Four questions to Bernd Thöne, founder and CEO of flowpilot
Why did you start flowpilot?
Before founding flowpilot I worked as a management consultant and project manager. I was always surprised at how inexperienced many companies were in dealing with their cash flow management. I witnessed that companies with stable business models had to declare bankruptcy because they had lost sight of the issue of solvency. Especially in medium-sized businesses, there is often a lack of knowledge, but also a lack of resources and tools to manage the cash flow professionally. These experiences gave me the idea to launch a software for cash flow management. With Sophie Schwalbe I have found the ideal partner on the technical side. She is co-founder and today CTO at flowpilot.
Which vision does flowpilot pursue?
We want to enable all companies to keep the cash flow under control at all times. Our passion is especially for start-ups and medium-sized businesses. With our tools small and medium sized companies can manage their financial resources just as professionally as big corporations with a well established treasury and controlling department. Our vision is that flowpilot significantly reduces the number of liquidity-related bankruptcies.
How does flowpilot work?
To get started, all you need to do is upload your existing accounting data. flowpilot sets itself up completely autonomously and displays the cash flow in a clear diagram. Of course bank data or data e.g. from CRM systems can be integrated as well. Based on the real data, the cash flow can then be planned into the future, whereby the effects can be seen immediately in the diagram. This way, financing gaps and potential bottlenecks can be identified very quickly and countermeasures taken in good time.
In the future, flowpilot will also be able to provide a holistic cash flow management. All information from different systems (e.g. accounting, banks, ERP and CRM) will be consolidated and using Artificial Intelligence (AI), flowpilot will create automatic forecasts for liquidity. flowpilot will serve the CFO and the management as a central control tool and provide tailor-made liquidity scenarios and information for decision-making. With flowpilot SMEs can finally close the gap to global players in terms of know-how and tools and establish cash flow management at the highest level.
flowpilot in the future – what is the path ahead?
We want to develop flowpilot into the leading software solution for proactive and holistic cash-flow management – not only in Germany. One of our strongest features will be the automatic cash flow and liquidity forecast based on artificial intelligence. In my opinion, a forecast in this form does not yet exist worldwide. This is why we are currently expanding our AI team. As a result, flowpilot will be the indispensable digital assistant for the CFO or the controller of our customers. Another goal is internationalization, but I don’t want to reveal too much here yet.