TORONTO–(BUSINESS WIRE)–Fluence Technologies, the only provider of financial close, consolidation and reporting software specifically designed for midsize businesses, today unveiled its new account reconciliation solution to automate and control the tedious accounting function and resource-intensive widely known as the bottleneck of the financial close process.
“Fluence now offers the only integrated SaaS account reconciliation, financial consolidation and reporting software built from the ground up for the enterprise-scale needs of middle market companies,” said Michael Morrison, CEO of Fluence Technologies. “We provide our clients with the best Excel-centric solutions that they can implement in weeks to eliminate inefficiencies, errors, and other risks at every stage of the financial close process. From registration to report.
Account reconciliation is one of the most manual and laborious accounting processes, typically managed with a patchwork of disconnected spreadsheets, timelines, and supporting documents. In addition to straining resources, it’s a common cause of inaccurate financial data, delayed decisions, lengthy audits, and other risks.
“Reconciling accounts can cause uncertainty, delays and increased work in all midsize businesses, from accountants and CFOs to management and auditors,” said Robert Kugel, senior vice president and director of research at Ventana Research. “Fluence delivers the automation, controls, and visibility of a large enterprise solution at a fraction of the cost, in a fraction of the time to implement, adopt, and deliver value.”
Like Fluence’s consolidation and reporting solutions, the Account Reconciliation offering combines the functionality of an enterprise system with ease of use, affordability and rapid return on investment. Its features include:
True out-of-the-box delivery for implementation in weeks, not months or more
A complete and familiar Excel interface for instant adoption, with the skills that finance teams already have
Intuitive, no-code web admin interface for finance to own and operate, without relying on IT
Role-based permissions, predefined workflows and other controls for reliable and accurate numbers
Audit trails from cell-level changes to reviews and approvals, for complete visibility throughout the close
The new account reconciliation solution also includes features such as full process automation, clear and standardized reporting for all account types, and supporting evidence requirements for unreconciled differences and unmatched transactions. .
Account reconciliation is available today as a standalone offering or with financial consolidation and reporting in Fluence’s end-to-end integrated financial close solution. For more information, visit https://www.fluencetech.com/solutions/account-reconciliation.
About Fluence Technologies – www.fluencetech.com
Fluence is the only consolidation, close and financial reporting software specifically designed for midsize companies. Our clients go live in weeks, close their books in days, and report real-time insights. We deliver breakthrough efficiencies and reliable, timely numbers to over 800 clients so they get the time, control and confidence they deserve. Fluence is out-of-the-box, no-coding software with a full Excel interface and enterprise-grade capabilities for immediate adoption and rapid ROI, all in a truly finance-owned solution. Welcome to Fluence… we close early.