By Faith Ashmore, Benzinga
For small-to-medium-sized enterprises, also known as SMEs, protecting, predicting, and increasing cash flow is the lifeboat that will allow a business to succeed and flourish. However, data collection and analysis is essential to understanding cash management, and not every SME has the resources to predict accurately.
SMEs actually make up over 90% of businesses around the world and approximately half of employment. In the U.S., SMEs account for 44% of all US economic activity and produce the bulk of GDP output. SMEs are a huge part of the economy but are fundamentally lacking the tools to compete with larger companies that use AI and outsource accounting concerns to entire teams of specialists.
FatBrain AI (LZG International, Inc.) (OTCQB: LZGI) (“FatBrain”) is looking to change this reality and use AI to give SMEs an edge to succeed in cash management.
FatBrain is known for widening AI options for SMEs. The company has created a RansomProof AI software that ensures small businesses will be safe from cyberattacks; the free program is leveling the playing field between big businesses and SMEs. FatBrain has also launched an FX Transaction product that allows SMEs to optimize their foreign transactions and save money.
Recently, FatBrain acquired FinTech Alliance company, Predictive Black. Predictive Black supports SMEs in the UK with real-time cash management and financial insights, which helps promote overall business wellness. The SaaS platform uses AI to forecast revenue, costs, and cash for SMEs.
Why Is Predicting Revenue, Costs, And Cash Important For SMEs
SMEs oftentimes do not have the same emergency infrastructure as larger corporations and as such, they are more vulnerable to fluctuating economic changes. Whereas large companies like Microsoft (NASDAQ: MSFT), IBM (NYSE: IBM), and Nvidia (NASDAQ: NVDA) may have entire teams dedicated to making sense of economic data and planning accordingly, SMEs may not have the manpower or expertise to excel at predictive treasury management.
This is where FatBrain’s Predictive Black comes in. Predictive Black uses the latest AI to compile relevant industry and market data based on a company’s sector, peers, clients, and suppliers. The AI then creates a baseline and users have access to a “Scenario Planning” function that allows for “what-if” scenarios to be calculated and accounted for. For example, you can calculate if a supplier increases their prices or if you lose a few clients and how that impacts your revenue.
Each function is designed to improve speed, reduce risk and analyze real-time cash data. These tools can provide ease of mind for SMEs and give them the analysis needed to make safe and sound business decisions.
This article was originally published on Benzinga here.
FatBrain AI (LZG International, Inc.; OTC: LZGI) is the first and leading provider of powerful and easy-to-use AI solutions to millions of businesses of tomorrow driving the majority of the global economy, empowering them to grow, innovate faster and savemoney. FatBrain’s innovative solutions transform continuous learning, narrative reasoning, cloud, blockchain and Web3 technologies into auditable, explainable and easy to integrate products. FatBrain’ssubscription model allows all companies to deploy its advanced AI solutions quickly and easily, securely utilizing them on premises behind their firewalls or via cloud. The AI 2.0 pioneered by our teams is like WAZE for business growth, using advanced peerdynamics technology to automatically learn patterns from individual and peer behavior. This allows us to deliver coached, personalized AI solutions at hyperscale.
FatBrain unifies insights from SaaS applications, turbo-charged by peer and market dynamics:
1) Realize attainable goals from explainable peer performance.
2)Turbo-charge human expertise with superhuman AI insights.
3) Accelerate growth through the contributory network effects.
4) Simplify harnessing data across common apps and market signals.
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