AUCKLAND, New Zealand,
July 16, 2024 /PRNewswire/
-- 9Spokes, a leading global data platform, today announced
the launch of its new Cashflow forecasting product, an advanced
tool designed for integration within the digital platforms of
financial organizations. This new offering provides small and
medium-sized businesses (SMBs) with automated, predictive cashflow
management and forecasting capabilities.
A recent study highlighted that 70% of SMBs operate with less
than four months of cash reserves, with 60% spending upwards of
five hours weekly managing multiple cash flow tools. 9Spokes'
Cashflow product not only simplifies this crucial task but also
aligns with global trends towards open banking and open data,
providing SMBs a comprehensive view of their financial standings
across multiple bank accounts and various providers.
Unlike traditional tools that require manual input and provide
only historical data, the 9Spokes' Cashflow product leverages
advanced machine-learning algorithms to automatically pull
historical cash balance data. It aggregates data from multiple
sources, including cash balance history and forecasts from various
bank accounts—even those held across different financial
institutions—giving SMBs a complete view of their current and
future cashflow.
"The financial landscape is evolving, necessitating tools that
harness open banking data to drive strategic insight," said
Kevin Phalen, Executive Chairman of
9Spokes. "Our Cashflow product empowers SMBs and financial
organizations with the automated, data-driven capabilities needed
to navigate and thrive in this changing environment."
Key Features and Benefits:
- Automated Insights: Leveraging advanced machine learning
algorithms, the tool provides predictive cashflow forecasts and
visualizations. This automation minimizes manual intervention,
enabling SMBs to navigate financial landscapes with unprecedented
accuracy and confidence.
- Pre-Built and Configurable: This ready-to-use solution
is configurable to meet the diverse needs of the financial
organization, ensuring seamless integration into their existing
workflows and systems for their SMBs.
- Comprehensive Financial Overview: SMBs receive a
holistic view of their financial health, allowing for better
cashflow forecasting and strategic decision-making to optimize
financial operations.
- Forward-Looking Insights: The tool can equip credit and
lending teams at financial organizations with predictive cashflow
data, improving credit decision-making and risk management.
- White-Labeled Innovation: Financial organizations can
offer this cutting-edge tool under their own brand, enhancing
customer loyalty and positioning themselves as leaders in financial
support and innovation.
The 9Spokes Cashflow product is now available for integration by
financial institutions and fintech firms globally, promising to
transform the way SMBs manage their finances and make strategic
decisions. For more information, please visit www.9spokes.com/.
About 9Spokes
9Spokes is a global data platform that supports financial
institutions and fintech firms worldwide. By aggregating consented
business data from a variety of sources, 9Spokes helps businesses
harness powerful tools for better financial management and
strategic decision-making, driving transformation within the
financial sector.
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