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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.

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

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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