ForwardAI, C2FO to Provide Cash Flow Forecasting Tech to SMBs

ForwardAI, a Fintech providing aggregated access to accounting and business data and analysis, recently announced its partnership with C2FO, which claims to be the largest global platform for working capital.

Through the collaboration, C2FO’s small business customers will “gain access to ForwardAI’s premium cash flow forecasting and planning portal, Predict as a Service™.”

ForwardAI’s API technology is “designed to help Fintechs, lenders, and banks integrate small business cash flow forecasts with existing online portals and assist business clients in staying up to date on upcoming, due, or past-due customer payments.”

This partnership “enables C2FO to integrate cash flow forecasts within its existing online platform, creating a single application for clients to streamline their day-to-day cash flow management and operations.”

Ragui Selwanes, chief product and technology officer for C2FO, said:

“Our partnership with ForwardAI bolsters the features that the C2FO platform offers to our customers with a new cash flow forecasting module. 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.”

Nick Chandi, CEO and co-founder of ForwardAI, remarked:

“We’re thrilled to announce our partnership with C2FO, the world’s largest platform for working capital. Cash flow forecasting remains difficult for many business owners and historically meant spending hours diving into complicated spreadsheets. Direct accounting data-based cash flow forecasting allows for deep business insights and will help C2FO’s customers manage their working capital even more efficiently.”

By providing daily, weekly, and monthly cash flow forecasts, a ForwardAI-enabled online platform “allows business owners to try new business pivot scenarios and visualize the impact on their cash flow, including adding or releasing employees, planning loans, selling/buying equipment, temporarily adding or changing transactions, reviewing outstanding bills and invoices, and many other factors that impact a business’s bottom line.”

With more than 82% of failed businesses citing cash flow problems as a factor, ForwardAI’s technology can “help predict and prevent cash flow problems before they happen.”

As noted in the update, ForwardAI has also “completed the System and Organization Controls (SOC) 2 Type 1 certification, which was developed by the American Institute of Certified Public Accountants (AICPA).”

Becoming SOC 2-certified is a rigorous, self-imposed process that underscores ForwardAI’s commitment to upholding strict IT security protocols that “protect its systems and customer data from unauthorized access, and minimize incident impacts when needed.”

SOC 2 is “the gold standard in the financial services industry and – given its voluntary nature – a key differentiator for fintechs that collaborate with financial institutions.”

As mentioned in the announcement, ForwardAI is focused on “improving access to aggregated accounting, financial, and business data for banks, lenders, and fintechs.”

With leading small business software integrations available, the intelligent PreciseMatch™ tech, deep client analysis, forward-looking data insights, and a complete suite of calculated KPIs and ratios, ForwardAI customers can “turn client intake and assessment into only three quick steps.”

Solutions available “include an API, a partner portal, and a client-facing cash flow management and planning tool.”

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