SumoSum (https://sumosum.com) is an US-based FinTech startup offering a financial forecasting software designed to be used by non-financial entrepreneurs, startups, nonprofits and students. It is a powerful but easy-to-use tool to create budgets or financial forecasts by anyone from any device.
SumoSum was developed by a team of:
- 1 Project Manager
- 3 .NET Core Developers
- 3 React Developers
- 1 UI/UX Designer
- 2 QA Testers
- 1 DevOps Engineer
- 2 Business Analysts
- 1 Financial Expert
SumoSum was launched in 2021. Our team started working on this platform for a business based in Hawaii, USA on the premise of creating business concepts starting with the numbers. The idea was to create a forecasting system that even a student with no prior experience in financial reporting could use from their mobile phone.
SumoSum has an easy modeling panel and works as a business theme checklist. It enables the user to easily capture and update financial models as ideas occur. Insight charts and forecast reports can also be downloaded from SumoSum to be used in presentations.
The later updates of the app will include Artificial Intelligence, Machine Learning and Data Science modules to further assist businesses with their finance.
Problem It Solves
In today’s world of lean startups, there’s an emerging need for nimble planning and visual pitch presentation tools. Financial forecasts are more important than decks and B-plans because they determine funding and profitability. But not everyone has the financial expertise to create forecast reports from scratch. In fact, entrepreneurs are witnessed to fail regularly because of not knowing their numbers.
SumoSum was created to help non-financial entrepreneurs and students in creating and using budgets and financial forecast reports by themselves. It solves the requirement of financial expertise in creating presentation-worthy financial reports by making the platform easy-to-use for everybody as well as providing a super-easy modeling panel for quick planning of financial models.
Features like preset default variables, tooltip & modeling shortcuts and real-time charts & reports generation made for a nimble financial forecasting tool that is easy and accessible. On the other hand, features like collaboration, instant messaging and comment channels made for a space to plan financial models with one’s team. To make it even more accessible, the app has affordable subscription plans as well as a free plan with limited functionalities.
The key features of SumoSum include the following.
– Assumptions Interface
Here one can add their variables and see their concept come to life. Preset defaults make adding variables easier.
– Real-Time Charts & Financial Reports
From income vs expense charts to full-fledged cash flow reports are created in real time.
Project variants can be modeled as scenarios. This feature also includes shortcut cloning.
Download charts in PNG formats and reports in PDF formats.
And there were many more features such as collaboration, instant messaging, comment channels etc. added to make SumoSum a complete platform for financial forecasting.