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9Spokes Introduces Automated Cashflow Tool for Financial Organizations to Elevate Financial Insights for SMBs

By   ·  1 minute read

9Spokes, a leading global data platform, today announced the launch of its new Cashflow forecasting product, an advanced tool designed for integration within the digital platforms of financial organizations. This new offering provides small and medium-sized businesses (SMBs) with automated, predictive cashflow management and forecasting capabilities. 

A recent study highlighted that 70% of SMBs operate with less than four months of cash reserves, with 60% spending upwards of five hours weekly managing multiple cash flow tools. 9Spokes' Cashflow product not only simplifies this crucial task but also aligns with global trends towards open banking and open data, providing SMBs a comprehensive view of their financial standings across multiple bank accounts and various providers. 

Unlike traditional tools that require manual input and provide only historical data, the 9Spokes’ Cashflow product leverages advanced machine-learning algorithms to automatically pull historical cash balance data. It aggregates data from multiple sources, including cash balance history and forecasts from various bank accounts—even those held across different financial institutions—giving SMBs a complete view of their current and future cashflow. 

"The financial landscape is evolving, necessitating tools that harness open banking data to drive strategic insight," said Kevin Phalen, Executive Chairman of 9Spokes. "Our Cashflow product empowers SMBs and financial organizations with the automated, data-driven capabilities needed to navigate and thrive in this changing environment." 

Key Features and Benefits: 

  • Automated Insights: Leveraging advanced machine learning algorithms, the tool provides predictive cashflow forecasts and visualizations. This automation minimizes manual intervention, enabling SMBs to navigate financial landscapes with unprecedented accuracy and confidence.  
  • Pre-Built and Configurable: This ready-to-use solution is configurable to meet the diverse needs of the financial organization, ensuring seamless integration into their existing workflows and systems for their SMBs. 
  • Comprehensive Financial Overview: SMBs receive a holistic view of their financial health, allowing for better cashflow forecasting and strategic decision-making to optimize financial operations. 
  • Forward-Looking Insights: The tool can equip credit and lending teams at financial organizations with predictive cashflow data, improving credit decision-making and risk management.  
  • White-Labeled Innovation: Financial organizations can offer this cutting-edge tool under their own brand, enhancing customer loyalty and positioning themselves as leaders in financial support and innovation. 

The 9Spokes Cashflow product is now available for integration by financial institutions and fintech firms globally, promising to transform the way SMBs manage their finances and make strategic decisions