Concourse

2025 will be an exciting year for the adoption AI agents within corporate finance teams and finance workflows. Check out where we think the world is going and how finance teams are already leveraging AI in their day-to-day operations:

We launched a month ago and are already closing 5 figure deals Lessons from coming out of stealth mode and launching Concourse 🚀: 1. 👂I need to listen to Michael Seibel and Y Combinator more often. Their advice is launch fast and launch often. The amount of feedback, demos, deals, and momentum we got after our launch has been incredible. 2. 🎥 Do a launch video. Share your story and show your product. When you’re launching being, creating your narrative and sharing it with your network and target buyer is really important. It worked really well for us and as a bonus created additional product videos to show even more of the product in action without overwhelming the launch video 3. 📰 Press is still really impactful. We were super grateful for Kyle Wiggers, Mary Ann Azevedo and TechCrunch for covering our funding announcement and our launch. It really helped us gain some legitimacy and spread the word about Concourse and kick start our journey in the public. TC is the best in the business to help founders tell their story and are amazing to work with 4. 🛜 Your network makes the announcement. Our lead investors at Andreessen Horowitz and CRV + our bench of angels helped share the news and repost our launch. This helped us gain traction and start trending for the day which was important to rise above the rest of the news cycle and stories. We would not have gotten the reach and traction we got without their help 5. 🤝 Your customers can make the biggest outsized impact on a successful launch. Alex Hamacher and Ambuj Sharma and Melanie Arnold all shared their experience with Concourse which was amazing. We decided to launch only when we felt like our customers could truthfully stand by the product and share our story with their network. Once they are willing to share your story and product with their piers it's super powerful to gain visibility within your target audience 6. 📆 Clear your calendar. Launch day is super fun and you want to be ready to ping everyone you know, respond to every comment, schedule demos and meetings, and really capitalize on making it a success. It was a full 24 hour day for us but seeing the reception in the market was made it all worth it 7. 🪫Corollary to #6 - make sure the next week+ is mostly clear. You want to capitalize on the momentum you’re going to get from launching. We went to #AFP2024 the week after our launch and I should have spaced out more time in between. We had an amazing panel with Erik Zhou (Brex), Grant Connealy (Persona), and Ryan Pack (Alto) and also had a booth. It was hectic to be working the event as well as demo'ing Concourse to interested finance teams from the launch Grateful for everyone who helped make Concourse's launch a success 🙏🙏 Let me know what worked best for your launch or what launches you’ve been impressed with in the comments! Excited to apply learnings to our next one 🫡 Happy Launching 🚀🚀

What does financial reporting mean for your company? Discover the future of how financial reports and insights can now be generated by an AI agent. For most finance teams, reporting is something they HAVE to do, not something they WANT to do. This common sentiment reflects a broader challenge in financial reporting today. CFOs and finance teams are often bogged down by manual processes, repetitive tasks, and mountains of data that need to be synthesized into reports. But the truth is, effective financial reporting is more important than ever—and it’s evolving fast with the impact of AI. ✴ Why is Financial Reporting so Critical? A recent Deloitte survey found that 73% of CFOs believe finance is now a strategic partner to the business, with more than half (56%) saying that data-driven insights are central to their decision-making. But here’s the catch: reporting isn’t just about tracking numbers anymore; it’s about understanding the “why” behind those numbers. Finance leaders are being asked to not only provide the data but to interpret it, predict trends, and explain the underlying causes of financial fluctuations. Yet, many finance teams still spend the majority of their time compiling and formatting data instead of providing these critical insights. 🌆 The Current Landscape of Financial Reporting Manual Reporting Still Dominates: 53% of CFOs still rely on spreadsheets for financial reporting, according to a PwC study. This manual, time-consuming process takes up valuable resources and often leads to delayed or inaccurate insights. Time-Consuming Process: A KPMG survey revealed that 45% of CFOs say reporting takes up more than a third of their workweek. This leaves little room for CFOs to focus on strategy, growth, or innovation—areas where their leadership is needed most. The Need for Better Insights: In a world driven by data, understanding why financial performance changed is more valuable than simply noting that it did. Yet, according to McKinsey & Company, only 25% of finance teams feel they can provide real-time, actionable insights to the business. That gap is a critical pain point for many CFOs. 🚀 The Future of Financial Reporting The future of financial reporting isn’t just about month-over-month differences or comparing actuals to budget. It’s about understanding the underlying reasons behind the numbers. This is where AI Agents are starting to have an impact today. Concourse leverages advanced AI to automate financial reporting—from data gathering, to analyzing, to formatting and writing the report—allowing CFOs to move from close to insightful analysis within minutes. Out AI not only calculates key metrics but also generates natural language insights, explaining the reasons behind any fluctuations, anomalies, or trends. The future of finance reporting is here—and it’s smarter, faster, and more insightful. See Concourse in action below:

What does financial reporting mean for your company? Discover the future of how financial reports and insights can now be generated by an AI agent. For most finance teams, reporting is something they HAVE to do, not something they WANT to do. This common sentiment reflects a broader challenge in financial reporting today. CFOs and finance teams are often bogged down by manual processes, repetitive tasks, and mountains of data that need to be synthesized into reports. But the truth is, effective financial reporting is more important than ever—and it’s evolving fast with the impact of AI. ✴ Why is Financial Reporting so Critical? A recent Deloitte survey found that 73% of CFOs believe finance is now a strategic partner to the business, with more than half (56%) saying that data-driven insights are central to their decision-making. But here’s the catch: reporting isn’t just about tracking numbers anymore; it’s about understanding the “why” behind those numbers. Finance leaders are being asked to not only provide the data but to interpret it, predict trends, and explain the underlying causes of financial fluctuations. Yet, many finance teams still spend the majority of their time compiling and formatting data instead of providing these critical insights. 🌆 The Current Landscape of Financial Reporting Manual Reporting Still Dominates: 53% of CFOs still rely on spreadsheets for financial reporting, according to a PwC study. This manual, time-consuming process takes up valuable resources and often leads to delayed or inaccurate insights. Time-Consuming Process: A KPMG survey revealed that 45% of CFOs say reporting takes up more than a third of their workweek. This leaves little room for CFOs to focus on strategy, growth, or innovation—areas where their leadership is needed most. The Need for Better Insights: In a world driven by data, understanding why financial performance changed is more valuable than simply noting that it did. Yet, according to McKinsey & Company, only 25% of finance teams feel they can provide real-time, actionable insights to the business. That gap is a critical pain point for many CFOs. 🚀 The Future of Financial Reporting The future of financial reporting isn’t just about month-over-month differences or comparing actuals to budget. It’s about understanding the underlying reasons behind the numbers. This is where AI Agents are starting to have an impact today. Concourse leverages advanced AI to automate financial reporting—from data gathering, to analyzing, to formatting and writing the report—allowing CFOs to move from close to insightful analysis within minutes. Out AI not only calculates key metrics but also generates natural language insights, explaining the reasons behind any fluctuations, anomalies, or trends. The future of finance reporting is here—and it’s smarter, faster, and more insightful. See Concourse in action below:

Concourse followed-up our official launch at #AFP2024 in Nashville to be with over 6k+ finance professionals. Our founders Matthieu Hafemeister and Ted Michaels covered the conference and met with 100s of finance leaders and professionals. Some highlights + insights below: We were honored to host an official session on the real world applications of AI & finance and share the stage with finance leaders within the tech & startup community: Erik Zhou Chief Accounting Officer at Brex, Grant Connealy VP of Finance from Persona, and Ryan Pack VP of Finance from Alto. They each shared actionable steps they have taken to implement AI within their teams across accounting, reporting, and analysis workflows and shared the impact they are already seeing. Some of our main takeaways from conversations and the session: Finance as early adopters of AI ⏰: We talked with many larger corporate finance teams who were slow to adopt the cloud and SaaS but with AI it feels very different. Everyone is aware of what AI can do and most finance teams are actively looking for ways to leverage and implement AI into their work today. This shift feels much faster than other technological changes where only tech companies were early adopters. The interest from varying finance teams is more pointed than anything we've seen before. Finance teams understand the impact and possibilities of AI and don't want to miss out. Doing more with less 💪: Finance teams are facing an interesting transition within internal organizational structure. Finance teams are being told across the board that they must do more with less. This means less headcount is being made available and teams are stretching current finance teams to be more performant while continuing to grow and scale the business. At the same time, finance teams are being tasked with more responsibilities. Some examples are that we're seeing is finance being more responsible with deal desks, revOps, and even legal which means their bandwidths are even more constrained. Removing manual and time consuming work is more important than ever to continue performing under this new normal and AI agents present an interesting option. Real AI vs. Fake AI 🤖: Most finance teams are already using ChatGPT and other non-finance specific tools to help them with their work. But most have not yet found applicable finance AI tools and platforms to implement. While they haven't found the right tools, it's not from a lack of not looking + being pitch from companies claiming "AI-powered" software. Sophisticated finance leaders can see past this and there is a real ability to evaluate and understand where AI is being applied and where it's just marketing. If any of the above resonated and you're interested in chatting about AI and finance workflows please reach out at [email protected] or visit or website at www.concourse.co. We're so excited about the future of finance 🚀

Welcome Nitya Kasturi to the Concourse team 🙌 We're so excited to have you join us! Nitya's experience building products scaling FB Reels at Meta and deep data engineering and ML work Scale AI were a perfect match for our growth plans and product roadmap. She's already made a massive impact and we could not be happier to have her join the team! We're continuing to hire at Concourse for engineers in New York who are excited about AI and LLMs and building products that will completely change the way companies do finance. If you're interested in Gen AI and finance please check out open roles at www.concourse.co/careers or drop us a note!

Congrats to Matthieu Hafemeister, Ted Michaels and Concourse on their seed round co-led by CRV. By leveraging AI agents to autonomously perform manual and time consuming tasks, CFOs and corporate finance teams get to focus on what matters most. #PowerToTheCFO https://lnkd.in/dXgyKKGw #VC #venturecapital #funding #startups

Please come find the Concourse team & co-founders in Nashville next week for Association for Financial Professionals (AFP 2024) from October 20th - 23rd 2024. We have a lot in store as we follow our launch into the AFP 2024 Conference: Matthieu Hafemeister will be leading a panel discussion on the Real World Applications of AI in Finance with Erik Zhou, Chief Accounting Officer at Brex, Grant Connealy, VP of Finance at Persona, and Ryan Pack, VP of Finance at Alto. We'll be discussing how these finance leaders & teams are already leveraging AI to change the way their finance functions operate across accounting, reporting, and insight generation. Come join us Monday at 8:30 am CST in Room 103 ABC. We're also co-hosting a Future of Finance Soirée with Brex that evening on broadway in downtown Nashville and bringing together finance, technology, and AI leaders to continue the conversation & networking. Please RSVP here -- spots are limited: https://lnkd.in/eJGhciiv Finally, come find Concourse at Booth 202 at AFP to discover and demo Concourse AI Agents. We'll have some official limited launch swag, activities, and prizes. We'd love to learn more about your finance workflows and priorities! Drop by!

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