After a soft launch earlier this year, financial planning and analysis software provider Jirav earlier this month announced the official release of its Jirav Intelligent Forecasting (JIF) tool for accounting firms.
According to Jirav, early adopter firms have reported significant impacts on their ability to advise clients on critical financial decisions, resulting in new revenue opportunities and more efficient operations.
JIF leverages artificial intelligence and machine learning to automate the forecasting process, helping firms quickly develop forward-looking financial plans based on historical data, the company says in a media release.
“Firms are reporting that they’re able to quickly create accurate projections with JIF, answer pressing business questions in seconds, give optics into cash movement, and support future business growth—all with minimal setup,” Jirav said. “More advanced forecasts built with proprietary firm advisory insights can then be added to the client engagement.”
For accounting firms facing talent shortages, JIF automates the labor-intensive forecasting process. It enables faster, high-quality client advice, helping firms scale their services without increasing headcount, according to Jirav.
“This balance of speed and accuracy makes JIF a powerful tool for firms looking to expand in a challenging environment,” Jirav said.
While JIF can instantly generate forecasts with a single toggle, a driver-based model built by FP&A staff is still appropriate for some clients, the company says. Firms have the option to customize forecast methodologies for different departments or ledger accounts in a business. Jirav’s vision is to be able to give firms the flexibility to modify and white label the technology for their own firm, the company added.
“Our customers made it clear that they want AI to accelerate their forecasting services, but they also value the ability to layer in their own market intelligence and expertise.” Jirav CEO Michael Morrison said in a statement. “JIF offers the perfect balance—it gives firms a strong prediction while allowing them to incorporate their experience and client interactions to fine-tune the results with additional forecasts. This approach ensures impactful insights, enabling firms to scale like never before.”
More information about JIF can be found here.
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