New AI Planning Tool Is a First in FinTech, Modernizes Procure-to-Pay Process
HOUSTON--(BUSINESS WIRE)--Sep 24, 2019--
Houston-based FinTech firm Complete Intelligence is turning heads in the industry with its new Artificial Intelligence offering. The revolutionary system allows companies to visualize their product lines, analyze their cost centers and forecast changes in costs, all in one platform.
“Based on feedback from our clients, we’ve been astonished to learn that typical industry forecasts have error rates over 20%. This makes it difficult for companies to plan effectively,” said CEO and Founder Tony Nash. “We set out to reduce that error rate and are thrilled to demonstrate that we can dramatically reduce client forecasting risk by 5 – 10x – bringing error from 20-30% down to 2-5%. That can help our clients find millions in cost savings. This platform has created tremendous excitement because the business impact is meaningful and there isn’t another machine learning technology like this in the industry.”
CostFlow TM offers comprehensive procurement data analysis coupled with cost forecasting, so companies can reduce risk for more intelligent planning. Users can easily identify exactly how costs will change within the supply chain and procurement process. Additionally, the tool can forecast a product substitution to see how a change in supplier or raw material may affect overall cost and performance.
Companies most set to benefit from the new technology are those in the food and beverage, natural resources, technology hardware, consumer goods, and industrial manufacturing sectors.
“It encourages me to see Houston-based Complete Intelligence leading the charge in FinTech innovation. It’s proof that Houston has the talent, expertise and client base to support a thriving tech market,” said Gina Luna, Complete Intelligence Board Member and CEO of Luna Strategies.
CostFlow TM is the first of four planning modules the company has slated for launch between Third Quarter 2019 and Second Quarter 2020.
About Complete Intelligence
Using advanced Artificial Intelligence, Complete Intelligence provides highly accurate cost and revenue forecasts fueled by billions of enterprise and public data points. Its innovative cloud platform gives companies insight into their future, so they can plan for success. Complete Intelligence helps companies to stop guessing, start planning and succeed. Find out more at www.completeintel.com.
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SOURCE: Complete Intelligence
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PUB: 09/24/2019 09:00 AM/DISC: 09/24/2019 09:01 AM