Prediction technology explained

Forecast? No Predict? Yes

Predict is next-gen technology to help you to run your business. It will give you much more than traditional forecasting

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. 

Getting the numbers right

With Predict you will know where a predicted number has come from and the reasons behind it.
ruNning a predicted business

Let’s talk about the accounting engine.

  • Just like Xero and QuickBooks

    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.

  • Cascading transactions

    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.

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Let's talk about VAT (or GST!)

  • Accuracy guaranteed

    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.

  • Cash and accruals schemes covered

    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.

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Live AMA Webinar

Not sure if Futrli Predict is right for your business? Ask us anything at our weekly AMA style webinar.

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Let's talk about the prediction engine

Predict does all of the hard work, by giving you a baseline complete forecast as a starting point.

Are we using machine learning or AI? No.

We start with your data

  • Your data is unique

    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.

    We pull every data point we can

    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.

    Accounts are analysed

    A sales account behaves differently to a rent, legal or wages account. The transactional algorithms change depending on this as well.

Predictions come next

  • Profit & Loss activity is predicted

    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.

    Payments are analysed for predicted cash flow

    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.

Can you make any changes to the predictions?

Yes of course. Prediction software enables you to play with your data - test out your own choices and see the impact. Going on gut instinct alone, is no longer reliable enough, when knowing if you’ve got enough cash in the bank for the future, or making that final decision on whether to take on new staff, change sale prices, increase costs, launch a new product line and more.

We’ve got different ways for you to customise your future views, including Google Sheets hot-links, so go nuts and get involved.

"That's just the way business is"
It isn't

Predict cash

Improve short term cash flow? Track cash in and out? Expand your business? Get funding or investment? Want peace of mind you can afford your debts?

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Predict sales

Sales trends for every account? Insight over your customers habits? Prepare for seasonality? Get on top of bad payers? Hire at the right time?

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Predict it all

Due bills impact on cash? Best time to pay? Understand your margins? Track profit? Predict VAT or GST? Pay yourself more? Sell your business?

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