AI can help small businesses prepare for the unexpected
Nov 24, 2020
The majority of small business owners struggle with cash flow, and poor cash management is behind 82 percent of business failures. Using artificial intelligence to parse the data and make predictions allows owners to get a greater sense of their finances–in good times and bad. Nearly a third of business owners experience cash flow troubles so severe that they’ve been unable to pay vendors, loans, or even their employees. Data-driven forecasts from AI can combat this by preparing small business owners for unexpected cash flow issues, allowing them to prepare like proactively applying for a small loan to bridge the gap instead of panicking when it’s too late. When it comes to the high stakes of managing small business finances, knowledge is power. And by arming owners with all available data and information, AI helps small business owners expect, and prepare for, the unexpected.