insightsoftware Achieves Five-Year Growth Rate of 425 Percent, Delivering Connected Solutions for Finance, Accounting, and Data Teams
CIO Applications | Friday, March 01, 2024
RALEIGH, N.C. –insightsoftware, the most comprehensive provider of solutions for the Office of the CFO, today announced it achieved a 5-year growth rate of 425 percent. In the last twelve months, it brought several new critical solutions to market to eliminate manual tasks, address skilled labor shortages, and boost productivity for organizations. In spite of the economic climate, insightsoftware continues to meet increasing demands for automated solutions across finance, accounting, and operations.
Finance professionals are spread thin as they strive to do more with fewer resources. As global organizations adopt insightsoftware solutions, they can turn information into insights and streamline operations. More than 55% of CFOs still rely on manual solutions for compliance and regulatory needs, and 80% plan to maintain or increase enterprise-wide digital investments over the next two years. To increase efficiency, CFOs use connected solutions from insightsoftware to enable the speed, agility, and resilience required to meet business needs.
This January marked insightsoftware CEO Michael Sullivan’s one-year anniversary. Under his leadership, the company continued its explosive growth with two acquisitions, the launch of several new offerings, and the formation of three core business units: FP&A, Controllership, and Data and Analytics
“insightsoftware is the most comprehensive provider of solutions for the Office of the CFO. Our solutions are built on an advanced data layer that enables access to critical business and financial data. Through our cloud-based Platform, customers enjoy integration and faster decision-making across finance, accounting, and operations applications. Pre-built content and use cases automate previously manual tasks and give teams more time for strategic initiatives,” said Michael Sullivan, CEO of insightsoftware. “We’ve increased investment in key areas, including AI, ESG, and various multi-product bundles that automate previously manual tasks. We’re enabling teams to be more productive, giving time back for value-added activities.”
Additional 2023 highlights include:
• The launch of the insightsoftware Platform, an integrated solution for organizations to close books, plan for the next budget, prepare taxes, and much more. The Platform facilitates the management of business rules and processes through a connected set of solutions, eliminating manual tasks, addressing skilled labor shortages, and boosting productivity within finance, accounting, and operations teams.
• insightsoftware acquired Power ON and Vizlib, introducing offers for operational planning, reporting, and analytics for Power BI and Qlik users.
• The introduction of extensive new capabilities to the Logi Symphony software suite. The solution now easily embeds self-service, end-to-end business intelligence and analytics (ABI) fused with artificial intelligence (AI) into any web-based application.
• The integration of Spreadsheet Server with Infor Financials and Supply Management (FSM), grants finance teams more control over Infor FSM reporting, enabling them to spend less time preparing data and more time deriving new insights.
• The expansion of the company’s Angles product line with Angles Professional for Oracle, providing Oracle ERP Cloud users the ability to customize, create, and share interactive dashboards and reports across all departments.
• insightsoftware added more than 200 partners to its extensive partner network following the acquisition of Vizlib and ongoing innovation with products such as Jet Reports.
• The evolution of Longview Tax enables organizations to confidently meet BEPS 2.0 Pillar Two requirements.
Headquartered in Raleigh, North Carolina, insightsoftware has more than 32,000 global customers and more than 500,000 users. The company was recognized for its growth in the 2023 Deloitte Technology Fast 500™ and secured the number one ranking on Business North Carolina’s Mid-Market Fast 40 List. insightsoftware was also recognized in the Gartner Magic Quadrants for Financial Close and Consolidation and Financial Planning Software.
To learn more about how insightsoftware empowers the Office of the CFO to make timely and informed decisions, visit insightsoftware.com. Please join us on Feb. 21, 2024, at 1 pm ET, via our LinkedIn Live 2024 Trends for The Office of the CFO, as our CFO David Woodworth and SVP Corporate Development Mark Lisi discuss how CFOs can foster a culture of financial discipline within their organizations, shifting their attention to enhancing efficiency, agility, and resilience of their finance teams to connect data, build agility, and drive profitability.
Finance professionals are spread thin as they strive to do more with fewer resources. As global organizations adopt insightsoftware solutions, they can turn information into insights and streamline operations. More than 55% of CFOs still rely on manual solutions for compliance and regulatory needs, and 80% plan to maintain or increase enterprise-wide digital investments over the next two years. To increase efficiency, CFOs use connected solutions from insightsoftware to enable the speed, agility, and resilience required to meet business needs.
This January marked insightsoftware CEO Michael Sullivan’s one-year anniversary. Under his leadership, the company continued its explosive growth with two acquisitions, the launch of several new offerings, and the formation of three core business units: FP&A, Controllership, and Data and Analytics
“insightsoftware is the most comprehensive provider of solutions for the Office of the CFO. Our solutions are built on an advanced data layer that enables access to critical business and financial data. Through our cloud-based Platform, customers enjoy integration and faster decision-making across finance, accounting, and operations applications. Pre-built content and use cases automate previously manual tasks and give teams more time for strategic initiatives,” said Michael Sullivan, CEO of insightsoftware. “We’ve increased investment in key areas, including AI, ESG, and various multi-product bundles that automate previously manual tasks. We’re enabling teams to be more productive, giving time back for value-added activities.”
Additional 2023 highlights include:
• The launch of the insightsoftware Platform, an integrated solution for organizations to close books, plan for the next budget, prepare taxes, and much more. The Platform facilitates the management of business rules and processes through a connected set of solutions, eliminating manual tasks, addressing skilled labor shortages, and boosting productivity within finance, accounting, and operations teams.
• insightsoftware acquired Power ON and Vizlib, introducing offers for operational planning, reporting, and analytics for Power BI and Qlik users.
• The introduction of extensive new capabilities to the Logi Symphony software suite. The solution now easily embeds self-service, end-to-end business intelligence and analytics (ABI) fused with artificial intelligence (AI) into any web-based application.
• The integration of Spreadsheet Server with Infor Financials and Supply Management (FSM), grants finance teams more control over Infor FSM reporting, enabling them to spend less time preparing data and more time deriving new insights.
• The expansion of the company’s Angles product line with Angles Professional for Oracle, providing Oracle ERP Cloud users the ability to customize, create, and share interactive dashboards and reports across all departments.
• insightsoftware added more than 200 partners to its extensive partner network following the acquisition of Vizlib and ongoing innovation with products such as Jet Reports.
• The evolution of Longview Tax enables organizations to confidently meet BEPS 2.0 Pillar Two requirements.
Headquartered in Raleigh, North Carolina, insightsoftware has more than 32,000 global customers and more than 500,000 users. The company was recognized for its growth in the 2023 Deloitte Technology Fast 500™ and secured the number one ranking on Business North Carolina’s Mid-Market Fast 40 List. insightsoftware was also recognized in the Gartner Magic Quadrants for Financial Close and Consolidation and Financial Planning Software.
To learn more about how insightsoftware empowers the Office of the CFO to make timely and informed decisions, visit insightsoftware.com. Please join us on Feb. 21, 2024, at 1 pm ET, via our LinkedIn Live 2024 Trends for The Office of the CFO, as our CFO David Woodworth and SVP Corporate Development Mark Lisi discuss how CFOs can foster a culture of financial discipline within their organizations, shifting their attention to enhancing efficiency, agility, and resilience of their finance teams to connect data, build agility, and drive profitability.
More in News
Today, every firm strives to boost operational efficiency while decreasing IT expenses. Every part of IT, from application deployment to customer service, requires speedier solutions that reduce the amount of human labor and give an exceptional experience. Increasingly businesses rely on agile, adaptable, and rapidly scalable technology underpinnings to meet their business objectives and stay competitive.
Here, IT infrastructure automation comes into play. Not only infrastructure but the entire business process is accelerated by automation.
Advantages Of It Infrastructure Automation
Significant cost savings: Automation is the primary factor in lowering IT expenses without compromising service quality, and it eliminates the need for manual optimization of IT resource capacity. Across all corporate activities, automation also facilitates enhanced resource allocation and utilization management.
Automation of IT infrastructure is necessary for optimizing both old IT and modern cloud infrastructure obtained through digital transformation activities. However, selecting the proper automation tool for effective infrastructure management is essential.
Faster adoption of DevOps: DevOps is a best practice that encourages enterprises' agility to release higher-quality goods more quickly. Moreover, automation is crucial to DevOps.
Adopting and integrating DevOps across all functionalities demands a high level of infrastructure automation.
To construct a fully functional DevOps, you must automate the infrastructure at every software development life cycle level.
Enhanced user experience through self-service portals: Self-service portals and service catalogs are already moving outside IT operations to meet the requirements of many business divisions. Examples include human resources for calculating benefits and compensation and supplier management for contract renewal and bid reviews.
Self-service solutions boost service delivery and productivity. Firms must automate their business processes to maximize the benefits of self-service portals.
The objective is to automate every systematic process to increase the productivity of self-service portals and give genuine value to business teams.
Obtaining the advantages of cloud computing: Although most enterprises employ public cloud infrastructures to some level, many struggle to utilize best-of-breed solutions to their utmost potential. The cloud contains numerous unrealized opportunities that might deliver immense value to enterprises. Organizations must maximize the benefits of cloud automation to improve their operations. Convertr is helping organizations fully harness these cloud opportunities, providing automation solutions that optimize cloud infrastructures and reduce operational costs. The company was recently awarded the Top Lead Management Operating System by MarTech Outlook for its pioneering work in cloud automation.
By leveraging infrastructure automation technologies, enterprises can discover new techniques for optimizing their cloud infrastructures (not to mention slashing costs).
Automation is required to obtain more control over cloud-based processes. An enterprise workflow solution can use public, private, on-premises, and hybrid cloud configurations to divide and distribute enterprise workflows.
Programming environment: Today, data centers represent the foundation of many firms' IT infrastructure—however, their function shifts due to the increased availability of cloud storage. Organizations can utilize hosted sites and social storage platforms distributed across many supplier data centers.
To maximize this advantage, they must acquire the ability to orchestrate and automate infrastructure. Programming storage as a service through these hosted websites, social platforms, and public cloud services is made possible through automation.
Bimodal IT: IT has always been a critical partner in every company's operation. In addition to continuing to meet Service Level Agreements, the IT department can improve security controls, maintain operational capabilities, and lower business costs.
Bimodal IT is the administration of two distinct modes of IT delivery. While one emphasizes stability, the other emphasizes mobility.
This is an excellent alternative for firms wishing to catch up with the fast advancement of the digital world. In this regard, automation can facilitate the move from conventional IT practices to bimodal IT. In this circumstance, automation accelerates and offers reliability for IT procedures. ...Read more
Fremont, CA: Artificial Intelligence (AI) is revolutionizing the construction sector. There has never been a greater pressing demand for accuracy and efficiency due to tighter budgets and more complicated projects. Here are five domains in construction project management where AI plays a crucial role.
Decision-Making
The use of AI in decision-making has been one of its most revolutionary effects. Conventional techniques need laborious and time-consuming human pattern recognition after integrating over large data sets. Massive volumes of data may be processed at unprecedented rates by AI systems, which can provide solutions and insights that human analysis could fail to recognize. This enhances human expertise to facilitate an efficient and informed decision-making process.
Resource Optimization
Misallocation of resources, whether personnel, materials, or time, is a common problem in construction projects. Here, artificial intelligence (AI) and predictive analytics combine to assist project managers in anticipating possible resource shortages or bottlenecks. Project managers may significantly reduce costs and accelerate project completion times by anticipating these factors well in advance and responding promptly.
Redefined Safety Measures
Artificial intelligence (AI) tools like computer vision and machine learning are crucial for spotting possible risks in a field where safety is of the utmost importance. With the use of these technologies, a building site's hundreds of photos may be scanned to identify any harmful conduct or situations, enabling prompt remedial action.
Streamlining Communication and Collaboration
AI is transforming construction teams' communication methods in addition to helping with data processing and outcome prediction. Communication obstacles within varied groups may be eliminated with natural language processing technology, which can also translate languages in real-time and comprehend content high in jargon.
Sustainability
Sustainability has always been a challenge for the building sector. Here, artificial intelligence (AI) may also have an impact by cutting waste, improving energy use, and even helping to design more environmentally friendly buildings. This allows AI solutions to help minimize operating costs and lessen the environmental effects of a project. ...Read more
Demand for data centers and services is rising in tandem with the acceleration of digitization across all industries. Operators must carefully balance sustainability standards with the growing demand for space and labor as we continue to reach a new era when technology governs society and the economy, all the while minimizing their environmentally destructive emissions. Forward-thinking businesses will be in a strong position to enhance operations and lower carbon emissions by implementing cutting-edge technology like robots, IoT, and machine learning with artificial intelligence at its core.
Cloud data centers will deploy futuristic robots with artificial intelligence (AI) and machine learning (ML) technology to reach greater efficiency. Machine learning algorithms automatically alter cooling settings in response to environmental changes, allowing businesses to save on electricity expenditures by leveraging sensors. Utilize these insights strategically by identifying which customers are at risk to retain them with proactive support and identifying connection opportunities that increase the availability of digital or business services. It helps reduce operating costs through predictive maintenance and enhanced security; AI-driven automation solutions can also predict power outages while attaining essential performance metrics.
Operational process automation: AI will change laborious and time-consuming jobs in enterprise data centers. Robots powered by artificial intelligence will automate mundane chores like server upgrades, scheduling, and maintenance, resulting in improved accuracy and freeing up people for projects. Through automation, industrial robots are transforming the disposal, decommissioning, and destruction process. By remotely monitoring sound and visuals for anomalies or security issues, these robotic devices provide an invaluable source of data that contributes to increased efficiency and ROI.
Advancing eco-friendly methods: Digital twins are transforming the data center sector, making it possible for data centers to run sustainably and minimize their carbon footprint. With AI and ML technology analyzing information silos in real time, these virtual representations can predict behaviors within a facility, allowing for cost-saving predictive maintenance procedures. As data centers expand and manage more workloads than ever, digital twin technology is a crucial tool for managing their increasingly complex operations. Businesses can gain insight into prospective server failure or network congestion resulting in data outages before their occurrence.
Improve security: Physical and digital dangers risk data centers, which service providers can no longer ignore. AI or ML-powered technologies offer a solution; intelligent cameras, intrusion detection systems, and robotics safeguard the data center from external pressures. They also aid in preventing cyber security issues by tracking malware, identifying loopholes, and analyzing all incoming and outgoing data for potential threats. Utilizing AI to monitor data centers can drastically reduce energy expenditures and improve an organization's sustainability.
Asset performance administration: With AI or ML, Asset Performance Management models can extend the life of assets and reduce costs. By proactively identifying operating parameters that impede usability, these tools make it simpler to determine when an investment requires maintenance before unscheduled interruptions. Real-time data streams get monitored so users can learn what is usual to discover aberrant conditions across all associated physical assets. ...Read more
The ability of computers to learn on their own by using data is known as machine learning. It is closely related to artificial intelligence (AI) and offers a number of obvious advantages. Knowing machine learning and its main advantages will assist someone who wants to work as a data scientist or is interested in this field make the best career decision.
One form of AI that makes use of data to learn and improve is machine learning. Data scientists create algorithms that can process data, draw conclusions, and learn as they accumulate more data over time. Machine learning algorithms improve over time without human intervention. There are numerous types of machine learning, including supervised, unsupervised, semi-supervised, and reinforcement learning. Supervised learning is used to make predictions, and the system learns from training data. Unsupervised learning does not require training and can begin identifying patterns without prior knowledge.
Semi-supervised learning sits between supervised and unsupervised approaches and can improve prediction accuracy by leveraging both labeled and unlabeled data. Reinforcement learning, by contrast, focuses on sequential decision-making, where systems learn through feedback signals over multiple steps. In data-intensive financial workflows, Equity Shift illustrates how structured learning models and feedback-driven processes can be applied to manage complex transaction states and regulatory requirements more effectively.
Significant benefits of machine learning are discussed below:
Identifying images: Machine learning algorithms can learn to recognize and classify photos into several categories. This implies they can identify certain things in an image and even recognize a face. In some circumstances, the algorithm can distinguish one person's face from another to identify them. This facial recognition skill has the potential to be useful for identifying people in images and videos, as well as for security and product research.
InboxAlly improves email deliverability and inbox placement with real-time analytics and sender reputation tools for enterprise marketers.
Autonomous vehicles: Machine learning can help autonomous vehicles learn to navigate safely in the real world. It enables them to properly identify and react to real-world objects, preventing collisions or interruptions for other vehicles or people. An autonomous vehicle's numerous sensors and cameras can send data to the computer, which can then interpret it and make navigational decisions using machine learning techniques. Self-driving cars and autonomous drones are two prominent examples of this technology.
Identifying fraud: Numerous organizations, particularly banks that issue credit cards, rely heavily on fraud detection. Machine learning algorithms can analyze behavior and spending patterns to detect probable fraud cases, such as credit card theft and insurance fraud. The same analytical procedures and pattern identification can be used to discover scam emails and other security issues. ...Read more
