Press release no 13-2022
Copenhagen, September 28, 2022
Konsolidator adds budgeting and planning to their software
Konsolidator has entered a partnership agreement with the Australian software company, Phocas software, to deliver a budgeting and planning add-on for Konsolidator®. This means that Konsolidator has strengthened its software by adding an intuitive and modern tool that replaces spreadsheet-based, budgeting, and planning with a standardized solution, just like Konsolidator replaces spreadsheet-based consolidation.
With this software extension, customers can streamline and automate their budgeting, planning, and consolidation with a best-in-class cloud solution that supports all three core processes in group finance.
Konsolidator aims to use cloud-based add-ons and integrations to bring together various types of software that perform specialized functionality in different business areas to give customers more operational capabilities and increase the value of Konsolidator®.
Phocas is the third add-on to Konsolidator® that already counts EasyX and Leasify.
The strategic impact
An important part of Konsolidator’s strategy “Unfolding the potential” is to provide value-added applications on top of Konsolidator to address different customer needs without changing the core of the software. This means that Konsolidator can now reach customers that require budgeting and planning capabilities in combination with consolidation and expand the target group.
Konsolidator expects that 5-10 % of their current customers will employ Phocas, which will contribute to higher growth.
On a strategic level, Phocas is also an element in improving the important SaaS metric “Net Retention”.
The full-year guidance will not be revised.
A partnership agreement with international potential
Phocas is sold internationally through independent partners, which offers an opportunity to enter new markets since both software are country agnostic, built on the same technology, and easy to onboard and integrate.
CEO Nils Mandrup, Integrator – distributor of Phocas comments:
"Konsolidator® and Phocas complement each other perfectly with different cloud solutions to spreadsheet-based consolidation, budgeting, and planning. Both systems handle large data sets much better and faster than Excel and integrate easily with the current business operations, why we see great potential in this partnership delivering significant value for our customer base."
CEO at Konsolidator, Claus Finderup Grove comments:
"In combination, Konsolidator® and Phocas are a strong solution for group finance, as we can deliver on more extensive operational and financial capabilities. This enables us to attract new customer segments and increase the value of Konsolidator with simple add-ons”.
Contacts
- CEO: Claus Finderup Grove, mobile +45 2095 2988, cfg@konsolidator.com
- CFO: Jack Skov, mobile, +45 2282 8845, js@konsolidator.com
About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL
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