Teemu is a CEO of an awesome Fetch My Stuff, a last-mile service for homes that picks up your stuff right from the home door and makes delivery more sustainable by optimizing routes using their own technology.
In the future, we are expanding to peer-to-peer, so that Anna can order Fetch My Stuff -delivery she sells strollers, golf carts, or drums to Mikael.” Teemu told me “This idea came from our customers, who we listen to very carefully.”
Teemu already has the data, but…
Accurate prediction on 90-day money flow is critical to Teemu, but as a CEO of a scale up, he really doesn’t have time to slicing and dicing of business data on spreadsheets to get insights on how his customer buys and pays, how he spend the money, and predict how the future cash flow looks like.
Outgoing payments are easy to forecast in spreadsheets, but it’s time consuming and sensitive to typos. Incoming cash, however, is a problem. Teemu has over 100 customers whose purchases and payments are sporadic: customers buy and pay differently, and their behaviour changes all the time. It is impossible for Teemu to predict the future using spreadsheets.
No more sweatings about money flow using machine learning
Here’s where machine learning can help him. But machine learning needs a huge amount of data to be reliable, and a small business, like Fetch My Stuff with over five million euros revenue, may not have enough data for that.
riskrate can solve this problem using network effect. riskrate works in sync with tools Teemu already uses and analyzes a wealth of his data, using over 80 000 companies’ business data, millions of invoices, and superior machine learning models to tell accurate insights on Fetch My Stuff money flow.
More money to scale faster
Not only Teemu gets superior 90-day cash flow prediction in seconds but he gets accurate insights about churn, burn and late payments. He can boost retention by reacting faster than competitors and thanks to visibility, instead of keeping extra buffers on the bank account he can invest that money to scale Fetch My Stuff faster.
Writer Päivi is the CEO and co-Founder of riskrate, which gives you insights on how your customer buys and pays, how you spend your money, and predict how the future cash flow looks like.
riskrate is part of Helsinki Fintech Farm Community. Learn more from our website.
