'AI CFO' Conducts Corporate Financial Analysis

[Asia Economy Reporter Donghyun Choi] Financial analysis solution startup Aicy announced on the 7th that it has launched Korea’s first artificial intelligence (AI)-based monthly financial analysis platform, ‘Aicy.’

Aicy is a subscription-based financial analysis service platform that provides corporate financial analysis reports through AI and robotic process automation (RPA) technologies. The platform name combines ‘AI’ for artificial intelligence and ‘Efficiency’ to embody the corporate goal of ‘maximizing corporate efficiency through artificial intelligence.’

The new platform adopts an AI approach to drastically reduce the time and cost previously required for financial analysis by simply uploading Excel files, while providing professional and trendy monthly financial analysis reports. By leveraging ERP (Enterprise Resource Planning) development expertise along with accounting and financial professionalism, the completed service lowers the entry barrier for companies to conduct financial analysis.

Startups, which are busy forming separate finance teams, can systematically manage early-stage financial information and financial statements to increase credibility with future investors when using the service. Additionally, before or during investment attraction, they can accurately understand their financial status to act and communicate strategically.

Small and medium-sized enterprises (SMEs) and mid-sized companies that have sufficient resources but want to use their time efficiently can expect optimized work processes and cost reduction effects through Aicy’s monthly financial analysis service. Instead of costly external consulting, they can immediately utilize necessary financial information such as Aicy’s Return on Equity (ROE) 4-WAY analysis and corporate valuation according to each situation, while also reducing resources spent on overtime work by practitioners.

Furthermore, investors such as venture capitalists (VCs) investing in companies can use the platform for post-investment management of startups and others. They receive highly reliable management performance reports by converting the company’s original ledger information into reports without modification, and can quickly share financial reports monthly through the Aicy platform instead of managing them via email, maximizing the efficiency of post-investment management.

Amy Lee, CEO of Aicy, said, “Aicy is a platform that empowers companies to own and manage their financial information independently, even without expertise, time, or personnel.” She added, “We expect many CEOs to quickly identify points of financial inefficiency through Aicy and achieve faster improvements and growth.”