NowVertical Group Announces Release of New AI Financial Agent in Update to NowHub-Finance Solution
Rhea-AI Summary
NowVertical Group (TSXV: NOW) has announced the release of a new AI Financial Agent as part of its NowHub-Finance solution update. The platform, which already serves half a dozen clients in Pharmaceuticals, Retail, and Hospitality sectors across the U.K. and Middle East, connects to over 300 data sources for automated financial reporting.
The new AI Financial Agent, powered by Microsoft Azure OpenAI, enables natural language interactions with financial data, allowing users to analyze scenarios such as potential Travel and Expense (T&E) policy impacts on cash savings. This feature is immediately available to existing users at no additional cost as part of the latest platform update.
Positive
- Integration of new AI Financial Agent at no additional cost to existing clients
- Platform already has established client base across multiple industries
- Partnership with Microsoft Azure OpenAI for secure AI capabilities
- Platform connects to over 300 data sources
Negative
- current client base (only half dozen clients)
- Geographic presence restricted to UK and Middle East
Toronto, Ontario--(Newsfile Corp. - December 17, 2024) - NowVertical Group Inc. (TSXV: NOW) ("NowVertical" or the "Company"), a leader in AI-driven data solutions, announces the release of its new Artificial Intelligence ("AI") Financial Agent as part of the latest update of its NowHub-Finance solution, an end-to-end analytics platform tailored for finance teams. This major AI based feature upgrade reinforces NowVertical's commitment to transforming data into business value - fast. The Company's proprietary NowHub platform, which has already half a dozen clients in the Pharmaceuticals, Retail and Hospitality industries in the U.K. and Middle east is even more relevant to clients by taking advantage of the latest AI technologies.
NowHub is NowVertical's proprietary analytics platform, purpose-built to ingest data and deliver actionable insights. With NowHub-Finance, finance departments seamlessly connect to over 300 data sources, transforming and consolidating data for instant, automated financial reporting. The platform supports a wide range of applications, from standard financial reporting to advanced budgeting, forecasting, and "what-if" scenario analysis.
AI Financial Agent: Chat with Your Financial Data
The newly launched AI Financial Agent integrated into the platform transforms the way finance professionals engage with their data. Leveraging the secure and robust capabilities of Microsoft Azure OpenAI, this intelligent assistant allows users to interact directly with their financial data through natural language conversations. The AI Financial Agent offers clients a level of flexibility and insight that simplifies complex data analysis and drives smarter, faster decision-making. For example, a finance professional can now simply query the agent to ask what cash savings could be realized in a given period had the client undertaken certain Travel and Expense ("T&E") policies, this action can be replicated for a number of potential T&E policy options, allowing executives to craft more effective policies, which would maximize cash savings, but minimize business disruptions.
"The addition of our AI Financial Agent brings NowHub-Finance to a new level of utility and intelligence for finance teams, enhancing the solution's value to our clients and becoming an indispensable part of their decision-making processes," said Mostafa Hashem, EVP of Product and Technology. "By integrating conversational AI with financial analytics, we're enabling finance teams to unlock the full potential of their data, allowing them to transform their financial data into business value, fast with AI."
Availability
The AI Financial Agent is available immediately as part of NowVertical's, NowHub-Finance latest platform update at no additional cost. Existing users can access this feature to start benefiting from interactive AI-driven financial analysis, and new customers are invited to experience how NowHub-Finance is shaping the future of financial data automation.
For more information about NowHub-Finance or to request a demonstration of the AI Financial Agent, please visit https://www.nowvertical.com/NowhubFinance.
About NowVertical Group Inc.
The Company is a global data and analytics company which helps clients transform data into tangible business value with AI, fast. Offering a comprehensive suite of solutions and services the Company enables clients to quickly harness the full potential of their data, driving measurable outcomes and accelerating potential return on investment. Enterprises optimize decision-making, improve operational efficiency, and unlock long-term value from their data using the Company's AI-Infused first party and third-party technologies. NowVertical is growing organically and through strategic acquisitions. For further details about NowVertical, please visit www.nowvertical.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Andre Garber, CDO
IR@nowvertical.com
Nikhil Thadani, Investor Relations and Communications
nik@sophiccapital.com
t: (289) 667-1977
Cautionary note regarding Forward-Looking Statements
This news release contains forward-looking information and forward-looking information within the meaning of applicable Canadian securities laws (together "forward-looking statements"), including, without limitation: expectations regarding the utility of the NowHub platform, the utilization of AI Financial Agent and the associated results on NowVertical's business, finances and operations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements are qualified in their entirety by inherent risks and uncertainties, including: adverse market conditions; risks inherent in the data analytics and artificial intelligence sectors in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions or dispositions; that market competition may affect the business, results and financial condition of the Company and other risk factors identified in documents filed by the Company under its profile at www.sedarplus.ca, including the Company's management's discussion and analysis for the year ended December 31, 2023. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234093
FAQ
What new features does NowVertical's (NOWVF) AI Financial Agent offer?
How many data sources can NowHub-Finance connect to?
Is there an additional cost for existing NowHub-Finance users to access the new AI Financial Agent?
In which regions and industries does NowVertical (NOWVF) currently operate?
