Software-as-a-service FinTech Kyriba stated last Thursday that it has expanded its suite of cloud-based financial and information technology capabilities by adding an artificial intelligence cash-management tool (Sept. 15).
According to the statement, the technology, named Cash Management AI, “improves firms’ cash management and forecasting skills” by using data science to estimate cash availability “with enhanced speed, control, and dependability.”
According to Jean-Baptiste Gaudemet, senior vice president of data analytics at Kyriba, “CFOs are expecting higher precision and dependability from their cash projection due to the increased market volatility.”
Machine learning is one of the AI-driven technologies Kyriba has integrated into its new tool to increase projection accuracy. According to Kyriba, another function allows users to modify confidence levels to improve calculations. Customers receive dashboards as well to view the most recent statistics.
An inaccurate projection results in underinvested funds and ineffective borrowing as interest rates continue to increase. In order to maximize corporate liquidity, CFOs are seeking increased confidence in their cash predictions due to the rising opportunity cost of cash, according to a prepared statement by Bob Stark, global head of market strategy at Kyriba.
the San Diego area In its marketing brochures, Kyriba claimed to handle 25 million payments every day and had 2,500 clients in 100 different countries.
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.
