Financial Close and Consolidation Solutions Reviews and Ratings
What are Financial Close and Consolidation Solutions?
Gartner defines financial close and consolidation solutions (FCCS) as applications that enable CFOs and their teams to manage the organization’s group close, consolidation and reporting processes. The FCCS market equips organizations to (1) manage and drive financial control across their close cycles through configurable workflows and dashboards that support collaboration and provide a centralized auditable view; (2) execute financial consolidation across multiple legal entities (LEs) and geographies; (3) meet accounting standards for currency translation, intercompany elimination and top-side adjustments; and (4) generate reporting that adheres to generally accepted accounting principles (GAAP), International Financial Reporting Standards (IFRS) and regional compliance.
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BlackLine is a publicly-traded company known for addressing traditional accounting challenges. It leverages a cloud-based financial operations management platform to enhance the efficiencies of financial departments. The primary objective of BlackLine is to modernize accounting procedures by consolidating the data and processes along with automating mundane activities. This also ensures accountability through comprehensive visibility. BlackLine provides comprehensive solutions for managing and automating various activities like financial close, accounts receivable, and intercompany accounts. They cater to both large and midsize corporations across various industries to help optimize accounting procedures. BlackLine operates globally with its main operations sprawled across several business hubs such as Los Angeles, New York, the San Francisco Bay area, London, Paris, Frankfurt, Tokyo, Singapore, and Sydney.
OneStream is how today’s Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It’s the enterprise finance platform that unifies all your financial and operational data, embeds AI for better decisions and productivity, and can extend to meet the evolving needs of your business, without adding technical debt.
Our vision is to be the operating system for modern Finance, unifying core financial functions and empowering the CFO to become a critical driver of business strategy, innovation, and growth. We deliver a comprehensive cloud-based platform designed to modernize the Office of the CFO. Our Digital Finance Cloud unifies key financial and operational data and processes, embeds AI for faster and better planning and forecasting, and is infinitely extensible so customers can add new utility and achieve more value as their business needs evolve.
Oracle is a cloud technology company that offers computing infrastructure and software solutions globally. This organization has developed an autonomous database, the first of its kind, to help manage and secure data. Oracle Cloud Infrastructure presents functionalities to facilitate the transition of workloads from on-site systems to the cloud, and vice versa, as well as between different clouds. Oracle's cloud software applications provide modern tools designed to support sustainable growth and resilience in businesses. Tools developed by Oracle are used by a wide range of users including nonprofit organizations and businesses of various sizes, to aid in operations like supply chain streamlining, human resource management, financial planning and connecting data and global users. Apart from business solutions, Oracle's technology also aids in tasks ranging from government defense to scientific and medical research.
Wolters Kluwer is a global entity specializing in professional data, application solutions, and services. The company targets sectors such as healthcare, taxation and accounting, corporate and financial compliance, legal and regulation, along with corporate performance and ESG. Wolters Kluwer's central role is to assist its clients in making essential judgements daily, delivering expert solutions that harmoniously blend specialized technology, services, and extensive domain knowledge. The company maintains its operations in over 40 countries and serves customers in more than 180 nations. Wolters Kluwer is based in Alphen aan den Rijn, the Netherlands.
Planful is a company dedicated to the development of financial performance management cloud software. The main product is the Planful platform, which aims to streamline diverse business processes such as planning, budgeting, consolidations, reporting, and analytics. This platform is used globally and acts as a tool for finance, accounting, and business users to improve their planning, reporting, and closing procedures. The ultimate aim is to accelerate process cycles, boost productivity, and enhance overall accuracy. The company stands as a private entity, supported by Vector Capital.
Prophix is a company that revolves around assisting finance leaders in achieving and accelerating their goals, while driving overall progress. Their focus lies in fostering collaboration and promoting innovation through their tailored financial performance platform. Equipped with AI insights, the platform also offers plan-making, budgeting, forecasting, reporting, and consolidating features. This platform facilitates risk-taking, boundary-pushing, and barrier-breaking by offering the necessary flexibility.
insightsoftware is a global provider of comprehensive solutions for the Office of the CFO. We believe an actionable business strategy begins and ends with accessible financial data. With solutions across financial planning and analysis (FP&A), accounting, and operations, we transform how teams operate, empowering leaders to make timely and informed decisions. With data at the heart of everything we do, insightsoftware enables automated processes, delivers trusted insights, boosts predictability, and increases productivity.
Workday is a prominent provider of cloud applications intended for finance and human resource management. Their primary objective is to assist businesses in adapting to changes with the help of their various applications. They provide applications for financial management, human resources, planning, spend management, and analytics, all of which are built upon the foundations of artificial intelligence and machine learning. This technology is intended to support organizations globally in navigating the evolving nature of work. Workday's services are utilized by numerous organizations worldwide, across a variety of industries.
Board’s Intelligent Planning solutions help over 2,000 organizations worldwide to plan smarter, enable actionable insights and achieve better outcomes. Board helps leading enterprises unify strategy, finance, and operations through more integrated and intelligent planning to achieve full control of performance. Partnering with Board, global businesses have digitally transformed their planning processes. Board was founded in 1994, and has 25 offices worldwide.
Vena is a distinct platform that has been constructed particularly for Microsoft365 with Power BI Embedded, made to enhance functionality with native Excel.
Anaplan is a scenario planning and analysis platform designed to optimize decision-making in today’s complex business environment so that enterprises can outpace their competition and the market. By building connections and collaboration across organizational silos, our platform surfaces key insights — so businesses can make the right decisions, right now.
Anaplan is a scenario planning and analysis platform designed to optimize decision-making in today’s complex business environment so that enterprises can outpace their competition and the market. By building connections and collaboration across organizational silos, our platform surfaces key insights — so businesses can make the right decisions, right now.
IBM is a well-established entity focused on technology and development. The primary mission revolves around fostering technological growth and enhancing infrastructure, achieved through focused developments and consulting services. By encouraging inventiveness and innovation, it is geared towards facilitating the transition of theoretical ideas into practical realities, thus improving global functionalities. IBM brings about transformation by creating advanced solutions that reshape and redefine the world.
insightsoftware is a global provider of comprehensive solutions for the Office of the CFO. We believe an actionable business strategy begins and ends with accessible financial data. With solutions across financial planning and analysis (FP&A), accounting, and operations, we transform how teams operate, empowering leaders to make timely and informed decisions. With data at the heart of everything we do, insightsoftware enables automated processes, delivers trusted insights, boosts predictability, and increases productivity.
Trintech is a company that provides cloud-based reconciliation and financial close services. It aims to support organizations looking to improve their finance and accounting operations for increased efficiency and efficacy. The challenge of managing reconciliation and financial close processes, especially given time constraints, is a primary concern Trintech addresses. Services offered vary, encompassing high volume transaction matching, operational reconciliation streamlining, balance sheet reconciliation automation, intercompany accounting, journal entries, close management tasks, and risk governance and compliance control. The company's financial solutions include the Cadency Platform for large corporations and the Adra Suite catering to midsize entities. These services seek to reduce expenses while enhancing both governance and transparency in all reconciliation and financial close operations. Trintech works with numerous clients across multiple countries and diverse sectors.
Aico is a company specializing in the provision of Artificial Intelligence solutions to finance departments globally, particularly those within midsize and large businesses. By offering an intelligent financial close automation platform, Aico assists with various record-to-report (R2R) accounting processes, including account reconciliation, close task management, journal entries, and other financial procedures like manual invoices and payments. The company seeks to replace lengthy and intricate manual work with efficient processes, enhancing control, quality, integrity, and visibility. The aim of Aico is to facilitate more insightful and meaningful work via intelligent finance automation and control. The services provided by Aico are used in numerous countries worldwide and cater to various sectors including utilities, retail, healthcare, construction, and manufacturing amongst others.
HighRadius is a company that specializes in developing autonomous software solutions primarily targeted towards the Office of the CFO. The company's core product is a cloud-based autonomous platform that is data-driven and has the ability to change its behavior based on transient transactional data. This software can efficiently digitize order-to-cash, treasury, and record-to-report processes, featuring modern capabilities like artificial intelligence, robotic process automation, natural language processing, and no-code platforms. HighRadius's unique proposition combines the functionality of an application software vendor with a middleware platform for AI or RPA, thereby delivering measurable business outcomes, including DSO reduction, working capital optimization, bad-debt reduction, reduced month-end close timelines, and improved productivity in under six months.
insightsoftware is a global provider of comprehensive solutions for the Office of the CFO. We believe an actionable business strategy begins and ends with accessible financial data. With solutions across financial planning and analysis (FP&A), accounting, and operations, we transform how teams operate, empowering leaders to make timely and informed decisions. With data at the heart of everything we do, insightsoftware enables automated processes, delivers trusted insights, boosts predictability, and increases productivity.
insightsoftware is a global provider of comprehensive solutions for the Office of the CFO. We believe an actionable business strategy begins and ends with accessible financial data. With solutions across financial planning and analysis (FP&A), accounting, and operations, we transform how teams operate, empowering leaders to make timely and informed decisions. With data at the heart of everything we do, insightsoftware enables automated processes, delivers trusted insights, boosts predictability, and increases productivity.
insightsoftware is a global provider of comprehensive solutions for the Office of the CFO. We believe an actionable business strategy begins and ends with accessible financial data. With solutions across financial planning and analysis (FP&A), accounting, and operations, we transform how teams operate, empowering leaders to make timely and informed decisions. With data at the heart of everything we do, insightsoftware enables automated processes, delivers trusted insights, boosts predictability, and increases productivity.