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insightsoftware Recognized in the 2023 Gartner® Magic Quadrant™ for Financial Close and Consolidation Solutions

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November 29, 2023

insightsoftware is a global provider of reporting, analytics, and performance management solutions, empowering organizations to unlock business data and transform the way finance and data teams operate.

23 11 Blog Gartnermq Financialclose Website

insightsoftware is thrilled to be recognized as a Niche Player in the 2023 Gartner Magic Quadrant (MQ) for Financial Close and Consolidation Solutions (FCCS). We believe, being recognized in this Magic Quadrant is a testament to our commitment to delivering the best financial close and consolidation solutions to you, our customers.

Understanding the Magic Quadrant

“A Magic Quadrant provides a graphical competitive positioning of four types of technology providers, in markets where growth is high and provider differentiation is distinct.

Niche Players offer a compelling product, but their approach is more focused on a particular area within the close and consolidation process, or they cater to the needs of a specific set of controllers. For example, a Niche Player may focus on specific functionalities, such as tax compliance, or focus on partnerships with specific ERPs or only target existing customers of their adjacent products. These vendors tend to display limited advanced digital capabilities, such as AI, in their roadmap when compared to vendors in other quadrants.

Understanding Our Financial Close and Consolidation Solutions

Close and Consolidation

  • Longview Close is a financial consolidation and close management solution designed to streamline and automate the financial close process for large enterprises. Achieve more with flexible and intuitive features for consolidating financial data, managing journal entries, and ensuring compliance with accounting standards. By offering a centralized platform for financial close activities, Longview Close aims to enhance accuracy, reduce manual errors, and improve the efficiency of the closing process.
  • IDL Konsis is a financial consolidation and reporting tool designed to support midmarket companies’ in consolidating financial data efficiently and accurately. IDL Konsis facilitates the integration of data from different sources, automates consolidation processes, and aids in the preparation of financial statements. The goal is to enable organizations to produce timely and reliable financial reports, ensuring compliance with accounting standards and regulations.
  • Clausion Consolidation is a financial consolidation solution developed to assist businesses based in the Nordics with consolidating their financial data so they can confidently comply with accounting standards and regulations. Clausion simplifies the complex task of consolidating financial information from various entities or subsidiaries, providing a comprehensive view of the organization’s financial health. This kind of software is particularly valuable if you have a larger company with diverse business units.

Disclosure Management

  • Certent Disclosure Management (CDM) is a disclosure management tool that helps you create and manage accurate and compliant reports for internal, external, and regulatory purposes. Whether you need to file quarterly reports, annual reports, sustainability reports, or any other type of narrative report, CDM can streamline the process and ensure consistency and quality. When paired with Longview Close or IDL Konsis, CDM helps automate and accelerate the financial close to disclose cycle, saving time and resources.

Tax Reporting

  • Longview Tax is a comprehensive tax automation solution designed to streamline and optimize the tax lifecycle for businesses. It provides advanced capabilities for data collection, compliance, and reporting, helping your organization ensure accuracy and efficiency in your tax processes. With robust features and integration capabilities, you’ll be able to support complex tax regulations, including Country-by-Country Reporting and BEPS Pillar Two while improving overall tax management during your close.
  • Longview Transfer Pricing is a flexible and extensible solution that helps you manage your operational transfer pricing effectively. You can use it to create and monitor your transfer pricing policies, report and analyze your results, and adjust your prices as needed throughout the year. With Longview Transfer Pricing, you can reduce manual work, ensure data accuracy, and align your transfer pricing with your business strategy. You can also collaborate with different stakeholders and operations across your organization and respond to changing market conditions and regulations. Longview Transfer Pricing empowers you to take control of your transfer pricing and monitor profitability organization-wide.

We are excited to have been recognized in the 2023 Gartner Magic Quadrant for Financial Close and Consolidation Solutions and look forward to continued innovation and improvement of our solutions within this market. We have an exciting roadmap for 2024 with new features and capabilities.

In choosing insightsoftware, you can trust that you are working with a reputable and reliable provider. Learn more about how we’re leading the way in close and consolidation.

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Gartner, Magic Quadrant for Financial Close and Consolidation Solutions, 27 November 2023. Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.