We are using Artificial Intelligence and Machine Learning to forecast revenues and expenses on a monthly basis over a 12-month horizon. We do this every month, so the company has a rolling forecast not just an annual budget. We reduce the time, energy, and frustration in the "budget process" while providing an accurate forecast so management and employees can make smarter decisions and plan better.
Companies "budget" once a year and (1) they have high error rates, (2) lots of people are involved, (3) lots of friction between management wanting to increase revenues and decrease costs, while employees "sandbag" revenues and want more resources - both sides compensation are tied to results, and (4) budget is scraped at the end of the first quarter!
3 commercially available products - (1) CI Futures: semi-monthly forecasts of 800 commodities, currencies, and equity indices; (2) RevenueFlow: forecasting company's revenue; (3) CostFlow: forecasting company's costs even at the bill of material (BOM) component level.
Strategic Partnerships - in 4th quarter 2020 secured (1) Microsoft Co-Sell ready; (2) Oracle for Start-ups; (3) available on Bloomberg; (4) available on Refinitiv; and (5) in discussion with other large accounting and consulting firms.
Proof of Concepts (POC) - several POCs in negotiation and/or underway for RevenueFlow and CostFlow.
