Trovata, a cash management automation platform, is poised for growth in 2021, with plans to quadruple its client base, founder and CEO Brett Turner told Bank Innovation.

The San Diego, Calif.-based startup, which launched in the second quarter of 2019, develops software that tracks cash movement, normalizes data and automates forecasting, reporting and analysis. The fintech, which works with JPMorgan, Citibank, Bank of America, Wells Fargo, HSBC and other banks, has around 100 clients and Turner anticipates notching 400 more in 2021.

“Cash forecasting is really hard and it’s not as much an application problem as it is a data problem,” Turner said. “It requires all of these dynamic data sets from different aspects of your business.”

The complexity of cash and portfolio forecasting intensifies as COVID-19, forbearance and stimulus programs continue to skew data around repayment and business. Scaling cash management and forecasting with automation will be crucial when companies roll off payment assistance programs.

Trovata mitigates time spent on manual Excel calculations with automated cash reporting, and also leverages an API to store originating bank data, which helps the system remain flexible with evolving bank integration requirements.

The startup is also teeing up a product launch in January that will build out its automation capabilities with added machine learning, AI and auto-tagging functionalities, allowing the company to move up the market, primarily in the wholesale space, Turner said, without giving specifics.

Automation and online banking remain two focal points for Trovata, which has clients who still manually enter data in Excel spreadsheets, Turner said. The fintech’s automated systems will allow treasurers, controllers and finance specialists to focus on strategic planning instead of mundane tasks.