e. each entity will only see those categories which are necessary to complete their forecast and won't be distracted by categories they usually do not need.
Q: In order to be able to identify FX exposures related to our operative business, we need to be able to capture cash flows in the respective currency - is this supported by TFM?
A: Yes, this is one of the main features of TFM and, from a technical point of view, one of the most challenging tasks in order to make sure that the system still delivers excellent performance even though hundreds of thousand of cash flows, maybe in 50+ currencies, need to be analyzed.
Q: How are cash flows (amounts) in foreign currencies usually converted into the entity's/group's functional currency?
A: The functional currency is always part of the entity's/group's static data content. Cash flows not denominated in the entity's functional currency will usually be automatically converted by using exchange rate tables which are usually maintained at head office.
Q: Capturing cash flows manually is usually regarded as a painstaking task - users quite often benchmark such applications with the user friendliness they are used to from spreadsheets. Are there any particular features that might be used as arguments in discussions with, for example, colleagues at our subsidiaries?
A: Comparing spreadsheets and web-based applications in terms of usability is usually not objective. Nevertheless, TFM provides user friendliness even exceeding what users usually know from spreadsheets - in-cell calculations using mathematical operands where the formula captured still remains available even though just the result of this formula is shown is just one outstanding feature. Another feature is the option of adding comments within the formula itself, e.g. adding the reason for the payments totaled in the respective cell - do your spreadsheets provide such a feature? TFM does. We found this extremely helpful and we are sure you and your colleagues will like it as well.
Q: Is it possible to compare different forecasts or versions of forecasts in order to track changes, for example?
A: As long as different versions are used (e.g. one version per month), these versions can be easily compared and deviations tracked.
Q: We need to constantly monitor the differences related to the comparison of forecast and actual data - does TFM support such analyses?
A: TFM offers two different ways to monitor such deviations: Firstly, the liquidity as per forecast will always be automatically reconciled with the actual balances as per reporting date. Secondly, if a user requires a more detailed analysis, forecast and actual flows have to be compared. This can be done by again using different forecast versions: one for the forecast itself, and one for the actual figures.
Q: Are credit limits and their utilization taken into account in the forecast?
A: Certainly - Failing to take these into account would mean that the results of the entire forecasting process would not be meaningful.