Insightsoftware Acquires CALUMO
- Deal accelerates insightsoftware’s strategic focus and leadership in budgeting and planning solutions for mid-market companies while significantly expanding its business in Australia
insightsoftware, a global provider of financial reporting and performance management solutions for the Office of the CFO, announced it has acquired CALUMO. This deal expands insightsoftware’s position in budgeting and planning, specifically in the Asia Pacific region. CALUMO integrates with insightsoftware’s financial reporting functionality to give mid-market customers the ability to report on every area of their business. The deal demonstrates insightsoftware’s commitment to global scale and expanding in the Asia Pacific region, especially in the key Australian market. Terms of the deal were not disclosed.
As a company grows, manually collecting and reconciling data from large, remote teams and multiple financial sources into a consolidated spreadsheet wastes time, facilitates errors, and makes immediate data analysis nearly impossible. CALUMO’s all-in-one budgeting and planning solution is fully integrated with Microsoft Office and gives mid-market businesses a simple, cloud-based platform to manage their company’s performance in real-time. Widely recognized in the industry, CALUMO earned top-rankings in the budgeting and planning technology, ease of use, product satisfaction, and additional categories highlighted in the Business Application Research Center’s (BARC) BI & Analytics Survey 21, the largest annual survey of BI and analytics software users in the industry.
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“Mid-market companies across Asia Pacific have long been handcuffed by time-consuming data collection and manual analysis of data within their budgeting and planning process, so this deal is in line with our mission to empower finance teams with better, automated tools and real-time access to their data,” said Shirley Riddick, insightsoftware’s General Manager of Asia Pacific. “With regional headquarters in Sydney and three other offices in the region, we are well positioned to capitalize on new opportunities for CALUMO’s budgeting and planning software while the deal also expands our customer base and business in Australia by 50%, a key market for growth in the region.”
Headquartered in Sydney, CALUMO serves more than 100 customers across a range of industries, including Allens Linklaters, Arts Centre Melbourne, LifeHealthcare, Macquarie University, Mainbrace Construction, New South Wales government and University of Canberra, among others. Offering a scalable, cloud-based platform with integrations to key enterprise systems such as Xero, Acumatica, Microsoft Dynamics Business Central, and NetSuite, CALUMO provides an all-in-one budgeting and planning solution with a modern UI. The integration with Microsoft Office allows finance teams to build and update dashboards, reports and presentations with real-time data without ever leaving Excel, Word or PowerPoint.
“Our missions are so tightly aligned. insightsoftware represents the ideal growth partner for our people and our customers. They share a common vision for dramatically improving the lives of finance teams. By providing them better tools and instant, trusted data, those teams are freed to maximize their impact for the benefit of themselves and their orgainzations,” said Dominic Parsons, CEO of CALUMO. “With insightsoftware’s team and resources behind us, we can now rapidly accelerate the growth of our community bringing CALUMO to the broader Asia Pacific region.”
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