Fluence Adds Account Reconciliation & Matching to Financial Close, Consolidation & Reporting Solution

Comprehensive, out-of-the-box, Excel-based solution slashes inefficiencies and risks in painful accounting process

TORONTO--(BUSINESS WIRE)--Fluence Technologies, the only provider of purpose-built financial close, consolidation and reporting software for midmarket businesses, today unveiled its new account reconciliation solution to automate and control the painful, resource-intensive accounting function that’s widely known as the bottleneck to the financial close process.

“Fluence now offers the only integrated account reconciliation, financial consolidation and reporting SaaS software built from the ground up for the enterprise-scale needs of midmarket companies,” said Michael Morrison, CEO at Fluence Technologies. “We’re providing our customers best of breed, Excel-centric solutions they can implement in weeks to eliminate inefficiencies, errors and other risks at every stage of the financial close process. From record to report.”

Account reconciliation is one of the most manual, labor-intensive accounting processes, typically managed with a patchwork of disconnected spreadsheets, schedules and supporting documents. In addition to putting a strain on resources, it's a frequent cause of inaccurate financials, delayed decisions, prolonged audits and other risks.

“Account reconciliation can cause uncertainties, delays and extra work throughout midmarket organizations, from accountants and CFOs to management and auditors,” said Robert Kugel, senior vice president and research director at Ventana Research. “Fluence offers the automation, controls and visibility of a big business 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 features of an enterprise system with ease of use, affordability and quick time to value. Its features include:

• True out-of-the box delivery for implementation in weeks, not months or more
• A familiar, full Excel interface for instant adoption, with the skills finance teams already have
• Intuitive, no-code web administration interface for finance to own and operate, without relying on IT
• Role-based permissions, preset workflows and other controls for trusted, 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 including full process automation, clear reporting standardized 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 integrated, end-to-end financial close solution. For more information visit https://www.fluencetech.com/solutions/account-reconciliation.

About Fluence Technologies - www.fluencetech.com

Fluence is the only purpose-built financial consolidation, close and reporting software for midmarket businesses. Our customers go live in weeks, close their books in days and report intelligence in real time. We deliver game-changing efficiency gains and trusted, timely numbers to over 800 customers 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 quick time to value, all in a truly finance-owned solution. Welcome to Fluence...we close early.