Microsoft officially retired its FRx reporting module in 2012. FRx was a software product used by small- to mid-sized organizations for financial reporting and analysis. The retirement of FRx lead some organizations to adopt Microsoft’s Management Reporter, while others held onto FRx, stalling the inevitable transition to a new report writer out of fear of what the transition would entail.
In a post-FRx world, existing FRx reports can still be run with conversion software, but new software also includes improvements and enhanced features. The transition to new software is a welcome one for many former-FRx users as the conversion from FRx makes old reports and data easy to access, while the enhancements to the new reporting software make the product more robust.
What should your team be looking for when choosing FRx conversion software?
- Is the interface user-friendly?
Arguably the most important feature of your conversion software, besides the fact that it converts properly, is that it is easy to use. We are creatures of habit, so learning a new software product to replace a retired product can be frustrating. Make sure the interface makes sense and is fully operable before purchasing.
- Is the software Excel-based?
Financial professionals have been using Excel for their entire careers, making it a comfortable, familiar, user-friendly choice. When choosing a conversion product, avoid products that use proprietary software that exports data to Excel and opt for software that uses a native Excel interface instead.
- Is the software cloud-based?
Cloud-based financial reporting software is the future. Cloud-based software is lower-cost, easier to maintain, and enables real-time, current data to be shared organization-wide. It is also more easily customized to fit your organization’s unique needs.
- Does the software provide mobile interfaces?
Software that provides mobile compatibility means that any device you work from can access the software you need, whether that be a PC, laptop, tablet, or mobile phone. Data is always at the tip of your fingers whether you are in the office or on the road. As busy professionals, options for accessing financial data is imperative.
- Are there enhanced features available?
Being able to convert your old FRx reports is vital, but many software conversion products on the market do more than just the bare minimum. Check to see if your chosen software conversion product can provide enhanced features or functionalities that FRx could not.
How FYIsoft can help your post-FRx organization
FYIsoft offers an FRx alternative that provides accurate, efficient conversion of your existing FRx reports to FYIsoft reports. ConvertFYI includes elements such as catalogs, rows, columns, trees, account sets, font styles, formulas, and more familiar features from FRx.
ConvertFYI’s intuitive and user-friendly interface offers a comfortable navigation environment with point-and-click features, drag-and-drop actions, and pull-down menus. FYIsoft solutions offer the same key FRx benefits that you have come to depend on, plus enhancements that will take your financial reporting to the next level.