Since the dawn of the computing age, we have all dreamed of intelligent machine assistants that handle critical tasks and lighten our administrative burden. For small business owners, there are almost no tasks more important or more cumbersome than accounting and cash-flow management. SMEs are increasingly playing a critical role in shaping the digital economy. It’s crucial to automate administrative processes supporting these businesses, the lifeblood of the global economy.

At Fluidly, Caroline, Johnnie and the team are taking advantage of two critical innovations, one computational and one structural, to bring intelligence to cash flow management and credit control. Advances in machine learning and open banking (enabled by initiatives like PSD2 requiring the creation of secure bank APIs) are the key ingredients to cracking the code on automated, intelligent accounting and cashflow management. When this technical feat is joined with a frictionless, satisfying user experience, you have the perfect mix for a business that changes the nature of small business operations.

On one hand, automated collections processes free up valuable SME finance team time. Tracking and reconciling invoices is mission-critical for rigorous cash collection, and it is now possible to unleash technology to perform these tasks. And on the other hand, wrapping the entire cashflow system in a layer of intelligence allows businesses to look into the future, smooth cashflows and anticipate a cashflow crunch far enough in advance to control its impact on the business.

Fluidly delivers its service to customers directly, and it also collaborates with accountants and accounting platforms to assist with ongoing monitoring and reporting. Fluidly is currently integrated with Xero, Sage and Quickbooks.

Fluidly is continuously innovating its core product to increase its intelligence and reporting capabilities. Kudos to the team for announcing their latest round of funding today. As investors, we are proud to join Nyca Partners and Octopus Ventures in supporting Fluidly and are excited to see how the team will continue to grow their footprint in the SME finance space.