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Trying to get all of your cash balances without having Balance Cash Management.
Balance empowers businesses to see all of their cash balances in a single interface and provides actionable insights to improve cash management and avoid the unexpected. Balance empowers financial professionals with a customizable liquidity dashboard displaying charts, tables, and metrics tailored to the specific needs of a business.
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Balance reposted this
Trying to get all of your cash balances without having Balance Cash Management.
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Here are 5 key statistics on the time spent by financial analysts on reporting cash balances and the associated costs: 1. Time Allocation: Financial analysts typically spend about 25% of their working hours, or 10 hours per week, on cash reporting activities. 2. Annual Cost of Reporting: With an average salary of $80,000 per year, the cost of time dedicated to cash reporting tasks amounts to approximately $20,000 annually per analyst. 3. Impact of Manual Processes: 55% of financial analysts rely on manual methods like spreadsheets, which increases reporting time by an estimated 30% compared to automated processes. 4. Error Correction Costs: Errors in cash reporting result in an additional $5,000 per year in costs per analyst, due to time spent on corrections and reconciliations. 5. Potential Savings: Companies can reduce reporting time by 40% through the implementation of automated cash reporting tools, potentially saving $8,000 per analyst each year.
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Too many logins to manage for your financial institutions. Let Balance Cash Management provide a single login platform for all of your accounts.
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When you're creating cash reports without using Balance Cash Management.