Despite millions spent on financial software, most finance teams still depend on Excel for closing books, reconciling numbers, and preparing audits. Now, two former Microsoft executives want to change that. They’ve launched Maximor, a startup built to replace Excel with AI-driven finance agents that automate tedious, error-prone workflows.
Image Credits:Maximor
Why Finance Still Relies On Excel
Excel spreadsheets remain deeply entrenched in finance departments. Even with powerful ERP, CRM, and billing systems, mid-sized companies and enterprises often fall back on spreadsheets. Teams manually export transactions, reconcile entries, and rely on functions like VLOOKUP to align numbers across multiple files. This reliance slows operations and increases the risk of errors.
The Launch Of Maximor
With the mission to transform finance, former Microsoft execs launch AI agents to end Excel-led finance through Maximor. The startup just came out of stealth with a $9 million seed round led by Foundation Capital.
Co-founder and CEO Ramnandan Krishnamurthy explained that Maximor’s AI agents connect directly to ERP, CRM, and billing systems. By continuously pulling transactions, the agents unify operational and financial data. Instead of waiting until month-end, finance teams gain real-time visibility into their numbers.
Cutting Closing Time In Half
The benefits go beyond convenience. Maximor says that its early customer, proptech firm Rently, cut its month-end close from eight days to four. The company also avoided the need to hire two additional accountants. Rently’s CFO Dustin Neel noted that nearly half the team’s time was redirected from manual number-crunching to more strategic, business-focused work.
How Maximor’s AI Agents Work
Maximor’s financial agents integrate with popular ERP platforms such as NetSuite and Intacct. By automating transaction tracking and reconciliation, they help finance teams:
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Reduce time spent on manual tasks.
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Improve accuracy and consistency across reports.
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Free up resources for strategic financial planning.
A Future Beyond Excel
The launch of Maximor highlights a major shift in how finance teams may soon operate. Instead of clunky spreadsheets and manual processes, AI agents could offer continuous, accurate, and automated finance operations. If successful, Maximor could mark the beginning of the end for Excel as the backbone of finance departments.
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