Despite substantial corporate investments in financial software, numerous finance departments persist in using Excel for tasks like account closing, data reconciliation, and audit preparation. To tackle this issue, two seasoned Microsoft veterans have launched Maximor, a startup dedicated to automating finance teams' foundational tasks through AI agents, thereby diminishing reliance on spreadsheets.

Maximor's AI agent network seamlessly integrates with ERP and CRM systems, autonomously extracting transaction data, generating real-time financial visualizations, and accelerating month-end closing processes. Take Rently, an early adopter, which slashed its closing period from eight days to just four—without expanding its accounting team.

Beyond streamlining closings, Maximor's agents automate working paper generation, maintain audit trails, and facilitate smoother audits. While the platform aims to reduce Excel dependency, it ensures compatibility by allowing data exports in Excel format, catering to both auditors and finance professionals.