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Fluidly SIGNED

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

Total Cost €

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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.

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

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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