Fluence Technologies, the next-generation cloud consolidation solution that powers a faster and more confident financial close, has raised capital from investors including MaRS Investment Accelerator Fund (IAF) and has been named Best New Vendor for 2020 by BPM Partners.
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“This is the golden age of consolidation systems, but we haven’t seen a new vendor in this space in quite some time. Because of their subject matter expertise, the Fluence team has been able to create an enterprise-caliber consolidation solution that’s very easy to use and comes at a mid-market price tag,” said Craig Schiff, CEO of BPM Partners.
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The Fluence financial consolidation solution changes how midsize enterprises approach financial close, giving them access to data and efficiencies previously reserved for the world’s largest corporations. Financial consolidation solutions eliminate significant manual work, reduce errors, and generate the fast and accurate data needed to drive growth, yet the cost and complexity involved with implementing and maintaining these solutions has traditionally put them out of reach for mid-market enterprises.
“Fluence is solving one of those problems that sound simple but turn out to be this massive pain-point for thousands of companies,” said Alexander Barclay, Senior Investment Manager at MaRS IAF. “Financial consolidation gets incredibly complex and successfully tackling the issue requires a combination of deep expertise in tech, data, and corporate financial management. The Fluence team brings all of that in spades and we’re excited to support them on this journey.”
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