About Trovata

Trovata is an intelligent cash-management tool on an open banking platform that aggregates your cash data across all your bank accounts, consolidating & normalizing your transaction data into one unified view.

Trovata helps you visualize key insights from a single platform through secure API integrations with your banks, instead of relying on misplaced data and spreadsheets. Thanks to its intuitive reporting functionality, variance analysis, and deep drill downs, you gain a detailed line of sight into your transactions, allowing you to analyze subsidiaries, currencies, & regional breakdowns in real-time.


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3 Reviews of Trovata

Overall rating

5 / 5 stars

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July 2020

Jonathan from Healthcare

Company Size: 201-500 employees

Industry: Hospital & Health Care

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

July 2020

Good Treasury Product

Great experience working with Trovata. They've been very supportive and always available for a quick call or demo on how to do something. Also, continue to update their product so it continues to be beneficial.

Pros

Forecast tool. Trovata connects to your bank account(s) and examines the past year of transactions. Then, by tagging certain transactions/vendors/amounts (almost any identifier) you can build full cash forecast, partial account forecast, individual vendor forecasts, or anything else you might want. It continues to learn as more and more activity occurs.

Cons

The learning of Tags and their integration to forecast is a little clunky at first, and not completely intuitive, but after a learning session and some time spent on your own testing and trying different things it gets pretty easy. It worth the slight learning curve, as you understand the forecast more when adding each tag, since you spent so much time building the tag to be as accurate as possible.

Reasons for Choosing Trovata

Combination of cost, forecast capability, API connectivity (for bank connection), onboard time, and interaction with sales/tech people.

September 2020

Brent from Caruso Affiliated

Company Size: 51-200 employees

Industry: Real Estate

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

September 2020

Excellent tool for cash reporting and forecasting

Excellent customer service and onboarding. The team has great business insights and has been a great thought partner rather than just an implementation partner.

Pros

Trovata has greatly simplified our cash position reporting by eliminating the need to log into multiple banking portals. We have additionally gained tremendous insights into our cash flow and have enhanced our cash flow forecast capabilities. Features like "tags" provide great efficiencies in our day to day operations.

Cons

There aren't really any cons. The ability to initiate and approve bank/wire transfers in Trovata, however, would be an ideal future development.

August 2020

Aurelia from Orbus, LLC

Company Size: 201-500 employees

Industry: Events Services

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

August 2020

Powerful Automated Cash Management System

Overall experience with Trovata software and Trovata team has been exceptional. Trovata tool is used for cash reconciliation, cash analysis and cash forecasting. Trovata mobile app helps our [SENSITIVE CONTENT HIDDEN] know our cash position at any time, anywhere, at a click of a button!

Pros

Trovata gives you the ability to instantly know how much cash you have across multiple bank accounts which you can then group by entities or by any other customized group. You can streamline the reconciliation process by creating "tags" which can be used to reconcile, build reports, automate the process of cash forecasting, or simply build powerful dashboards in an instant, just using the tags. Cash Analysis is my favorite feature as it allows you to view weekly, monthly or quarterly trends at a click of a button, and further drill down into transactions right from the graph. You can build a cash forecast in a few minutes and Trovata uses machine learning to show future trends based on historical data, but easy enough to change if needed. You have the ability to bring in information into the forecast from your ERP or use excel to populate the forecast. If you have multiple bank accounts and multiple entities in Trovata, you can consolidate the forecast with a click of a button. You can build quick reports and set them up so they automatically get emailed to various recipients in your organization. Trovata also has a mobile app which makes it easy to view your cash position at any time from your phone.

Cons

I do not think you can have multiple user roles within Trovata, but I would like to be able to give different permission rights to users of the product.

Reasons for Choosing Trovata

Trovata is user friendly, uses machine learning, is a powerful tool which gives real time data, it provides multiple features as cash reporting, cash flow analysis, cash forecast, all useful for my accounting, finance and treasury needs.