Ex-Microsoft Executives Launch AI Tool to Replace Excel Spreadsheets and Transform Finance Workflows
In a bold move to modernize corporate finance, two former Microsoft executives have unveiled Maximor, a startup harnessing AI agents to automate tedious reconciliation tasks and liberate teams from the grip of Excel spreadsheets.
Founded in summer 2024 by CEO Ramnandan Krishnamurthy and CTO Ajay Krishna Amudan—both IIT-Madras alumni with over a decade of collaboration—the company emerged from stealth mode with a $9 million seed round led by Foundation Capital.
Backed by notable angels like Perplexity’s Aravind Srinivas and Zuora’s Tien Tzuo, plus investors from Ramp, Gusto, and Big Four firms, Maximor is poised to disrupt a $100 billion industry still shackled by manual processes.
The core innovation? A network of intelligent AI agents that seamlessly integrate with enterprise tools like NetSuite, QuickBooks, Zoho Books, and various CRMs and payroll systems.
These agents continuously extract and unify transactional data, delivering real-time financial insights without the month-end scramble. Gone are the days of exporting data to Excel for VLOOKUP magic or makeshift databases; instead, the platform generates audit-ready workpapers, reviewer notes, and trails automatically.
While it doesn’t banish spreadsheets entirely—users can still export reconciled data for auditor-friendly formats—Maximor’s UI handles the heavy lifting, making it a practical bridge to the future.
This shift holds massive significance for mid-sized firms and enterprises (targeting those with $50M+ revenue) drowning in manual grunt work.
Early adopter Rently, a proptech company, slashed its month-end close from eight to four days, dodged hiring two accountants, and freed nearly half its team’s time for high-value strategy.
As Krishnamurthy notes, the agents act like junior staff: independently preparing data while humans oversee for accuracy.
This “human-in-the-loop” model, including optional outsourced accounting services, ensures reliability amid AI’s rapid evolution, supporting global standards like GAAP and IFRS.
For users, the impact is transformative—faster closes mean quicker decisions, reduced errors, and less burnout, letting finance pros focus on growth rather than data wrangling.
Businesses stand to save millions in labor and software redundancies, potentially reshaping how Fortune 500s like Krishnamurthy’s past client Coca-Cola handle finances.
Headquartered in New York with a Bengaluru office and 18 employees split evenly between the U.S. and India, Maximor is hiring aggressively and already serving clients across the U.S., China, and India.
As AI infiltrates finance, this launch signals a pivot from reactive tools to proactive intelligence, promising efficiency gains that could redefine operational agility in a data-driven economy.
FAQ
What is Maximor and how does it work?
Maximor is an AI platform that deploys specialized agents to connect with ERP, CRM, and accounting systems, automating data reconciliation and financial reporting in real time. It reduces manual Excel tasks while allowing exports for compatibility.
How does Maximor benefit businesses using Excel for finance?
It cuts month-end closing times in half, minimizes hiring needs, and redirects team efforts to strategic initiatives, as seen with early customer Rently saving four days per cycle and avoiding two new hires.
Image Source:Photo by Unsplash
