Lucia Galán Cáceres, Head of Treasury at On
When On began scaling rapidly, its treasury operations were challenged to keep pace. Cash visibility was fragmented, forecasting was very manual, and transactions were hard to analyze. The team needed better, clearer insights to make confident investment decisions.
On invested in technology to elevate their treasury functions to the next level. With Palm, they gained full visibility, automated data classification, implemented new forecasting models, and collaborated directly with the Palm team to refine it in real time.
The result? A strategic shift in treasury management, a higher degree of confidence in cash needs of their high-growth company and a $350M+ increase in cash investments that had previously sat idle.
The Challenge
Visibility alone wasn’t the problem, On had begun a bank connectivity and integration project with their TMS provider. What they still lacked was the ability to make sense of it at the pace they needed to make decisions. With hundreds of thousands of transactions flowing through hundreds of bank accounts across multiple jurisdictions, the real challenge was turning aggregated visibility into actionable confidence, fast. The TMS they were using required the team to manually build hundreds of rules to make sense of what was happening on their accounts. This, before they could build their first automated forecast.
The treasury team needed more than a dashboard; they needed a tool that could interpret the noise, proactively guide decisions, and build trust in both today’s cash position and tomorrow’s outlook. They expected a tool that would minimize the need for time consuming, data sanitation work and allow them to take action on it instead.
Before Palm, this was nearly impossible. Accounts were spread across multiple banks, reporting was manual, and key outflows like tax or bonus payments often came as surprises, resulting in frequent last-minute bank account fundings.
“Our previous process was highly manual, requiring us to log into individual banking portals and check specific data tables that were often unreliable.”
— Amanda Mitt, Senior Specialist - Group Treasury Analytics & Reporting
There was no automated forecasting model. Categorization was manual. And there was growing pressure from leadership to shift toward financial excellence.
Why Palm
Palm transformed visibility into clarity. By layering intelligence on top of the aggregated data their TMS provided, Palm built a trustworthy narrative of the company’s cash; explaining not just where money sat today, but why it was there and what it meant for the future. Instead of static reporting, the treasury team gained proactive guidance: confidence in forecasts, context for variances, and the ability to make decisions with speed and certainty.
The platform was able to categorize historical and daily transactions with higher precision than the manual rules, in a fraction of the time. The first unlock came when non-operating flows were clearly differentiated from operating ones, giving On a first glance of how the cash at the company was truly behaving.
From there, Palm’s machine learning and statistical models were able to utilize historic trends to build a base forecast that gave the team the confidence to begin decreasing operating balances and ultimately unlocking them for re-investment.
Palm was introduced to solve a specific pain — categorization — but quickly proved to be much more
Key Reasons for Adoption
AI-powered categorization, with confidence from day one
“Given our lean team and the high volume of data we managed, it was critical to find a scalable solution.”
— Amanda Mitt, Senior Specialist - Group Treasury Analytics & Reporting
Forecasting based on history and input data
“Palm gives you that forecast for the future based not only on your own data, but also on your own past data and performance.”
— Rodrigo Cabrera, Senior Specialist - Group Treasury Core
Collaborative iteration , no tickets, no waiting
“I think I mentioned something 3 days ago and the product team at Palm was already reaching out to schedule a call.”
— Rodrigo Cabrera, Senior Specialist - Group Treasury Core
“It was almost as if we were sitting next to each other.”
— Rodrigo Cabrera, Senior Specialist - Group Treasury Core
Strategic Impact
$350M+ Increase in Invested Cash
This capital was unlocked by a new level of visibility and forecast trust. The team moved from cautious to confident — reallocating large sums into investments they previously held back on.
Reduced Friction & Emergency Funding
Surprise tax payments and bonuses are now forecasted and covered. FX operation are planned and executed precisely. Reporting is accurate and fast.
“ We used to have way more issues with funding accounts before... now I think we have once every — I don't even remember the last time we had issues. ”
— Amanda Mitt, Senior Specialist - Group Treasury Analytics & Reporting
Treasury Team Enablement
“ We view Palm as more than just a treasury tool and much like a boutique consultancy with deep expertise in AI and treasury. ”
— Amanda Mitt, Senior Specialist - Group Treasury Analytics & Reporting
Palm became more than a tool — it’s a partner in day-to-day operations and long-term transformation.
“ It was at Eurofinance that it really clicked: On has a significant head start with AI. We're already tackling challenges that others are just beginning to explore. ”
— Amanda Mitt, Senior Specialist - Group Treasury Analytics & Reporting
