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 tha