chata.ai launches with QuickBooks Online, taking on the ‘dirty work’ of data query and analysis
March 27, 2018 (Calgary, AB, Canada)- Business is about to get more transparent and decisions easier for 3.4 million QuickBooks Online subscribers as a powerful new AI app starts its roll out across the accounting software ecosystem.
Capitalizing on the enormous amount of business data that is not easily accessed, Calgary-based and homegrown SaaS company, chata.ai is a simple-to-use analytics and reporting tool that does the ‘dirty work’ of data access, search and analysis.
The conversational user interface connects directly to the user’s accounting data via the cloud. The user can “just ask” questions like:
- Which service brings in the most revenue?
- Show me invoices from the last two weeks
- What were my expenses last month?
- Average days to pay per customer
- Compare total sales per product for the last three months
chata.ai quickly returns an answer and offers additional charting and reporting functionality at the click of a button or a typed request.
With traditional technology, the typical process of finding such answers requires tedious tasks – exporting data, fumbling through spreadsheets, doing manual calculations, or learning complex business intelligence tools. Not fun.
“We are automating the absolute worst part of financial and operational data interaction,” says chata.ai CEO and Cofounder, Kelly Cherniwchan. “Our mission is to democratize data access for everyone.”
Although chata.ai is very simple-to-use, the power is in the backend with a proprietary, advanced Natural Language Understanding (NLU) engine. “Natural language processing is one of the most difficult areas in machine learning and AI because it involves obscure, inconsistent, and unstructured data,” said Cherniwchan. “But, with difficulty there is opportunity.”
chata.ai’s Director, Marketing and Customer Success, Kari Viccars, explains the SaaS has two distinct use cases. “Easy access to insights from data, such as having a better handle on monthly costs, empowers small business owners and can mean the difference between bankruptcy and turning a profit.
“The same tool gives accountants and bookkeepers the insights, time savings and reporting capability that can take them from simple number crunchers to trusted advisors or CFO’s for hire.”
In October 2017, chata.ai announced $2.5 million in seed funding, all from Alberta-based private investors. Currently integrated with QBO, chata.ai plans to move rapidly on to the Xero and Sage One APIs.
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