Software-as-a-service FinTech Kyriba said last Thursday that it has added an artificial intelligence cash management solution to its range of cloud-based financial and information technology capabilities (Sept. 15).
By employing data science to anticipate cash availability “with increased speed, control, and reliability,” the system, known as Cash Management AI, “improves organizations’ cash management and forecasting skills,” the announcement claims.
The heightened market volatility, according to Jean-Baptiste Gaudemet, senior vice president of data analytics at Kyriba, has led to CFOs seeking greater accuracy and reliability from their cash projection.
One of the AI-driven technologies Kyriba has included in its new tool to improve projection accuracy is machine learning. Users can alter confidence levels in another function, according to Kyriba, to enhance computations. Additionally, customers get dashboards where they may check the most recent information.
As interest rates rise, an erroneous estimate leads to underinvested money and inefficient borrowing. According to a prepared statement by Bob Stark, worldwide head of market strategy at Kyriba, CFOs are seeking higher confidence in their cash projections in order to optimize business liquidity due to the rising opportunity cost of cash.
San Diego region In its marketing materials, Kyriba stated that it processed 25 million payments daily and had 2,500 customers in 100 different nations.
Machine learning, which depends on previous data to increase projection accuracy, is one of the AI-driven services Kyriba has included in its new tool. Users may also modify confidence levels to improve computations, claims Kyriba. Customers may view dashboards that display the most recent data.
