Tidemark Introduces New Financial Consolidation App And Announces International Expansion
New App Transforms Traditional Finance Consolidation Process into a Collaborative Experience that Engages Stakeholders Across the Organization
REDWOOD CITY, Calif. and London– April 2, 2014 – Tidemark, maker of the next generation cloud-based business planning and analytics solutions, today announced plans to expand internationally and introduced a new financial consolidation application in advance of its upcoming Spring 2014 Release.
The company is announcing that Tidemark’s initial European presence will be in the United Kingdom, France, Germany and Benelux, as well as working with its ecosystem of global partners to serve customers in these and other major markets throughout Europe.
With the growing adoption of cloud-based services in Europe, the growth potential for innovators like Tidemark is enormous. Morgan Stanley* predicts adoption of cloud-based applications in Europe will nearly double by the end of 2015, with cloud services, business intelligence solutions and enterprise analytics applications accounting for much of the 3.7 percent growth in IT spending expected there this year.
“Tidemark is a truly disruptive force in the enterprise performance management software market,” said Christian Gheorghe, founder and CEO of Tidemark. “We’ve helped North American enterprises transform their businesses by displacing costly, inflexible legacy platforms with intuitive, modern applications built for the cloud and designed for anyone using any device. We are very excited to bring this next-generation approach to businesses in Europe that are looking to uncover opportunities for expansion and profit.”
A growing number of companies, including, Netflix, Acxiom and ServiceSource, rely on Tidemark to achieve more accurate insight into their ongoing performance, reduce hours spent budgeting and planning, and minimize the risks that come with operating in a constantly changing business environment.
Spring 2014 Release Preview: Tidemark Financial Consolidation App
As a silver sponsor at the Workday Rising Europe conference Tidemark will showcase its new Financial Consolidation App. The new application takes the traditional consolidation process – where financial and performance information from across the organization come together for analysis and reporting purposes – and turns it inside out. The new Tidemark app transforms consolidation from a laborious, endlessly iterative process involving just a few group controllers into a collaborative experience that engages stakeholders throughout the organization, captures and keeps all crucial contextual information, and updates consolidation data in real time. This application allows group controllers and executives to not only see consolidated data, but also drive context within analytic processes and collaborative workflows so that their organizations can focus on making data-driven decisions on what’s important to the business.
With the Tidemark Financial Consolidation App, financial and operational business users are able to reconcile intercompany variances, explain differences and justify adjustments as conversations, collaborations, annotations and unstructured content are preserved throughout the consolidation process.
Of note are the Tidemark Consolidation App’s real-time capabilities that automatically updates whenever new data is present – a breakthrough capability for organizations accustomed to waiting for burdensome batch consolidations to be completed before they see results.
“Tidemark’s approach to business process is really powerful and was a key differentiator as we selected our platform,” said Chris Garber, VP, FP&A and Investor Relations, Acxiom. “We are excited to see this approach extend to Consolidation, along with Tidemark’s continued commitment to innovation.”
Tidemark helps companies foster a culture of performance with cloud-based enterprise analytics that engage the entire organization in business transformation. Tidemark’s apps involve multiple lines of business in core enterprise performance management processes, such as planning, forecasting, consolidation and analysis, for greater collaboration and context. Leading companies transforming their businesses with Tidemark include Chiquita, Hostess Brands, Chuck E. Cheese’s, HubSpot, ServiceSource and Brown University. Tidemark is funded by Greylock Partners, Andreessen Horowitz, Redpoint Ventures, Tenaya Capital and Dave Duffield. To learn more about Tidemark, please visit www.tidemark.com or follow us on twitter @TidemarkEPM