November 25, 2019 @ 15:17 by Richard Dawson
Cloud-based software provider ProForecast is forecasting a bright outlook for its platform after moving to a new head office in Sunderland.
Founded two years ago by Steven Katirai, ProForecast uses artificial intelligence (AI) to help businesses plan for the future, providing in-depth predictions and reports that enable users to make informed decisions about their future growth plans.
The tech company, which also has an office in Mexico, relocated to Sunderland Software Centre in September after launching a new product and rebranding.
The ProForecast platform claims it can predict ‘with 98 per cent accuracy’ the performance of any business for the next six months and has already adopted been adopted by a number of companies operating in the manufacturing and professional services industries.
Steven Katirai, founder and chairman, said: “ProForecast was founded with the sole aim of using Artificial Intelligence to bring the process of financial forecasting and strategic planning into the 21st century.
“Over the last 40 years, I’ve headed up and managed many companies, from window manufacturers to skincare brands and overseeing stock market flotations, so I’ve experienced first-hand how technology has revolutionised almost every aspect of how we do business.
“Yet financial forecasting, which is one of the most critical of all business processes, has not yet been able to move as fast with the rate of change of other areas of business.
“I knew there had to be a quicker, more accurate way to forecast, and I set about assembling a team to help make it happen.”
Looking ahead, Steven has ambitious plans for the future.
He added: “Over the next few years, we want to turn ProForecast into a multi-national business with offices around the world.
“We’re focusing on the UK market for now, however we also have plans in place to internationalise the product and are excited to see where the future takes us.”