Anaplan Announces Agreement to Acquire Fluence Technologies
Integrating Fluence will enhance market-leading connected planning solution by adding best-in-class financial consolidation capabilities to the Anaplan cloud platform
MIAMI, FL – Today, Anaplan, a market-leading platform for connected planning that enables better business decision-making, announced that it has entered into a definitive agreement to acquire Fluence Technologies, a leading cloud native solution leveraged by enterprises across the globe for financial close, consolidation, disclosure management and reporting. The acquisition is expected to close in early May. More specifically, the integration of Fluence into the Anaplan platform will provide:
- Consolidations – Out-of-the box software for financial consolidation. Quick to roll out and easy for the finance team to operate, with intuitive workflow automation, consolidation models with built-in intercompany eliminations, account reconciliation, cash flow management and the use of Word, PowerPoint, Excel and Power BI for financial and management reporting.
- Disclosure Management – Designed for evolving reporting demands, enabling finance teams with complete control (no IT required), with familiar Office authoring and publishing in Word and PowerPoint with document setup in minutes.
- Excel Reporting – Insightful, interactive reports on company-wide metrics for any business audience in Excel (i.e. a data-connected Excel add-in for enterprise reporting needs), with over 30 built-in connectors to report on real-time metrics.
Anaplan is the leader in finance planning, transforming how FP&A organizations across the globe enable real-time scenario analysis. With the addition of consolidation and disclosure management, Anaplan is strengthening its leadership position and enabling organizations to make better decisions faster. Through seamlessly integrating consolidation with connected planning on a unified platform, finance organizations can reduce system and process complexity, lower costs and improve compliance by navigating statutory audits to GAAP requirements, down to the local entity level. Moreover, such local entity granularity enhances the robustness of Anaplan’s scenario analysis capability, which is already a distinctive capability of the platform. “As a chief financial officer, I know the value of merging financial consolidation with cross functional connected planning on a unified platform. By connecting consolidated actuals to forecasts on a unified connected planning platform, critical financial workstreams including local country/region accountability, transfer pricing studies, tax planning, local cash balance management among others are accelerated with increased fidelity”, said Hemant Kapadia, Anaplan CFO.
“Traditional planning is yesterday’s paradigm,” said Charlie Gottdiener, CEO of Anaplan. “Today’s model is real-time financial and operational decision-making, and the unification of financial consolidation and connected planning on a common platform facilitates the agility needed to address the collapsing decision cycles associated with planning and scenario analysis. The same finance team that utilizes the power of Anaplan to dynamically plan their business in real-time will now be able to leverage a familiar, user-friendly UX and UI to control and execute consolidation and disclosure management, and in the process reduce automation costs, accelerate time to decision-making, improve compliance posture and optimize finance capacity for higher-value work.”
After closing, the integration of Fluence into the Anaplan platform, along with accelerated innovation targeting the office of the CFO, will be led by two financial consolidation industry pioneers, Adam Thier, Anaplan Chief Product and Technology Officer and Hervé Capo, Vice President of Product at Fluence, “A key tenet of both companies’ software development philosophy is that the user interface should be simple, but powerful, intuitive and easy to use – our Excel add-in, FluenceXL is a great example of this principle. It is this software tenet that will guide the integration of Fluence into the Anaplan platform, extending the benefits of Anaplan’s market-leading finance planning solution to financial consolidation”, said Michael Morrison, CEO at Fluence.
About Anaplan
Anaplan provides a market-leading platform for connected business planning that enables better decision-making. By dynamically connecting financial, strategic, and operational plans in real time, Anaplan’s connected planning platform facilitates the agility needed to address the accelerated decision cycles associated with planning and scenario analysis. Anaplan helps more than 2,400 market-leading customers in over 50 countries navigate their daily planning and decision-making challenges with confidence. To learn more, visit www.anaplan.com.