Predict’s world-first 5-way forecasting approach will predict a business more accurately that a human can.
The market leading, all-in-one forecasting and reporting suite with live updating dashboards and templates
The crux is, next-gen means: No. Effort. On. Your. Part. Every day it does a tonne of stuff that you'd need to hire a team of people to do. But for the curious out there, you might want to know what the next-gen bit actually means.
Predict’s backbone is an accounting engine that works just like your accounting software. It creates a profit and loss, balance sheet and cash flow statement automatically from your historical and predicted data.
Every time a predicted transaction is created, it’s like a pinball that hits lots of other areas, creating automatic impact calculations across things like accounts payable, VAT, net profit, gross profit, current year earnings and so on. This is so important, because it is what gives you the full picture of your business.
One of the most important things it does is to calculate your VAT (GST) accurately - you might think this is a small thing but it’s huge. Incredibly, every other cash flow forecasting tool in the market doesn’t do this.
You want to know what tax you owe, and if you're going to be able to afford it when it's due. You will, because Predict uses real accounting rules to calculate VAT from transactions in the past and the future.
Having researched thousands of small business data sets, we know that your uniqueness can also make your data irregular and machine learning doesn’t like that when predicting time series data.
Every day we pull at minimum, 2 years worth of daily P&L, Balance Sheet, Cash Flow reports and Bank statements.
We also pull every transaction: invoices, bills, cash, journals. They are separated and run through algorithms which understand their differences and possible patterns and trends.
A sales account behaves differently to a rent, legal or wages account. The transactional algorithms change depending on this as well.
Factoring in the data, algorithms and special rules above, the trends, patterns, anomalies, volume, frequency and amounts of activity is predicted, for 3 years. Which means we can calculate expected future sales, expenditure and profit. Cash flow software doesn't do this.
When something as simple as a sale is going to be paid is different from the P&L activity. We aren't relying on due dates. Algorithms are calculating the average days to pay for every individual customer and supplier. This is then aggregated by account. There may be invoices from 30 different customers who all pay you at different intervals - understanding this, means your cash in the bank prediction will be realistic and based on actual past behaviour.