Financial reporting is an important part of running a business in any niche or industry. However, if your company isn’t using the latest technology to generate its reports, you are missing out on several very important benefits that could propel your business forward. Here are some of the ways in which investing in newer, better, and faster financial reporting software can benefit your business. #1 – Generating Reports with Data from Multiple Sources Gone are the days of running individual reports for each entity associated with your business, then spending hours (or even days) attempting to consolidate that data for analysis. Your financial reporting software should have the ability to gather, process, and consolidate data from as many sources as necessary – even if those sources use different currencies. If it doesn’t, it is time to consider making a switch. #2 – Automating Report Distribution Financial reports are crucial across several of your company’s departments, so it’s vital that you distribute your reports on time. If your current software doesn’t automate the distribution aspect of your reporting, this is a benefit that can completely change the way you run your business. Imagine setting up distribution from a simple, easy-to-use dashboard in such a way that the exact reports you choose go out to the right people at the right times. The time savings is incredible. #3 – Boosting Productivity It’s also important to think about how your current software may be slowing down your company’s productivity behind the scenes. Antiquated software isn’t very precise, and it takes ages to generate even those reports in many cases. When you make the switch to the latest financial reporting software and technology, you can enjoy a serious speed boost, make sure your reports are more accurate, and boost your company’s productivity by up [...]
Creating financial reports is an essential task for CFOs, accountants, and companies of any size – but it’s often tedious. Pulling data and compiling it in a way that makes sense can take up a lot of precious time that you could be spending more productively. With financial reporting software from FYIsoft, you can streamline the entire report generation process. Smart, Dynamic Design Our award winning report writer has the ability to integrate with all major general ledger systems, including Excel, meaning that you don’t have to completely abandon your current reporting system for a new one. It can also pull data from multiple sources and perform audits to ensure that nothing is missing or duplicated. One of the best features our reporting software has is automated bursting, which makes scheduling your reports simple. It can also consolidate financial data across accounts and currencies. Easily Available Because our software is web-based, you can access your reports from anywhere 24/7. It’s also secure so you can rest easy knowing that your reports are safe. When running a business, it’s helpful to have the ability to access your reports easily at any moment that you need them. Uniformity Centralized templates provide uniformly branded reports, making them easy to read and easy to keep track of from month to month. Efficiency What each of these features boils down to is increased efficiency. The reporting software streamlines the entire reporting process, allowing you to spend more time on other important aspects of your business. It can also help you get ahead of the game when it comes to expanding your business as well, since you’ll have an accurate and easy to read report on which to base strategies, and more time to fulfill those strategies. Contact FYIsoft today for more information about our software [...]
Spreadsheets are a handy way to keep track of data, but there are many disadvantages to using them as the sole program for important financial tracking. Even with a pivot table equipped with various filters to make looking at data easier, it can still take forever to compile, report, and analyze your financial data. This is especially true if you have massive amounts of data to compile. Spreadsheets also create more possibility for human error – something that you definitely don’t want in your financial reporting. So how can you streamline your accounting process? Cloud Based Reporting Cloud based accounting software is a great way to simplify your accounting process from start to finish. The best part is that it allows you to keep your current ledger systems, whether you use Excel or another system to manage your accounts. The software is simply a way to compile, report on, and analyze financial data more efficiently and accurately. Integrates with Your General Ledger System – Whether you use Excel or another major general ledger system, the cloud based software can easily integrate into the system. Pulls Data from Multiple Sources and Formats – This software can pull data from multiple places, which is handy for business owners who store important data across multiple sources. Auditing Component – The auditing component in the cloud based accounting software prevents information from being duplicated, and can ensure that data is not missing. Centralized Templates – Centralized templates provide uniform reports so they are easier to read and keep organized. Automated Bursting – The software also allows you to schedule runtimes for the software, as well as other aspects of the system. Consolidations – Cloud based reporting software also allows you to consolidate data across multiple calendars, account numbers, and currency so that you can [...]
When running a business, there are a million things to keep track of. Keeping your finances in check is arguably the most important – and the most difficult tasks that need to be completed. That’s where the financial reporting tools from FYIsoft come in. Our cloud-based financial reporting software makes it easy to maintain the financial health of your business without spending countless hours balancing your books and creating financial reports. In this blog we will cover a range of financial topics, including the various benefits of using our financial software. If you run a business and want to learn some financial tips and tricks, or learn more about our business before purchasing software from us, you should subscribe. Keeping track of your finances shouldn’t be a struggle. When you use our software, you free up time that you can use to analyze financial data and develop new strategies for financial growth. Our software can be used across a wide variety of industries including hospitality, insurance, healthcare, non-profit, and more. No matter what type of industry you work in, or the size of your company, our software can streamline your financial reporting and analysis process and reduce operating costs for your business. Contact us today for more information.