Run customized forecasts with a click

An accountant's work requires a deep focus on the intricacies of a client's taxation and bookkeeping, making it challenging to analyze and predict the overall financial picture of the business, especially when an accountant may be managing over 30 clients. CEOs often want to discuss financial matters with a trusted professional, and these conversations frequently revolve around future outlooks. The accountant is often the go-to person for these discussions, knowing the company's finances best.

Traditionally, the accountant has focused on bookkeeping, taxation, and year-end closing. However, technology is changing this dynamic. Riskrate can assist in financial analysis and forecasting, enabling more in-depth and personalized financial services for clients. In this blog, we will explore how Riskrate can assist accountants in creating effortless financial forecasts for their clients.

Traditional quick methods of forecasting full-year result

Traditionally, creating financial forecasts required manual work, which was slow, expensive, and prone to human error. Financial data from multiple fiscal years is needed, with separate analyses required for variable and fixed expenses. Additionally, the cyclical nature of the business must be considered. Traditionally, if you need, for example, to forecast full-year results for preliminary taxes, you have used methods such as extrapolating realized results or using previous years' results. While these can work for stable businesses, they might not accurately depict seasonal fluctuations or rapidly changing situations.

Run customized forecasts with a click

Each client is unique, and therefore, forecasts must be customized. When an accountant has 30 or more clients, there isn't enough time to create a detailed forecast for each one. Riskrate solves this issue by running forecasts in seconds with AI.

Accountants can access all the necessary financial data to forecast a company's results. With Riskrate's reporting assistant, you can quickly generate customized AI forecasts for clients regarding sales, profitability, and overall performance using a simple dropdown menu. You can forecast for the full year, 24 or 36 months, etc.

These regular AI forecasts give clients valuable insights as they plan business expansions, investments, financing decisions, or evaluate their tax prepayments.

Run the AI forecasting model, modify it, or start from scratch

With riskrate, you can choose from Riskrate's automatic AI forecasting models from a dropdown menu, make modifications, or start from scratch. This results in a tailored report that offers clients a clear overview of their business's future.

Riskrate uses AI and automation to streamline the forecasting process. It automatically analyzes a company's financial data, identifies business cycles, and understands how variable and fixed expenses behave differently. Riskrates forecasting models learn from historical data and produce realistic forecasts accurately in seconds.

AI is driving forecasting

AI offers many benefits in forecasting: it reduces manual work, speeds up the process, and improves forecast accuracy. With Riskrate, you can provide deeper financial analyses and concrete forecasts, deepening your client relationship.

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