Posts tagged with "financial close"

Changing Financial Process

Why Changing your Financial Reporting Process Now is Crucial Before the New Year

We all like a fresh start with the new year rolls around on January 1. There’s no better than time than now to prepare your business for a brighter future. Set your business up for success now by revamping your financial reporting process so the big changes you’re looking to achieve are possible in 2019.

Why change your financial reporting process now?


Financial reports provide the data and insight from which all business decisions are made. For today’s finance teams, it is critical that these reports be accurate, easy to produce, and board-ready at a moment’s notice.

The report applications found in more ERP systems don’t cut it for today’s complex accounting needs. That is why partnering with a cloud-based solution provider is the first order of business to revamp your financial reporting process. A cloud-based solution that is specifically designed to integrate with your existing GL system and dramatically improve reporting processes makes it easy to improve upon your existing processes.

Still using FRx?


Microsoft retired its outdated FRx reporting solution over five years ago. If you’re of the many still using this outdated and retired solution, once FRx crashes, it’s too late. Don’t risk another financial close relying on unsupported legacy software.

Plan ahead

If you want to make a change to your 2019 financial reports, waiting until the last week of December is not the way to do it. If new software is what you’re after, start researching and building a case for it now. If process improvements are your plan, setting them in motion now will only help you as the new year draws closer.

How FYIsoft can help

A cloud-based solution like FYIsoft can help you meet your financial reporting goals for the new year.

For one, FYIsoft offers a FRx report conversion. With a familiar architecture that’s similar to FRx, FYIsoft’s cloud financial reporting software easily converts your FRx reports at the database level so the conversion process is accurate and consistent.

Furthermore, FYIsoft focuses on one thing: developing the best financial reporting software available without compromising the security of your core financial data.

The benefits include:

  • Faster period close can save up to five days, allowing more time for analysis
  • Easier consolidations, even for complex multi-company entities
  • Streamlined, accurate report distributions – automatically formatted every time
  • Secure, 24/7 access to transactional data, from anywhere, anytime

Start the new year off on the right foot. Contact FYIsoft today to learn more about how FYIsoft can help your business achieve its goals.

Stressed Out Accountant

Are You Missing Life Events Due to Stressful Financial Closes?

Accountants know that financial closes are stressful and time consuming as is, but with added pressure from the executive team, the financial close can become a hellish landscape.

The majority of accountants must trade in vacation or family time during financial close time, missing important life moments like family weddings, little leagues games, dance recitals, and more.

You don’t have to be one of them.

Stop missing life events and regain a work/life balance

FYIsoft has helped its customers get their lives back. One is quoted as saying: “We have locations in many states. If we did not have FYIsoft, life would be miserable.”

With FYIsoft’s cloud-based accounting software, you’ll get:

  • Easy multi-company or multi-location consolidations
  • Simple report setup with an intuitive ‘building block’ approach
  • Perfectly formatted, board-ready reports
  • Automated report distribution, guaranteed to get the right data to the right people with just a click of a button
  • Powerful drilldown capability so users can analyze their statements and answer their own questions
  • Built-in multi-currency conversions
  • Anywhere/anytime access so reports can be shared and viewed on-demand

Nearly 90% of finance professionals work overtime during financial close–and much of this time is spent scrubbing data, running reports, formatting reports, and then manually distributing them via email.

FYIsoft knows that these processes can be taken care of through the click of a button.

Much of the reporting process can be automated, and secure, 24/7 access via any device with an internet connection means that executives can run the reports locally. The data any user accesses will always be the most current, and security permissions and parameters can be set to protect the integrity of your data.

FYIsoft customers boast of financial closes that consistently save 10+ days–putting time back on customers’ calendars. Now you have time to manage new responsibilities in your role, as well as participate in your personal life again to maintain a stronger work/life balance than accountants ever thought possible.

FYIsoft can help

Accountants are expected to produce accurate reports at a moment’s notice, and those reports can involve multiple entities, general ledger systems, account codes, locations, and currencies. It can be painful. But at FYIsoft, financial reporting software is the focus. With a simple integration into your GL, FYIsoft is a powerful add-on that delivers faster, easier, and more accurate financial reporting–giving you time back and lightening your mood to boot.

Request a demo today and learn how FYIsoft can help you regain control of your life, both at work and at home.

Small Business Cloud Accounting

Looking For a Faster Financial Close? How Does An Extra 10 Days Sound?

Accountants and finance professionals can unanimously agree that a faster financial close is the ultimate goal. And with FYIsoft, businesses consistently report saving 10+ days with their financial close.

Rather than running reports, formatting reports, and manually distributing them through email, FYIsoft automates much of the financial close process, freeing up time to analyze, strategize, and implement best practices to impress and maintain your clientbase.

What is FYIsoft

Founded in 2012, FYIsoft is focused on simplifying even the most complex financial environments with innovative software designed to enable fast, accurate, perfectly formatted financial reports–accessible 24/7 wherever, whenever business needs dictate.

With over 8,500 finance professionals around the world relying on FYIsoft’s cloud financial reporting software, the company is quickly emerging as a leading force in the Financial Corporate Performance Management (FCPM) space.

FYIsoft’s solutions can be deployed directly or through strategic partners and include an innovative financial report writer, a flexible general ledger integration tool, and a currency translation module for multi-national companies.

The talented team behind FYIsoft has decades of experience in areas including enterprise resource planning, finance and accounting, and information technology.

FYIsoft software and the cloud

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.

Cloud-based systems like FYIsoft introduce automation, user-friendly interfaces, and impressive tools–making modern accounting faster than ever; perfect for the tight deadlines your executive team imposes.

FYIsoft for a faster financial close

With FYIsoft, your business gets:

  • Easy multi-company or multi-location consolidations
  • Simple report setup with an intuitive ‘building block’ approach
  • Perfectly formatted, board-ready reports
  • Automated report distribution, guaranteed to get the right data to the right people with just a click of a button
  • Powerful drilldown capability so users can analyze their statements and answer their own questions
  • Built-in multi-currency conversions
  • Anywhere/anytime access so reports can be shared and viewed on-demand

Request a demo today and learn how FYIsoft can cut 10+ days off your next period close.