With the acquisition of XL Cubed early last month (November 2021), Fluence Technologies have positioned themselves strategically in the Financial Consolidation software marketplace.
The acquisition builds on Fluence’s strategy to deliver the broadest technology platform to address the varied needs of organizations throughout the financial consolidation, close and reporting processes. In particular, XLCubed provides Fluence with world-class financial reporting, analytics and dashboarding capabilities designed specifically for the self-service needs of finance and business professionals.
XLCubed will continue to be sold on a standalone basis to organizations ranging from the mid market to global enterprises for financial, management and operational reporting use cases.
“This is a critical step in our long-term strategy. With XLCubed, Fluence broadens its consolidation and close solution offering and provides our customers and partners with an innovative financial, management and operational reporting capability that capitalizes on the power and familiarity of Excel,” said Michael Morrison, CEO of Fluence Technologies. “It also brings to the company more than 750 loyal customers, a strong global partner network and a dedicated employee base with deep Excel ‘DNA’ that has been committed to delivering high-impact analytics to finance and business professionals for years.”
Commenting on the acquisition news, LSA Solutions Senior Manager, Alan Sutton said "it is most unusual to find any start-up organisation in our marketplace that has so much DNA that is primarily focused upon financial close and consolidate processes. These challenges are being encountered daily by finance departments across industries and business sectors who require structure and automation, without any relegation of the MS Excel skillsets that have naturally evolved. It is very welcome news for LSA's partnership activities with Fluence".
About Fluence Technologies
Fluence is the only purpose-built financial consolidation, close and reporting cloud software. Customers go live in weeks, close their books in days and report intelligence in real time. Fluence deliver game-changing efficiency gains and trusted, timely numbers, so finance professionals get the time, control and confidence they deserve. Fluence is out-of-the-box, no-coding software with a full Excel interface for immediate adoption and quick time to value, all in a truly finance-owned solution. Welcome to Fluence...we close early.
XLCubed provides self-service, Excel-centric and Web-enabled financial and finance-led reporting software to more than 750 customers worldwide. Finance and business users rely on XLCubed software daily for financial, regulatory management, dashboard and ad hoc reporting. A data-connected Excel interface puts an end to relying on IT and puts report design, authoring, and distribution in the hands of finance, giving finance the power to deliver insightful, interactive reports for any business user.
About LSA Solutions
LSA Solutions are a specialist multi-vendor, value-added software reseller and consultancy, founded in 1996, who are entirely focused upon Financial Consolidation and Reporting, Budgeting, Forecasting and Integrated Business Planning. The new acquisition of XLCubed by our partners, Fluence Technologies, will enable us to further enhance our product solutions in these critical business areas.