Kyriba (“the Company”), a global leader of cloud-based finance and IT solutions, today announced the launch of Cash Management AI, a new solution based on Artificial Intelligence, which uses data science technologies to predict cash availability with increased speed, control and reliability.
According to a recent survey by IDC, 93% of finance leaders leverage real-time insights and 99% of have adopted business intelligence to make better liquidity decisions. The report finds that finance leaders without a strong data strategy incorporating APIs, BI and AI become burdened by inferior solutions and are unable to consume, analyse and leverage terabytes of structured and unstructured data efficiently.
“With increasing market volatility, CFOs are demanding greater accuracy and reliability from their cash forecast,” said Jean-Baptiste Gaudemet, SVP of Data Analytics at Kyriba. “Data science and analytics are needed to learn from the vast amounts of information that finance teams manage every day. Artificial intelligence helps CFOs harness data to make more informed, rapid and effective decisions.”
“As interest rates continue to rise, an imprecise forecast translates to underinvested cash and inefficient borrowing. Since the opportunity cost of cash is also increasing, CFOs are demanding greater confidence in their cash forecasts to optimise enterprise liquidity,” said William Goodall, VP of Sales Northern Europe at Kyriba.
Key features of Kyriba’s Cash Management AI include:
• Artificial Intelligence (AI): Using built-in Machine Learning, Cash Management AI automatically learns from historical data and continuously improves predictions with new data
• Confidence Levels: Users can adjust forecasts in real time by selecting the optimal confidence level based on the organisation’s strategy and risk profile
• Business Intelligence: Users can view data in dashboards available as standard with flexible filters, adjustable forecast periods, cash budget calculations, and more
“Artificial intelligence increases data validity and accelerates the capacity to view and analyse data in a real-time and dynamic way with considerably more reliability, making it possible to better forecast cash flow at the company or group levels,” said Antoine Fulpin, former Group Treasurer of numerous listed international companies and Advisor to the General Management of Kyriba in Europe.