What is lucid.now?
Lucid is an advanced AI-powered financial platform designed to streamline reporting, analysis, and forecasting for businesses across various sectors, including e-commerce, startups, professional services, and manufacturing. It empowers founders, CFOs, and financial teams to generate customized financial plans instantly, providing clarity on cash flow, forecasts, and key performance indicators (KPIs). The platform aims to make financial management significantly faster and more accessible for businesses at any stage of growth.
By leveraging artificial intelligence, Lucid automates complex financial tasks that traditionally require extensive manual effort. This includes creating best-case, worst-case, and actual financial scenarios, facilitating informed decision-making. The tool offers features such as budget versus actuals tracking, 'what-if' scenario modeling, and access to a complete library of financial templates. Furthermore, Lucid supports businesses in critical activities like raising capital, scaling teams, optimizing financial runway, and preparing board or investor updates through data-driven insights and comparative scenario analysis.
Features
- AI-Generated Financial Plans: Instantly create comprehensive financial plans with best-case, worst-case, and actual scenarios.
- AI Financial Analysis & Reporting: Leverage AI for in-depth financial reporting, KPI insights, and analysis.
- Budget vs. Actuals Tracking: Monitor and compare budgeted finances against actual performance.
- What-If Scenario Modeling: Explore various financial outcomes by creating and comparing different scenarios.
- Complete Template Library: Access a diverse collection of pre-built financial templates for various needs.
- AI Financial Copilot: Interactive AI assistance for financial queries, plan generation, and graph creation (also referred to as AI Conversation).
- AI-Powered Hiring Plans: Generate data-driven hiring plans aligned with financial forecasts.
- Dynamic Plan Updates: Keep financial plans current with automatic updates from integrated data sources.
- Integrations: Seamlessly connect with QuickBooks, Xero, payroll systems, and CRMs.
- Industry Benchmarks: Compare your business against industry-specific metrics like CAC, valuation, and competitor insights.
- Custom Financial Reports: Generate tailored reports for stakeholders, board members, and investors.
- Access Controls: Manage team collaboration with specific viewer and editor permissions.
Use Cases
- Generate customized financial plans instantly for strategic decision-making.
- Create professional fundraising plans to effectively communicate with investors.
- Develop data-backed hiring plans based on financial forecasts and business needs.
- Gain real-time insights into burn rate and runway to optimize financial sustainability.
- Prepare comprehensive board and investor reports quickly for shareholder communication.
- Optimize business growth strategies by comparing AI-generated financial scenarios.
- Analyze and compare various financial scenarios to make confident business decisions.
- Access and utilize industry benchmarks for competitive analysis and strategic planning.
FAQs
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Do you offer a free trial?
Yes! Lucid has a free forever tier and we offer a 14-day free trial on every tier. Explore Lucid before making any commitment. -
Do I need QuickBooks Online or other integrations to use Lucid?
No, you can connect your bank accounts directly to Lucid if you're not using QuickBooks or other accounting tools. When you're ready to integrate, Lucid works seamlessly with QuickBooks, Xero, and payroll systems for more advanced financial management. -
Why should I connect my QuickBooks, Xero, or U.S. banks to Lucid?
Connecting these financial data sources allows Lucid to provide real-time insights and updates to your financial plan. This ensures that your forecasts, cash flows, and models are based on the latest available data, making them more accurate and actionable. -
Can my accountant use Lucid?
Absolutely! Your accountant can continue managing your books in QuickBooks or Xero, and you can use Lucid for financial planning and analysis. Additionally, you can invite your accountant or other team members to collaborate directly on Lucid. -
How does Lucid help with scenario planning?
Lucid offers scenario planning across all plans. All our plans, including the Starter Plan, allow for unlimited scenario planning. This feature lets you model different financial outcomes, whether you're planning for growth, managing cash flow, or hiring new team members.
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