Company Performance Metrics
At Bucks we are making a real time financial planning tool with AI. Our goal is to use AI to bring data from multiple sources to orchastate the information, create a financial brain, and generate financial forecasts and sceanarios. Today those are done by month end manually.
We live the problem as ex-CFOs and owners of an accounting and financial
outsourcing firm for mid size companies. We relied on team of junior acountants and financial analysts that manually inputted data from invoices into their ERPs. Financial planning was always done with outdated data and financial statements with errors for a bad input. The team wasted more than 18 thousand hours gathering information to have financial statements.
Today we help CFOs have cost and expenses in real time, to avoid depending on juniors accountants that input invoices into ERPs manually. Bucks connects with the tax entity in Colombia, brings the cost and expense invoices, classifies the accounting codes and calculates the taxes with AI. Currently this is 160X faster and 12X more cost effective than a team of junior accountants.
Soon with Bucks companies will pay all their incoming invoices with one transaction, not one by one, and connect with banks to reconcille their payments. This is the base for the first cash flow management tool in real time in Latam.
