Webcash's AICFO Offers Real-Time Runway Management Like ChatGPT
Small and medium-sized enterprises (SMEs) and startups often face challenges in managing their finances due to limited resources, making it difficult to hire a dedicated Chief Financial Officer (CFO). In addition to managing income and expenses, accurately predicting the company’s "runway" is a constant struggle, complicating their financial operations.To address these challenges, a company has launched a platform leveraging generative AI. B2B fintech specialist Webcash, led by CEO Kang Won-joo, unveiled its new AI financial assistant, "AICFO," on the 17th, specifically designed for CEOs and CFOs.During the launch event at the Conrad Hotel in Yeouido, Seoul, Webcash Vice Chairman Yoon Wan-soo introduced the AI-driven financial assistant solution, AICFO, stating, "We aim to set a new standard in corporate financial management with our AI assistant, which is tailored specifically for this purpose." He further explained, "This project represents a three-year investment of KRW 10 billion, and we are confident that we have created the best AI assistant for corporate financial management."AICFO is a solution that collects real-time financial data to monitor a company’s financial status and utilizes generative AI to predict and analyze cash flow. It offers 24/7 monitoring from anywhere, providing financial data in real-time. This flexibility makes it particularly useful for CEOs and CFOs on overseas business trips, offering cost-saving benefits as well.According to Vice Chairman Yoon, AICFO distinguishes itself from other services like Salesforce’s Einstein by being an entirely independent AI service. It is specifically designed for CEOs and CFOs rather than for lower-level staff, simplifying the service’s functionality. The use of a mobile-centric interface further highlights this focus.Yoon emphasized, "The landscape of the financial market has completely shifted. We are now transitioning from an era of manual work to one where we work through speech commands, fundamentally changing how we operate." He added, "This is our first product launch since the introduction of 'Kyungri Nara' in 2017. The emergence of ChatGPT in November 2022 gave new clarity to our previously uncertain project. We aim to expand into the global market by broadening our reach with AI-driven assistant software."