Enterprise resource planning (ERP) and enterprise performance management (EPM) company insightsoftware has announced its acquisition of financial planning and tax software provider Longview, according to a Thursday (Feb. 20) release.
The move is meant to bolster insightsoftware’s financial planning capabilities on a corporate level. The terms of the agreement were not disclosed.
Longview is based in Toronto, and it helps CFOs and corporate finance teams to lead using software that aids in consolidation, planning, reporting of taxes and analytics from data collection.
Longview supports over 100,000 users at 700 companies in over 100 countries.
“Serving a diverse range of industries from financial services, technology, consumer packaged goods, and energy to higher education, construction, and industrials, Longview works with blue chip companies worldwide, including Deloitte, Samsung, Shell, BMW, Vodafone, Hasbro, and more,” the release said.
The acquisition will help to strengthen insightsoftware’s presence around the world and bolster its customer based by “building on its strategy to deliver market-leading solutions that automate and simplify the complex financial and operational reporting requirements of the Office of the CFO,” the release said.
The company said its customers will benefit from an ability to connect as well as understand tax, close and consolidation data, even as data volume and complexity continues to increase.
“Our clients and my team members have had great success working with Longview on process improvement projects over the past 10 years,” said Scott Hice, partner and national practice leader, tax performance engineering at BDO USA, LLP. “As Longview joins insightsoftware, we’re confident opportunities will expand with the additional scale and resources. We can now offer our clients more of the financial and tax solutions they need, all from a single provider.”
By acquiring Longview, insightsoftware is also moving into the corporate tax market, a high-growth area.
“While digital transformation is revolutionizing other areas of global enterprises, the Office of the CFO continues to struggle with a disjointed and inefficient process for reporting on key operational, financial, and tax data,” said Mike Lipps, CEO of insightsoftware. “Longview’s focus on creating ‘Connected Finance’ aligns with our vision of empowering finance teams with intelligent solutions that automate, accelerate, and visualize the end-to-end financial management process to drive more informed, strategic decisions in real time.”