Panax Reviews

“crystal clear cash tracking

Pros

It gives us an amazing, clear view of our current cash situation. Plus their account managers are not only skilled but also have a deep knowledge of finance.

Cons

There is some paperwork involved in linking all our bank accounts but that's a standard process you'd have to go through with any treasury management system.

“Real-time cash visibility

Pros

Our finance department can now see all our cash and investment balances in one spot, updated in real-time. The way Panax categorizes everything also makes it simple to monitor cash flow and spot any trends or oddities. Plus it connected to our various bank accounts and ERP system almost instantly. Overall the platform is very user friendly, so even team members without a tech background can learn it quickly.

Cons

It is constantly being improved and updated. When we first started, a few features we wanted were not there but the customer experience team was great about listening to our suggestions and has since added many of our requests.

“Offers a clear, unified financial view

Pros

In my role leading the finance team, having a clear, unified view of both our accounting records and our actual cash is essential. Before we wasted a lot of time reconciling the numbers and then explaining the discrepancies between our financial reports and cash statements to the board. But Panax closed that gap for us, making cash flow planning and managing our investments much simpler.

Cons

Getting everything synced with our ERP system and categorizing past transactions did take a little while. Having said that, the team did a great job and got it all completed in under two weeks.

“Cuts down manual tasks efficiently

Pros

It cuts down on a lot of manual tasks, requires no help from the IT department and delivers a live snapshot of our cash. Overall this lets our entire company operate more efficiently.

Cons

The cash forecasting tool was missing a few fine-tuning options initially but it looks like they are actively working on improving it.

“proactive alerts prevent oversights

Pros

The proactive notifications are the best as they keep us informed so we can make quick, effective decisions without the fear of overlooking something. Their support team is also amazing, when one of our bank feeds disconnected, they contacted us first and guided us through getting everything reconnected.

Cons

So far I have not come across any particular issue that stands out to me.

“Works the best for me

Pros

It lets me see a complete and comprehensive view of my cash flow situation.

Cons

I honestly don't have any complaints as the product is truly excellent.

“AI-powered intelligent financial reporting

Pros

Panax platform's intelligent reporting, which feels like it is powered by AI, offers a whole new level of insight into our finances.

Cons

Getting everything set up at the beginning had a few tricky parts but we received a lot of support from their team to get through it.

“works well for a financial summary

Pros

You get a superb, at a glance summary of our company's financial status from the main dashboard.

Cons

This is not really the platform's fault but occasionally the data we get from the banks through their API can be a little inconsistent or delayed.

“Automated reporting is a lifesaver

Pros

The automated report generation is an absolute lifesaver as it has dramatically cut down on the amount of manual data entry we have to do.

Cons

For power users, the ability to really customize and tweak things feels a bit restricted.

“Real-time cash flow!

Pros

I like the ability to see our cash flow in real-time and the surprising simplicity of the setup process were both standout features. Getting everything implemented was much easier than we had anticipated.

Cons

The mobile app is not quite as full-featured as the desktop site. But on the plus side, the daily summary report they send to my phone is incredibly helpful.