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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

0

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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.

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

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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