To help those who own small companies with greater power over their finances, Monit is rolling out its mobile finance platform on Tuesday (Sept. 15). The predictive intelligence firm says it harnesses “patent-pending” forecasting infrastructure brought together in an instinctive mobile package, according to an announcement.
“Cash is king, especially for small businesses, so we created a way for small business owners to keep tabs on their current cash position, and predict where it will be down the road, all easily available on their phone,” Monit Co-Founder and CEO Steve Dow said in the announcement.
Monit says it brings together a company’s past accounting information with the aims, anticipations and “future-facing events” of an owner of a small to medium-sized business (SMB). It provides cash flow predictions, customized suggestions such as making the most out of a Paycheck Protection Program (PPP) loan and constant tracking of important business indicators.
The company’s platform includes a “dynamic cash flow view” to form an outlook. It also has a “key numbers dashboard” that has in-the-moment indicators such as funds owned to a business and funds that a business owes others in addition to other features.
While it is provided to small business customers via financial institutions, the company says it is temporarily available to companies “under duress or challenged by PPP forgiveness” on a complimentary basis through the web.
In March, Kabbage rolled out a new initiative that vows to assist SMBs in determining and forecasting cash flow as well as discovering excesses and shortages in cash. The new Kabbage Insights offering came on the heels of the firm’s rollout of Kabbage Payments that also works with cash flows for SMBs.
SMBs can harness Kabbage Insights in under 10 minutes to link their financial information to the program. After that time, the SMB can receive an analysis of past, present and future cash flow forecasts.