insightsoftware IDL
insightsoftware is a US-based global provider of solutions for the office of the CFO backed by private equity investors Hg, TA Associates and Genstar Capital. The company employs more than 2,400 people worldwide and serves 32,000 customers with more than 500,000 active users in 150 countries. insightsoftware was formed in 2018 out of a merger of Hubble by insightsoftware.com and Global Software, Inc.
The vendor’s rapid growth in recent years has been driven by the acquisition of vendors such as Bizview, Calumo, Certent, CXO, IDL, Longview, Power ON and Viareport. This strategy has resulted in a broad portfolio of software solutions for financial planning and analysis (FP&A), controllership and data and analytics.
insightsoftware’s product portfolio includes cloud and on-premises solutions for the key processes of today’s finance organizations: financial reporting, operational reporting and analytics, budgeting and planning, close and consolidation, tax and compliance, accounting and treasury, ESG, embedded analytics, automation and data management. These solutions can be used independently or in combination and are offered on the basis of customer requirements and strategic direction (e.g., use case, UI requirements, industry, global or local orientation of an organization, company size, connectivity to source systems, etc.). The overall objective is to enable the office of the CFO to connect to and make sense of existing enterprise data to drive greater financial intelligence across their organization.
Within the DACH region, insightsoftware’s FPM strategy strongly focuses on IDL and its software applications for FPM, offering professional expertise in all aspects of financial consolidation and close, planning, budgeting and forecasting, management and regulatory reporting and analysis. IDL was founded in 1990, was acquired by insightsoftware in 2020, and has offices in Germany, Austria, Switzerland (DACH) and France. Today, insightsoftware sees IDL’s comprehensive FPM platform as a strategic element in its future success and expansion in the DACH region and bordering countries.
IDL’s FPM suite is an integrated platform and includes modules for financial consolidation and close (IDL Konsis), financial planning (IDL Forecast), operational planning, reporting and analysis (IDL Designer) as well as disclosure management (IDL Publisher). Furthermore, complementary solutions for financial filings and prebuilt content for specific industries and use cases are available. IDL solutions can either run on-premises, as cloud services (leveraging Microsoft Azure) or in hybrid scenarios.
IDL supports scenarios for financial planning with IDL Forecast and for operational budgets (e.g., sales, HR, etc.) with IDL Designer. IDL Forecast is targeted at business departments, which often belong to a group of companies. Company-wide financial results plans (balance sheet, P&L, cash flow) at subsidiary or group level can be created. Therefore, IDL Forecast provides a predefined financial (planning) data model with intertwined business rules, based on relational data storage. Thanks to its tight integration with IDL Konsis, it is possible to immediately consolidate plan data (or actuals) while taking into account planned intercompany allocations. IDL Konsis offers comprehensive capabilities for legal consolidation (IDW PS 880 certified) including intercompany reconciliation as well as management consolidation. Extensive predefined business rules for financial management are available as standard in the solution.
For additional requirements that cannot be covered by IDL’s own solutions, integration with other insightsoftware applications is possible.
User & Use Cases
This year we had 19 responses from insightsoftware IDL users. At the time of the survey, 20 percent of them were using version 2021, 53 percent version 2022 and 27 percent version 2023.
