CPMview adds Fluence to financial consolidation offering

02 December 2020 Consultancy.eu 3 min. read

CPMview has become one of the trusted advisory and implementation partners of Fluence Technologies, with the aim of helping mid-sized businesses in the Benelux with improving their financial consolidation solutions. 

The financial consolidation process is notorious for its complexity and the workload that comes with it, and not just at multinationals or large domestic companies. In fact, according to John Power, the chief executive of Fluence Technologies, players in the mid-market segment may well be up to a larger challenge.

“CFOs at mid-market companies have the same issues as their larger competitors, but lack the correspondingly large budgets and headcounts,” he said. Similarly, in the smaller tier of the business landscape, “most small corporations can manually consolidate in Excel or directly in their ERP,” added Maarten Baatenburg de Jong, a senior solution architect at CPMview. 

CPMview adds Fluence to financial consolidation offering

It is in the space in between – the mid-market – where typically the largest number of challenges can be felt. “Financial consolidation is high on the complexity scale, requiring dozens of different types of calculations,” said De Jong, and in his work consulting clients on corporate performance management, he on a day-to-day basis sees this unfold in practice.

“Once businesses grow beyond a certain threshold and start acquiring other corporations, managing multiple legal entities, working in multiple currencies, or looking at going public, financial consolidation changes from a manageable manual task into an enormous data project with financial and strategic risks.” 

Netherlands-based CPMview specialises in helping organisations with streamlining and automating their financial processes. In delivering its offerings, the firm works closely with a number of software vendors including OneStream, Sturnis365 and Vena Solutions. Recently, Fluence Technologies was added to this roster.

CPMview’s managing partner Damien Wiegman explains why: “We strongly believe Fluence Technologies can support our mission – helping finance managers make decisions based on timely, accurate and reliable information.” 

Canada-based Fluence Technologies provides a no-code financial consolidation solution that provides finance teams the best of two worlds: the ease and flexibility of Excel with a robust enterprise consolidation engine. As it is based on no-code (or low-code), the finance team can own and maintain the solution, giving it an edge vis a vis complex tools that require heavy IT support. 

What’s more, “the solution can be deployed in weeks”, said Wiegman, who founded the now 20-strong financial consultancy twelve years ago on the back of a career at Deloitte Consulting. “We are looking forward to bringing the value added of Fluence to our clients.”

For the investor-backed Canadians, the partnership – which comes not too long after it onboarded BDO as a partner – provides it with delivery power in the Benelux, a relatively mature market for financial services and solutions. “This partnership with CPMview will prove ideal for the evolving needs of our customers in the region,” concluded Fluence’s executive chairman Don Mal.