Lumitech launches Tolmete to show businesses where they are losing profit

Dubai's service businesses now have a new artificial intelligence tool to help them pinpoint where they are losing money on projects while there is still time to act. Lumitech, a software company based in Dubai, has introduced Tolmete, a platform designed to identify profit erosion across active projects.

Profitability is a critical metric for business growth in the United Arab Emirates, especially for small and medium-sized businesses (SMEs) which contribute significantly to the nation's non-oil GDP. While revenue may increase, higher costs from staffing, unexpected work, or project delays can erode profit margins. Tolmete addresses this by connecting data from various systems like task management, professional services, and financial software.

The platform focuses on a core question: Is a project consuming its budget faster than the work is being completed? It integrates with popular tools such as Jira, Asana, QuickBooks, and Zoho, allowing businesses to continue using their existing systems. Tolmete analyzes planned effort against actual time and task progress, flagging discrepancies, such as a feature being 50% complete but having already used 70% of its estimated time. Managers can then investigate and adjust resources, scope, or timelines.

"Growth can hide weak delivery economics for a long time because revenue keeps moving in the right direction," said Denis Salatin, Founder and CEO of Lumitech. "In a market growing as quickly as Dubai’s, finding out at month-end carries a higher cost." The launch aligns with Dubai's broader push for applied AI and digital transformation, aiming to boost the digital economy's contribution to GDP.

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Growth can hide weak delivery economics for a long time because revenue keeps moving in the right direction. In a market growing as quickly as Dubai’s, finding out at month-end carries a higher cost.