BOSTON, MA, Dec. 11, 2024 – FinQore, a leading provider of AI-powered financial data management solutions, today announced its mention in the 2024 Gartner Cool Vendors in AI for Finance report, authored by Mark D. McDonald.
Click here to read the official press release on PR Newswire
We think this recognition underscores FinQore’s innovative solution for continuously harmonizing fragmented data from multiple source systems into a single, accurate source of revenue truth. With decision-ready revenue data, actionable customer and segment-level insights, and key performance indicators (KPIs) at their fingertips, CFOs and their lean finance teams save hours on manual processes and regain bandwidth to focus on strategy. They can now provide real-time guidance to executives, empower operating teams with critical insights, and effortlessly deliver comprehensive visibility to the board.
Gartner’s Perspective on AI in Finance
According to Gartner, “This research provides finance transformation leaders with a collection of solutions that use AI to solve problems traditionally underserved by technology.” In our view, being named a Cool Vendor signifies a solution that is not only innovative but also transformative, if not disruptive. We believe that for FinQore, this recognition affirms its unique approach of combining AI, advanced algorithms, and human expertise to help finance teams automate manual data processes with unmatched transparency, speed, and accuracy.
The Finance Team Challenge: Complex Data, Delayed Monthly Close, and Hours Of Manual Work
As businesses scale, revenue and customer data often become dispersed across siloed systems. Additionally, introducing new products, acquiring other businesses, and diversifying revenue streams—such as subscriptions, transactions, one-time revenue, and usage-based models—contribute to an increasingly dynamic and complex data landscape. Consequently, finance teams spend countless hours manually extracting and consolidating this data for analysis, forecasting, and reporting. This labor-intensive process delays monthly closes, often requiring finance teams to work around the clock. As a result, they have less time for strategic analysis, limiting their agility in responding to rapid market changes.
FinQore’s Approach: AI, Algorithms, and Human Expertise
Most finance software tools extract data from source systems without automating the time-consuming workflows required to harmonize and deeply segment data for businesses with complex revenue models. FinQore bridges this gap with a fully managed, AI-powered platform that is:
By automating these processes, FinQore saves finance teams over 60 hours per month, reduces risk with consistently reliable data, and accelerates decision-making with insights delivered 10x faster. With human experts validating every output, finance teams gain the efficiency of AI with complete confidence in accuracy.
“As organizations face growing financial complexity, they rely more and more on tools that enable efficiency, accuracy, and deeper insights,” stated Jim O'Neill, Co-Founder and CTO of FinQore. “Until recently, the state of the art was custom-built data pipelines, third-party ETL tools, and vast amounts of data transformation and hard-coded business rules. By combining AI, a highly configurable data-management platform, and human experts in finance and data, FinQore delivers the only one-size-fits-one platform that reduces business risk, saves at least one FTE per month, and provides third-party verification of revenue and financial KPIs.”
“FinQore’s mission is to help CFOs turn financial data into a strategic advantage,” said Vipul Shah, Co-Founder and CEO of FinQore. “We think being named a Cool Vendor underscores our commitment to delivering a combination of AI and an expert-powered platform that lets finance teams spend less time wrangling data and more time driving business growth.”
Future-Focused, AI-Powered, and Human Verified - Financial Data Management
In our opinion, FinQore’s recognition by Gartner highlights its ability to simplify complex financial data integration and deliver advanced analytics through an intuitive, AI-driven interface. By eliminating manual bottlenecks, FinQore helps finance teams unlock actionable insights and build a more agile, strategic finance function.
To learn more about how FinQore is transforming financial data management and helping CFOs and finance teams achieve strategic objectives, talk to a FinQore Expert.
Gartner, Cool Vendors in AI for Finance, Mark D. McDonald, 4 November 2024
GARTNER is a registered trademark and service mark and COOL VENDORS is a trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. Gartner does not endorse any vendor, product, or service depicted in our 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, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Click here to read the official press release on PR Newswire