Christian Gheorghe, CEO
Today, finance is evolving as a strategic driver in organizations and, with the help of the latest technologies, is enabling planning far beyond financial reporting. With the fast moving business environment, there is demand for more accurate projections to help the finance industry manage data, analyze performance, and share it with other decision makers and employees alike. CFOs need to be equipped with modern technology that allows them to be in the driver’s seat. Serving this emerging budgeting and forecasting need in the market, Tidemark Systems is strategically equipping clients with a modern cloud based platform for financial and operational planning, predictive forecasting, and advanced analytics. While various solution providers are focusing more on incremental improvements like hosted spreadsheets, “we didn’t want to do another spreadsheet in the cloud for finance, but rather we wanted to enable true real-time planning for finance with other lines of business,” states Christian Gheorghe, CEO, Tidemark. “We recognize a spreadsheet can still provide value, however we don’t think a growth ambitious company can really empower its finance team to be the strategic driver of decision making and partner to other LOBS with tools of the past like Essbase and spreadsheets.”
The firm’s cloud and mobile-first platform, offers a range of unified applications for the finance domain such as financial consolidation, operational and financial planning, performance analytics, profitability modeling, and people planning. In addition, Tidemark’s packaged processes help organizations address industry-specific measurements, compliance, and best practices right out of the box and helps avoid lengthy customization times. “We have packaged processes for highly regulated industries like energy, retail, hospitality, insurance, recurring revenue, and higher education,” says Gheorghe.
We put the customer first and make sure our relationship with them extends beyond our call of duty
The Tidemark platform drives budgeting and planning real-time data, runs what-if scenarios based on existing and external data, analyzes performance and produces machine-learning driven forecasts. Tidemark facilitates predictive modeling and big data integration and analysis all within the financial planning environment. With the new Tidemark Compete platform released last fall, customers can also benchmark their performance against other companies in the market. For example, the organization has a Financial Planning and Analysis (FP&A) team in a Fortune 100 brand that uses Tidemark to analyze market share by region, zip codes, and product category within its planning environment. They benchmark the data against competitors and then correlate it to the company’s performance in key categories.
Tidemark’s solutions enable clients in different sectors to overcome business problems and attain desired outcomes quickly. In one instance, Tidemark enabled ReddyIce, one of the largest suppliers of ice bags to retail stores nationally, to integrate third party data into their planning environment. As a supplier of ice, the client required a fair knowledge of weather patterns to figure out the quantity to be transported, and the workforce and staffing issues that go along with it. Tidemark assisted the ReddyIce team to link their finance and operations data with weather.com, which resulted in the client making accurate logistics decisions and saving significant revenue.
The tenacity and focus of Tidemark to offer innovative solutions is evident from the success stories it has garnered over the years. “We put the customer first and make sure our relationship with them extends beyond our call of duty,” remarks Gheorghe. Moving ahead, the company will continue to deliver first-to-market solutions that drive financial transformation. “Last year, we’ve grown at over 300 percent year-over-year and added great brands to our roster of clients,” concludes Gheorghe.