Leawood-based C2FO formed a partnership that enables it to give customers access to ForwardAI’s cash flow forecasting and planning tool Predict as a Service.
The partnership allows C2FO to integrate cash flow forecasts within its existing online platform, allowing clients to streamline their day-to-day cash flow management and operations through one application. The partnership with Predict as a Service helps predict and prevent the cash flow problems that more than 82% of failed businesses cited as a factor for their failure.
“It’s a general ledger system that tracks all the cash entries that are happening, so I can see the bills that are due to a supplier, and I can see the bills that the supplier has to pay out,” said Ragui Selwanes, chief product and technology officer for C2FO. “I can see that I’m expecting money to come in from a retailer three weeks from now, but I have a demand on my cash for $10,000 today. I can see I’ve got a shortfall happening, then go to the C2FO market and try to accelerate some of the bills due to me by offering a small discount.”
ForwardAI built integrations to ensure Predict as a Service is compatible with most major Enterprise Resource Planning tools and accounting systems, making it easy for customers to get it set up.
The project to launch Predict as a Service on C2FO’s platform is in the beta stage, and it aims to go public with full accessibility in the third or fourth quarter.
“We’re pretty excited about the partnership and the value that we create for our customers,” Selwanes said. “The ability to make educated predictions about the future state of cash flow will be priceless for our customers daily, but in particular as they continue to navigate the many challenges all businesses are currently facing due to supply chain woes and inflation.”
