ForwardAI Predict (as a Service)
Cash flow is one of the most critical metrics a business has. For small businesses, in particular, keeping a close eye on a cash flow forecast is one of the best ways to stay financially healthy and thriving. Historically, cash flow forecasting was difficult for small business owners – it meant hiring skilled accountants for detailed analysis and/or spending hours pouring over complicated spreadsheets and doing manual legwork.
With the advance of artificial intelligence and rising consumer acceptance towards data sharing, ForwardAI is helping break down barriers and make insights like cash flow forecasts accessible to the clients of a financial institution.
Predict is a cash flow forecasting and planning tool for financial institutions or fintechs that want to extend their business offerings by offering predictive data solutions to their clients. Features include cash flow predictions, business financial scoring, projection comparison, and custom business pivot scenario building. ForwardAI Predict is also available as a free limited tool for small business owners and accountants through the ForwardAI website.
Using the advanced "Predict-as-a-Service" solution, banks can integrate cash flow forecasts with their existing online portals and help business clients stay up-to-date on upcoming, due, or past-due customer payments. Our technology adds value to the bank's solutions and convinces business clients to spend more time on their banking platform instead of looking to external apps for cash flow forecasting, planning, and management.
Here are some specific ways that ForwardAI's Predict-as-a-Service can be utilized to benefit business clients:
·Display targeted offers/custom credit deals (Get a loan, line of credit, accounts receivable (AR) financing, finance an invoice, etc.)
·Early warnings to clients about predicted cash flow gaps
·View Daily, Weekly, and Monthly cash flow forecasts for up to one year in the future and Monthly forecasts for up to three years
·Allow clients to try new business pivot scenarios and visualize the impact on the cash flow like adding/releasing employees, plan loans, sell or buy equipment, temporarily adding or changing transactions, and more
·View results of multiple projections and compare them
·Detailed views of outstanding bills and invoices
·Use interactive financial modelling to test business's health and prepare for economic downturns