If you are exploring financial reporting and FP&A solutions, you are probably familiar with the growing popularity of the phrase, “multiple GL consolidation.”
It’s true that many FP&A software providers can integrate with multiple GL systems. The integration is the easy part – the data is simply pulled from the GL system into their software. The data may be in one place, but the accounting team still has no easy way to map the differing accounts and simplify reporting.
Without FYIsoft’s technology, the process of financial data consolidation is time consuming, manually intensive, and risky for both accounting and IT.
The FYIsoft Difference: True Automation
FYIsoft’s technology not only integrates and extracts the financial data from any number of sources, but also automatically converts it all into a standardized reporting format, eliminating the need for manual workarounds or IT involvement every month – all without errors.
Below are some of the powerful automation features found with FYIsoft’s suite of financial reporting and FP&A solutions:
- Automated consolidation of different general ledgers with differing charts of accounts
- Automated consolidation of multiple entities
- Automated distribution of unlimited financial statements and report packages
- Global currency conversions for standardized reporting
- Automated transfer of actual financial data between reporting, analytics, and budgeting solutions
- Ability to drill down to view transaction-level details from ANY GL system
- Instant adjustments for reorganizations and restructuring, with drag-and-drop ease
The FYIsoft way is highly automated, resulting in a faster, easier, and more accurate financial close.
Schedule a demo and see how the FYIsoft difference can bring tremendous efficiencies to your team.