back Back

Centime launches comprehensive cash flow control solution for SMBs

By Edlyn Cardoza

April 12, 2022

  • Boston
  • Cash Flow
  • Cash Flow Control
Share

Centime, FinTech, Cash Flow Control, SMBs, Cash Flow, General Ledger Applications, Intuit QuickBooks, Oracle NetSuite, Working Capital, Paycheck Protection Program, FNBO, Boston, USARecently, Centime, a Boston-based FinTech, launched Cash Flow Control: a solution built to help small and mid-sized businesses control and manage cash flow.

Effective immediately, Centime Cash Flow Control is available to all U.S.-based businesses using the financial General Ledger applications of Intuit QuickBooks and Oracle NetSuite.

The solution consists of several interconnected modules that work together to support the cash control lifecycle of a business.

  • Automated rolling 13-week cash flow forecasting uses artificial intelligence (AI) and machine learning to predict cash inflows and outflows.
  • Accounts receivable management provides increased visibility into payment delays, facilitates on-time payments through automated reminder campaigns, and drives online payments through an integrated merchant account.
  • Accounts payable management helps determine who, when and how to pay, with the goal of maximising working capital.
  • Integrated credit solutions facilitate bridging cash flow gaps and short-term working capital needed to support growth.
  • KPI monitoring provides the metrics and insights required to ensure robust cash flow performance.

Centime Cash Flow Control gives business leaders a clear picture of how each element of cash flow control affects the other in a real-time, rolling basis and taps into AI and machine learning to blend businesses’ historical data with industry trends to deliver visibility predictions, management and control.

“Businesses have opportunities to grow in good times and bad,” Centime founder and CEO BC Krishna said. “And in both good times and bad, cash makes or breaks businesses. For most businesses, cash flow management is poorly understood, overly complicated and inconsistently managed. Centime Cash Flow Control is a simple, easy to use solution that allows businesses to manage one of their most critical resources.”

Covid exposed the risks posed to businesses by poor cash management or an uncertain environment. As businesses across America continue to struggle with labour shortages, supply chain disruptions, inflation, and uncertainty in the world, they must take ownership of their cash. While the government’s Paycheck Protection Program (PPP) helped businesses bridge gaps at the height of the pandemic, and banks stepped in to accommodate their clients’ unforeseen stressors further, moving forward requires that business leaders gain control over all aspects of their cash.

Centime was founded just before the global Covid pandemic struck in 2020, creating unexpected disruptions while also opening doors to creative solutions. In the intervening two years, an extended team of 150 engineers, designers, product managers, finance professionals, payments experts and bankers from Centime and its strategic partner FNBO have worked closely to develop this unique, simple, yet comprehensive cash flow control solution.

A beta-testing initiative, Centime’s Early Access Program (EAP), provided valuable client feedback that has and continues to influence the features and functionality of Cash Flow Control — ensuring it indeed provides transformative, actionable insights for businesses.

“That’s the hope for a person like me, an average, small to mid-sized business owner and executive officer,” said Todd Murphy, CEO at Universal Information Services and a Centime EAP client. “Getting to a point in time when projecting my cash flow is simple, accurate, and meaningful to help me get a pulse on my businesses has been a revelation,” he said.

Carrie Zoucha, FNBO’s VP, commercial payments, who knows Murphy’s business as a member of the team that serves his banking needs, spoke to Centime’s product development collaboration with the bank. “From the very beginning, our partnership with Centime has been a relationship built on mutual trust, collaboration and innovation. At FNBO, we take pride in being customer-led and providing guidance to help businesses grow. Our partnership with Centime has allowed us to take a common problem that so many businesses face, and help build a solution to help them thrive. It’s been exciting to see Centime come to life, and particularly invigorating to hear about its impact from our customers.”

Previous Article

April 11, 2022

Tuum report states that banks are racing to meet consumer demand for embedded finance

Read More
Next Article

April 12, 2022

Scienaptic’s AI-powered credit decisioning platform chosen by Arkansas Federal Credit Union

Read More








IBSi Daily News Analysis

bahrain, islamic finance

April 17, 2024

Boston

Sovereign upgrades elevate Sukuk ratings; GCC debt markets on track to break $1tn barrier

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

NatWest partners with StoneX to enhance cross-border FX service

Read More

Today

Aurora Payments launches ARISE, a one-stop payment platform for SMBs

Read More

Today

URBN and Stripe to power online and in-person retail payments

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023