As per the latest reports, a new data-as-a-service (DaaS) platform has been introduced by the Miami-headquartered Fintech company Calculum that is focused on assisting organizations in arranging better payment terms with business associates and on aiding their cash flow.
Backed up by artificial intelligence (AI) and machine learning (MI), the platform evaluates different aspects of an organization’s purchasing counterparty or supplier before the company takes any steps regarding improving its payment terms & approaches.
Important elements that get utilized by this cloud-based platform include the economic strength & credit risk score of an organization, the size, a client’s leverage, as well as the nation and the area a firm operates in.
The platform also enables organizations to check how they charge against their competitors on a large bunch of data points, such as payment terms, days payable outstanding, days sales outstanding, and general cash conversion cycle.
The information about the expenses can be imported onto the platform by users through APIs, or by sending Excel or CSV documents through a safe & secured data feed, along with the Ada platform then attempting to eliminate duplicate errors before running evaluation.
At the same time, according to Calculum’s CEO Oliver Belin, the platform solution will likely utilize data from external sources. Until now, he explains that the platform already has total information on around 650,000 organizations worldwide.
The platform is focused on Fortune 500 or mid-market organizations involved in the use of working capital solutions, especially supply chain finance (SCF).
Calculum also explains that the platform “avoids manual work and efficient term negotiation in the supply chain finance industry, discovering millions in working capital and creating free incomes.”
On the funding side, the arrangement focuses on banks, private equity institutions, as well as fintech and advisory firms that facilitate treasury and supply chain services to the corporate customers.
The Ada platform’s first customer since going live is a “major Asian Bank”, Belin explained.
Highlighting significant loan providers in the trade finance industry, he explained, “Tragically these banks frequently focus on similar top corporate names, then at the end, it’s consistently a battle for who has the best connections, who has the favorable pricing, or the greatest capacity.”
He further added, “With the help of this arrangement, they can separate their offerings and provide new experiences to the customers. Or when the bank establishes financing, we can provide extra bits of knowledge on the best ways to carry out these financing programs effectively and proficiently. ”