DebtBook launches new cash-management software

DebtBook, a provider of cloud-based software solutions for governments and nonprofits, has released a new tool designed to provide a unified system to monitor bank activities, forecast cash inflows and outflows, and prevent fraud. 

The firm’s new product, Cash Management, is set to solve a number of organizational challenges for the sector, said Tyler Traudt, chief executive officer and co-founder of DebtBook. The application provides real-time visibility into organizational cash flows, enhanced cash forecasting, rule-based automatic categorization, detailed analysis of banks fees, and a number of other features, he said.

“What we’re trying to do is enable finance officers, CFOs, treasurers, and their teams to be more strategic in their roles,” he said. “With Cash Management, these professionals can spend less time gathering data and spend more time taking that data and using it, deriving actionable insights from it so they can go and make better decisions.”

DebtBook, launched in 2018, specializes in aiding finance teams in local government, higher education, and healthcare to manage treasury portfolios. The company was born out of the belief that organizations in the government and nonprofit sector have been under-investing in their treasury function, and a desire to serve the unique challenges and needs of these organizations.

“The organizations that we’re talking about are important to every single one of us, and to date there has been a lack of investment in and around the office of CFO and treasury. We want to fix that,” Traudt said. “If we can help these individuals be more successful, ultimately that benefit will roll downhill to our families, to everyone around us.”

Originally, DebtBook’s primary application was a solution to help these organizations invest in their debt-management practice. Following discussions with customers, DebtBook began manufacturing their Cash Management solution 18 months ago. 

“From day one, we have been building our products with our customers,” Traudt said. “And so with Cash Management, we started by having discussions, and we pulled together all the perspectives around this business challenge, and then set out to go and uniquely solve that challenge.”  

Looking to the future, Traudt said the firm will continue developing new software and solutions for the governmental and nonprofit sector, and eventually build a comprehensive world class treasury management for those teams. 

“Our belief is that building a long-term cash forecast, having better access to your data regarding debt, cash, and investments, is critically important to ensure a really strong organization,” Traudt said. “When we talk about financial outcomes, these offices are going to be able to capture benefits that not only will increase productivity and reduce risk, but also create budget.”