Kabbage, which works with business analytics, has launched a new program that promises to help small- to medium-sized businesses (SMBs) calculate and predict cash flow and help them identify cash surpluses and deficits, according to a press release.
The new program, Kabbage Insights, aims to address “one of the most vexing problems faced by small business owners,” according to the release, and comes after the company’s other recent launch of Kabbage Payments, which also works with SMB cash flows. Both of those launches are part of Kabbage’s initiative to create a network of such products.
Any SMB can use Kabbage Insights “in less than 10 minutes” to connect their financial data to the program, the release states. From there, an SMB has access to an analysis of its historical, current and future cash flow predictions.
The product will continuously evaluate the cash flow over a 90-day period and organizes it in an easy-to-understand fashion in a dashboard. Customers can see their cash insights quickly and visualize net growth, without having to take the time to calculate it themselves.
Streamlining cash flow processes has been a priority for companies as of late. Kabbage found that almost two-thirds of SMB owners said much of their anxiety stems from cash flow concerns. The majority of those surveyed were not paying themselves for several consecutive months in order to improve cash flow.
Kabbage CEO Rob Frohwein said he can relate.
“As a small business owner for many years,” he said in the release, “I spent many sleepless nights trying to figure out whether I’d have the cash to pay my various expenses, including payroll at the end of the month, and it’s been a mission of mine to solve this ubiquitous problem for all small business owners ever since.”