Tide, a London-based business financial platform, will launch Cashflow Insights this month to help small business owners optimise their cash flow.

The new tool will help businesses mitigate delays in payments, improve their credit score and get recommendations for credit products appropriate for their businesses.

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Cashflow Insights will enable business owners to improve their cash flow by providing quick, easy-to-digest insights and predictions on how their business is doing and recommending actions to take in advance of any potential shortfalls.

The product will also help business owners to access the right kind of products to keep cash flow steady, such as Direct Debits for invoices, as well as credit products that are right for their business – whether they need to grow or stay afloat.

Cashflow Insights will first be made available to existing Tide members, using their account data to predict what their balance will look like over the next 30 days.

The product will then use Open Banking technology to launch to non-Tide members in the coming months.

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Via Open Banking, Tide will be able, with the business owner’s permission, access transaction history from other financial solutions to provide an accurate prediction.

The product will have three key aspects:

  1. Business health-check – understand the business’s financial position, with a view of all outgoing and incoming payments, as well as seeing the probability of invoices being paid on time.
  2. Stay in control of your finances– see predictions for what cash flow will look like over the next 30 days, receive a list of actions that could be taken to get cash flow into a healthier state.
  3. Hassle-free access to financing – see credit products from Tide and our partners that the business is eligible for. Credit checks with Tide and our partners mean the member will only see products they are eligible for to make the application process quick and easy.

Initially, Cashflow Insights will be free to Tide members and non-members.

Tide has over 350,000 SME members and over 410,000 business accounts. Since it was founded in 2015 and launched in 2017, Tide has raised investment from major backers including Anthemis, Augmentum, Creandum, Goodwater, Jigsaw, Latitude, LocalGlobe, Passion Capital, SpeedInvest and The SBI Group.