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Fluidly SIGNED

Intelligent cashflow management and forecasting platform providing insights for financial decision making of SMEs

Total Cost €

0

EC-Contrib. €

0

Partnership

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 Fluidly project word cloud

Explore the words cloud of the Fluidly project. It provides you a very rough idea of what is the project "Fluidly" about.

instrument    virus    made    firms    artificial    insights    intervention    owners    intelligence    pilot    accurate    suggested    actions    payments    background    sme    flow    lifeblood    software    risks    80    forecasting    draw    first    inaccurate    service    insolvency    uses    accountant    ultimately    either    interventions    assumptions    accuracy    remote    automation    away    sound    fluidly    posing    big    accounts    intelligent    rely    book    business    learning    strategy    plans    services    algorithms    provides    receive    whilst    projection    projections    notifications    anti    delivered    smes    cashflow    works    recommendations    50    house    mind    saves    additional    cash    market    weeks    supply    powerful    machine    peace    historical    accounting    keeper    validate    data    shortfalls    chain    failures    inability    poor    analytics    critical    expensive    few    platform    period    risk    fail    optimize    proactive    small    quality    time    balances    days   

Project "Fluidly" data sheet

The following table provides information about the project.

Coordinator
FLUIDLY LIMITED 

Organization address
address: 229-231, HIGH HOLBORN
city: LONDON
postcode: WC1V 7DA
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country United Kingdom [UK]
 Project website https://fluidly.com/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-08-01   to  2019-11-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    FLUIDLY LIMITED UK (LONDON) coordinator 50˙000.00

Map

 Project objective

Cashflow is the lifeblood of any business and the accuracy of forecasting is critical to avoid shortfalls in cash balances, ensuring that payments can be made and ultimately avoid insolvency. Whilst there is an increased focus towards improving cashflow management, the inability to manage cashflow effectively is still a significant cause of small business failure: 50% of SMEs fail in the first 5-years, with 80% of failures due to cashflow issues. Cashflow management is a complex process, commonly delivered either by a remote book-keeper or an expensive in-house accountant. SMEs have a poor quality of these services and receive accounts days or weeks after a period end. Moreover these traditional methods often rely on projections based on a few historical data and inaccurate assumptions, posing SMEs at high failure risk.

Fluidly is the first intelligent cashflow management software based on Artificial Intelligence and machine learning algorithms for accurate forecasting of cashflow in SMEs. Fluidly provides accounting firms and business owners with real-time insights about cash flow, its projection, associated risks and suggested actions. It enables accounting firms to provide additional service to SMEs - specific business recommendations according to big data and past actions. Fluidly saves time through automation and uses powerful data analytics with real-time notifications to draw attention to the risks, issues or actions that require further intervention of accounting firms and SMEs. Like an anti-virus software, Fluidly works away in the background providing peace of mind with proactive interventions when needed.

During phase 1 of SME instrument, Fluidly will establish a sound go-to-market strategy and a supply chain, and draft further development plans. In phase 2, Fluidly will optimize the platform with new features, and validate it through a large scale pilot with SMEs.

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The information about "FLUIDLY" are provided by the European Opendata Portal: CORDIS opendata.

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