insightsoftware Announces the Acquisition of Longview Solutions
20 Feb, 2020, 08:00 ET
Deal furthers company's strategy to digitally transform the Office of the CFO; expands market-leading capabilities in financial reporting, consolidation, budgeting and planning, and adds tax reporting
RALEIGH, N.C., Feb. 20, 2020 /PRNewswire/ -- insightsoftware, the global leader in enterprise resource planning (ERP) and enterprise performance management (EPM) reporting solutions, today announced it has acquired financial planning and tax software provider Longview. Terms of the deal were not disclosed.
Based in Toronto, with additional offices worldwide, Longview's solutions enable CFOs and corporate finance and tax teams to be strategic leaders through software that elevates planning, consolidation, tax reporting, and analytics from the underlying data collection process. The company supports more than 100,000 users at 700 enterprise customers in more than 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 acquisition bolsters insightsoftware's global presence and customer base 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. As data volumes and complexity grow exponentially, insightsoftware's customers will benefit, in particular, from the ability to connect to and make sense of tax, close, and consolidation data, to drive greater financial intelligence across their organizations.
The acquisition of Longview also marks insightsoftware's entrance into the corporate tax market, which is a high-growth area as multinational companies look to automate the collection, analysis, and reporting of tax implications across various countries to improve profitability and strategic decision-making. As an example, multinational customers use Longview's Operational Transfer Pricing (OTP) solution to perform analytics, run scenario analyses, and then build, execute, and manage intercompany transactions and optimize the tax impact across operations in different tax jurisdictions.
"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 & 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."
"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."
"We're proud of the team, solutions, and customer base Longview built over the past 25 years, all guided by the principle that finance teams could gain a real competitive advantage through our critical insights distilled from vast and disparate data points," said Mark Hatton, CEO of Longview. "Combining with insightsoftware accelerates and expands that advantage as our customers now have access to its full portfolio of intelligent, automated reporting, analytics, and budgeting solutions – with unprecedented real-time data insights and granular drill-down views – that connect to more than 140 ERPs and EPMs and fit any business size or industry."
Headquartered in Raleigh, North Carolina and operating in 17 countries, insightsoftware is backed by TA Associates, Genstar Capital, and ST6 Partners.
insightsoftware is a leading provider of financial reporting and enterprise performance management software. We enable the Office of the CFO to connect to and make sense of their enterprise data in real time so they can proactively drive greater financial intelligence across their organization, which is how best-in-class finance teams operate. Over 25,000 organizations worldwide rely on insightsoftware's portfolio of best-in-class reporting, analytics, budgeting, forecasting, consolidation, and tax solutions to provide them with increased productivity, visibility, accuracy, and compliance. Visit insightsoftware.com for more information.
Longview creates enterprise software that connects Finance and drives competitive advantages for organizations. Hundreds of thousands of business leaders from Global 2000 companies, operating in more than 150 countries, leverage Longview daily to make strategic and immediate business decisions with confidence. Longview elevates planning, consolidation, tax reporting, and analytics from data collection and validation to strategic business processes. Longview's 25+ years of domain knowledge and experience, combined with our state-of-the-art cloud-based and on-premise platforms, deliver the most robust and innovative performance management solution in the marketplace. Longview is a global company headquartered in Toronto, Canada with offices around the world. Visit our website for more information: www.longview.com.
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