Redbridge, the trusted advisor to finance and treasury departments, is working in collaboration with Verteego, an expert in artificial intelligence, to improve large companys’ ability to make forecasts.
Paris, 28 October 2020 – Redbridge and Verteego announce today that they are to collaborate to increase the use of artificial intelligence in cash flow forecasting processes within businesses.
Both companies intend to use artificial intelligence technology to automate recurring cash flow processes and generate more reliable short- and medium-term forecasts. The potential benefits of doing so include increasing companies’ visibility about their liquidity position and improving their ability to determine a more proactive financial strategy.
Data Scientists Team Up With Treasury Experts
The collaboration between Redbridge and Verteego brings together two areas of expertise – finance and machine learning – and creates a unique capacity to implement a financial project around artificial intelligence.
- In-depth knowledge of cash flow forecasting models and key cash flow variables
- Project led by cash flow experts
- Ready-to-use and customizable technology
- Interoperability with company IT systems (Enterprise Ressource Planning, Treasury Management System, etc.)
- Automation of recurring tasks and honing (Automated Machine Learning) of forecasting models over time
Teams from Redbridge and Verteego are working in conjunction with the cash flow and IT teams of client companies that are using the solution. Following exploratory analysis of a company’s data, the solution is then tested in the company’s systems to ensure it delivers value. The technology developed by Verteego helps improve companies’ decision-making capabilities by providing short- and medium-term projections of a group’s liquidity position. It creates scenarios, notably modelled on sales and how they are likely to develop, taking into account normal conditions as well as the possible effects of exceptional events such as natural disasters and public health crises.
“The COVID-19 crisis clearly demonstrates the need for companies to quickly acquire reliable cash flow forecasts so they can anticipate their liquidity needs and determine their financing strategy. Finance and cash flow represent excellent areas for the application of artificial intelligence technology: this is only the tip of the iceberg for our partnership with Verteego,” says Guillaume Roudeau – Senior Director, Treasury Advisor and head of the AI solution at Redbridge.
“As soon as a company decides it wants better forecasts, it can improve its activity and profitability. Artificial intelligence meets companies’ and organizations’ expectations by being quick to implement (it takes just 2–3 months to deliver our solution). By working in collaboration with Redbridge, our tool will be able to make accurate predictions, anticipate strategic flows and provide decision-making support to companies. The tool really helps create value when it comes to cash flow forecasting” added Rupert Schiessl, CEO and co-founder of Verteego.
Founded in 1999, Redbridge Debt & Treasury Advisory is a leading international financial management partner to corporations around the globe. Its teams in Paris, Geneva, London, New York and Houston have carried out more than 400 projects over the past decade to help companies optimize their finance and cash flow, from designing strategic solutions to implementing them on an operational level.
Founded in 2008, Verteego is an artificial intelligence solution editor helping organizations that want to improve the accuracy of their forecasts. Verteego specializes in data science, has developed a proprietary cloud-based platform and is dedicated to the use of artificial intelligence. It provides clients with a wide range of intelligent, ready-to-use business solutions, enabling them to transform their processes.
Working with companies across the retail, manufacturing, real estate and service industries, Verteego focuses on the value created by artificial intelligence and on producing societal, environmental and economic benefits.
Based in Paris and Nantes, 95% of Verteego’s 30 employees are data scientists, developers, project managers, UX experts, PhD holders or experienced scientific researchers.