Top 20 Corporate Finance Technology Companies - 2019
Behind every successful enterprise lies an efficient finance department. However, every enterprise is different and is changing consistently in relation to business needs and objectives. In such a scenario, enterprises find it daunting to find a corporate finance technology solution that meets their unique business needs in the areas of risk management, business valuation, capital investments, and M&A activities, among others. For improved financial results, modern businesses must incorporate a sense of “freedom to innovate,” bringing in harmony between accounting, finance, operations, and other functions. By doing so, enterprises can build innovative products, gain more visibility into their data, resulting in enhanced operational efficiency and transparency.
Before leveraging a solution, any organization must check if the solution aligns with its broader vision while providing more control and scalability. Gone are the days when managers recorded data using spreadsheets, created presentations on separate software, and produced financial reports using a third-party tool. To achieve agility in operations and service delivery and gain increased visibility into the organizational data, an organization has to adopt a solution that brings alignment between various reporting and compliance outputs, and streamlines risk and controls. Besides, the solution can be extended to drive CRM efficiency.
The modern corporate finance solutions employ cutting-edge technologies such as artificial intelligence (AI) and machine learning to improve and automate financial decision making. This agility helps companies identify capital expenditures, estimate cash flows, and compare planned investments with projected income easily. CFOs and their teams can avail the current digital technologies to generate forecasts and be more vocal in their support to the strategic plans and decisions of the organization. The cloud-based planning and budgeting platforms automate data reconciliation to achieve a single source of up-to-date data. These platforms combine accurate data from multiple sources—including sales, supply chain, and business performance—to improve working capital and inventory management. Through automation, modern corporate finance solutions allow enterprises to focus on value creation and efficient resource utilization.
In the wake of these technology transitions, we are glad to feature Colorado-based Codence on our list of the 20 most promising Corporate Finance tech solution providers. Codence provides Genesis Financial Suite which is built on the innovative FileMaker platform used to create custom applications for improved business operations and enhanced productivity. Codence also offers accounting and business intelligence functionalities. Another company, Capital Works goes beyond point solutions to deliver an end-to-end platform, covering the full range of aspects, from preparing for a transaction to monitoring a transaction post-closing.
With several success stories and awards under their belts, these companies are constantly bringing innovations in the space of corporate finance. We hope this issue of the top corporate finance technology solution providers helps to build the partnership needed to foster a technologically-driven finance department.
We present to you CIOReview’s “20 Most Promising Corporate Finance Tech Solution Providers—2019.”