Yodlee Brings Cash Flow App To The Cloud

The innovation efforts of cloud financial service provider Yodlee have resulted in a new mobile service to help businesses manage their cash flow. In an announcement made Tuesday (March 31), Yodlee revealed the launch of its Business Cash Flow with Forecasting Fin App.

The new service is available to businesses worldwide and offers real-time insight into their current cash flow status as well as predictive analytics that can forecast cash flow in the next three months. Additional features include charts and tables for businesses to visualize their current cash flow, the Forecasting Wizard that reviews year-over-year income and expense data, and the Cash Flow Report, which outlines actual data versus predicted data.

Being able to forecast a business’ cash flow, Yodlee said, is imperative if that company wants to successfully apply for a loan or take some other significant action with its funds.

“Having a strong pulse on cash flow is incredibly critical to the success of business owners,” said Yodlee VP Business Banking & Global Strategic Initiatives Nitin Gupta. “Yodlee’s Cash Flow with Forecasting gives business owners immediate insights into their financial health, allowing them to make more informed spending, investing and borrowing decisions.”

The app is part of Yodlee’s existing BusinessFinancialSolutions suite.

Cash flow visibility may be imperative to the success of a business, but corporations often struggle with gaining real time insight into their funds. Many innovators have focused on digital cash flow solutions for SMEs, but new research from Cashfac Technologies and Visa revealed that some of the largest companies do not always have a greater visibility than small businesses into cash flow.

According to their survey, two-thirds of big businesses across the Asia Pacific region did not have real time access to cash flow data. For those that did have access, only about half of their funds were visible.