Organic growth, acquisitions, capital expenditures, and new investments can cause you to quickly outgrow a simplistic, Excel-based financial reporting solution. Excel has its limitations, and your growing business needs a solution that is automated, feature-rich, reliable, and accurate.
Excel can be suitable for the simplified accounting needs of small businesses, but most companies need a solution that does more. Your financial reporting solution should be able to tackle:
- Multiple GL systems: Standardize data so you can integrate with as many GL systems as you need, saving weeks or even months of time.
- Currency conversions: The ability to automate currency conversions is a must-have for multinational corporations to greatly simplify the consolidation of global financials.
- Multiple entities: Companies that generate 100+ reports every month require software that can slice and dice any distributions needed to deliver the right data to the right people.
Cloud-based financial reporting solutions are much more adaptable to the changing accounting landscape that your business is working within. Your business requires a solution that can navigate the various regulatory and compliance concerns of the finance world, and you should be able to count on the accuracy and integrity of your data.
The best solution will encourage:
- Faster period close: By cutting even 2-5 days off your period close process, you have time left on the calendar for other tasks to better serve your business.
- Easier report generation: Component-based cloud architecture can simplify consolidations for even the most complex entities.
- Efficient report distribution: Secure, automated distribution processes ensure you get the right data to the right people.
- Mobile access: Access to reports 24/7 from any device with an internet connection ensures you’re always ready with accurate, reliable data.
- Data integrity: To keep data accurate, users can drill down and analyze their own expenses without the ability to make changes.
- ROI within weeks: A low total cost of ownership combined with increases in productivity will deliver ROI in as little as eight weeks.
FYIsoft produces solutions that adapt to change
FYIsoft ensures that all impacted reports are updated automatically, saving you and your staff countless hours. FYIsoft is a powerful financial reporting solution that helps customers reduce their reporting time up to 50%.
Financial reports provide the data and insight from which all business decisions are made. For today’s finance teams, it is crucial that those reports be accurate, easy to produce, and board-ready at a moment’s notice.
The report applications found in most ERP systems just don’t cut it. That is FYIsoft’s focus.
FYIsoft is committed to delivering the best available cloud financial reporting software, specifically designed to integrate with your GL system and dramatically improve reporting processes, even in the most complex financial environments.
Contact FYIsoft today to learn more.