Performance is Everything (Especially in Financial Reporting)

When it’s time to purchase a new vehicle, most of us would opt for the best performance that money could buy. We’d focus on things like speed, a smooth ride, efficiency, and superior safety features. Translate those performance factors into the world of finance, and we’ve just described FYIsoft’s financial reporting software. FYISOFT: BECAUSE PERFORMANCE IS EVERYTHING The powerful engine behind FYIsoft includes our component-based architecture, designed to make financial reporting fast, easy and accurate, whether you have 10 reports or 1000. Our software integrates with your existing GL to deliver all the reporting power needed, without the high cost of replacing your ERP or accounting system. Customers have reduced their reporting time by as much as 50% with features like: Speed: Create mass volumes of perfectly-formatted financial statements in seconds, and distribute them all with just one click. Ease: Extremely intuitive, reports are easy to set up and change without any coding or IT involvement needed Efficiency: Proven to save 10+ days with every close, not to mention the convenience of accessing web-based reports, 24/7 from any device. Security: Any authorized user can view their financial statements, and drill down to see transaction-level details including scanned invoices. But unlike Excel, data is protected and cannot be altered. FYIsoft offers a best-in-class solution, at a very attractive price point…one that delivers ROI within weeks. There’s no longer a reason to let the financial reporting process slow down your close cycle. Allow us to show you how easy it is to rev up your engines with FYIsoft! Take a Look Under Our Hood! Schedule a Demo

By |2019-05-23T09:23:01-04:00May 23rd, 2019|Financial Reporting|0 Comments

What is Meant By the Term “Financial Reporting” and Why Is It So Important?

Financial reporting is a buzzword in the accounting space, but what is meant by the term “financial reporting” and why is it so important? Financial reporting compiles all pertinent financial information for distribution to those outside of the company. Examples of financial reporting include: Financial statements including income statement, balance sheet, statement of comprehensive income, statement of cash flows, and statement of stockholders’ equity Quarterly and annual reports Quarterly earnings distributed via press releases, conference calls, or company website Quarterly and annual reports for governmental agencies such as the Securities and Exchange Commission (SEC) Accurate and timely financial reporting is incredibly important for businesses, not just for the purposes of making their own informed business decisions, but for their reputation in the industry and for the purposes of compliance. A good financial reporting solution should be fast, easy to use, and always accurate. Financial reporting software can integrate with your existing general ledger (GL), affording you powerful and modern reporting capabilities without the high cost of replacing your GL or ERP. A strong financial reporting solution can cut your financial reporting time by up to 50 percent, even in complex multi-entity or global currency environments. Faster, easier financial reporting matters for your business because you’ve worked hard to account for every number and transaction, and it should be easy to report on it. With the right reporting solution, you can improve productivity by generating, packaging, and distributing reports with precision and speed, even when consolidating data from different sources, locations, and currencies is involved. And, the ability to automate reports means that deadlines are never missed, and the reports are perfectly formatted for your needs--whether they are meant for the board or the SEC. What FYIsoft can do for your financial reporting needs With FYIsoft, you can supercharge your financial [...]

By |2019-04-30T12:19:00-04:00April 30th, 2019|Financial Reporting|0 Comments

Corporate Financial Reporting – Why Excel Spreadsheets Won’t Cut It

Accountants have been relying on Microsoft Excel since the 1980s, but in today’s day and age, the technology is no longer cutting it. When accurate and timely financial reports are needed, cloud accounting software is chief. Financial reporting distributes a company’s pertinent financial information to those outside of the company. Financial reports can include: Financial statements including income statement, balance sheet, statement of comprehensive income, statement of cash flows, and statement of stockholders’ equity Quarterly and annual reports Quarterly earnings distributed via press releases, conference calls, or company website Quarterly and annual reports for governmental agencies such as the Securities and Exchange Commission (SEC) Financial reports are important for a company’s reputation and compliance. Relying on a solution like Microsoft Excel to meet strict deadlines and provide the most accurate data is no longer the most viable option. Due to risk of manual errors and compromised data integrity, the manual processes used for Excel reporting can no longer get the job done in the fastest, most efficient way, especially where complex multi-entity situations are concerned. Finding a cloud-based financial reporting solution is more important than ever before. Cloud solutions can help your company: Reduce the risk of manual error Cloud solutions automate much of the accounting processes that were once manual with solutions like Microsoft Excel, thereby boosting your data integrity and minimizing the risk of error. Provide access 24/7 from any device with an internet connection Software was historically installed locally, so if you weren’t in the office, you couldn’t access the information you needed. Now you can always access your data and reporting with any device with an internet connection because cloud software is web-based. Save money Automating your processes means you can reduce your workforce, or bring outsourced services back in house by redirecting your staff’s attention. [...]

By |2019-04-23T15:56:01-04:00April 23rd, 2019|Financial Reporting|0 Comments

5 Ways the Latest Technology in Financial Reporting Can Benefit Your Company

Financial reporting is an important part of running a business in any niche or industry. However, if your company isn’t using the latest technology to generate its reports, you are missing out on several very important benefits that could propel your business forward. Here are some of the ways in which investing in newer, better, and faster financial reporting software can benefit your business. #1 – Generating Reports with Data from Multiple Sources Gone are the days of running individual reports for each entity associated with your business, then spending hours (or even days) attempting to consolidate that data for analysis. Your financial reporting software should have the ability to gather, process, and consolidate data from as many sources as necessary – even if those sources use different currencies. If it doesn’t, it is time to consider making a switch. #2 – Automating Report Distribution Financial reports are crucial across several of your company’s departments, so it’s vital that you distribute your reports on time. If your current software doesn’t automate the distribution aspect of your reporting, this is a benefit that can completely change the way you run your business. Imagine setting up distribution from a simple, easy-to-use dashboard in such a way that the exact reports you choose go out to the right people at the right times. The time savings is incredible. #3 – Boosting Productivity It’s also important to think about how your current software may be slowing down your company’s productivity behind the scenes. Antiquated software isn’t very precise, and it takes ages to generate even those reports in many cases. When you make the switch to the latest financial reporting software and technology, you can enjoy a serious speed boost, make sure your reports are more accurate, and boost your company’s productivity by up [...]

By |2019-04-17T12:34:37-04:00April 16th, 2019|Financial Reporting|0 Comments

Acquire a Company and Now You Need Financial Reporting From Multiple GLs?

Acquiring companies with different GLs or managing multi entity reporting needs can quickly become a nightmare scenario when the proper software solutions are not in place. Fortunately, FYIsoft has you covered with impressive financial consolidation software to sooth the burden of managing multiple GLs. New regulations and segmentation of revenue mean that spreadsheets alone may no longer be a viable solution when working with multiple GLs. Efficiency, accuracy, and immediate visibility are critical for internal and external financial reporting. FYIsoft’s financial software solutions enable simpler financial consolidation by reducing the time and resources it takes to gather and compare financial data from multiple sources. By automating critical accounting functionalities and minimizing manual processes, you can reduce errors and focus on value-added financial analysis. For multinational businesses, FYIsoft solutions enable quick translation of multi-company balances into the required reporting currencies. The solution enables currency conversion calculations that make it easier to evaluate consolidated financial statements in a single currency. Additionally, FYIsoft’s financial consolidation software: Integrates with any general ledger system (or Excel) to import and standardize data, and automate the creation of beautifully formatted, consolidated reports, and Translates multinational balances into a single currency (or multiple currencies, if desired) Why choose FYIsoft when managing multiple GLs? Choosing FYIsoft’s financial consolidation software is an easy choice. It’s a cloud-based solution, which means it’s secure, always current, and always accessible from any device with an internet connection. Its user-friendly and convenient interface makes even the most frustrating accounting work a breeze. With 8,500 users and counting, FYIsoft’s loyal customer base speaks for itself. With software that automates, simplifies, consolidates, and streamlines, it’s easy to see why it is increasingly preferred over on-premise software solutions. Contact FYIsoft for a demo today to see how this cloud-based solution can help you access financial reports from multiple GLs, [...]

By |2019-02-13T12:38:44-04:00May 15th, 2018|FYIsoft|Comments Off on Acquire a Company and Now You Need Financial Reporting From Multiple GLs?

Looking For NetSuite Financial Reporting? FYIsoft Has You Covered

If your organization uses NetSuite but is in need of advanced financial reporting features, FYIsoft has you covered. FYIsoft is fully integrated with NetSuite, ensuring you have access to the full spectrum of reports while not having to disrupt or change your core GL system. FYIsoft offers stronger financial reporting for NetSuite customers, including features that can save your organization up to 10+ days during each and every period close. 8,500 users choose FYIsoft. Should you? There are many reasons to choose FYIsoft’s cloud financial reporting software, and a full integration with NetSuite is just one. FYIsoft’s robust financial reporting features are ideal for companies with complex consolidation requirements and other unique reporting challenges that accompany organizations with multiple entities, high growth, or global reach. FYIsoft’s superior NetSuite financial reporting capabilities include: Simpler consolidated reports for multiple levels, locations, entities, and currencies Easy, flexible report structure that requires no programming skills or IT resources Advanced, automated report distribution that is accessible through any device with an internet connection--24/7 Superior, interactive drill-down capabilities Board-ready reports with customizable formatting Built-in audit features to help your organization remain compliant FYIsoft can also accelerate NetSuite customers’ financial close. FYIsoft customers save days-- often 10+ days. And because FYIsoft is already fully integrated with NetSuite, NetSuite customers can be up and running within hours. Take advantage of the FYIsoft/NetSuite integration today FYIsoft offers customers reliable benefits, including a faster period close, easier report generation, efficient report distribution, mobile access, enhanced data integrity, and ROI within weeks. Request a demo today and learn how FYIsoft can cut 10+ days off your next period close. A financial reporting expert will show you how FYIsoft’s integration with NetSuite makes it easy to dramatically improve your financial reporting capabilities, without replacing your ERP.

By |2019-02-13T12:45:19-04:00May 11th, 2018|FYIsoft|Comments Off on Looking For NetSuite Financial Reporting? FYIsoft Has You Covered

How Cloud Financial Reporting Is Not Just the Future But the Now of Accounting

Cloud software is taking business by storm, and while many accounting professionals consider cloud-based solutions to be the future of accounting, experts advise that cloud accounting solutions are not just the future--they’re the now. Download our 4 Powerful Reason to Move to the Cloud It may feel risky to switch over to a cloud-based solution after years of using traditional software that is installed locally. However, there are many benefits of making such a switch, and by not embracing the technology shift now, organizations are at risk of having their processes considered outdated and archaic. There are many reasons to embrace cloud technology now, such as: Cloud-based solutions make data accessible anywhere with an internet connection. Any user with a device with an internet connection can access the cloud through their web browser; there is no need to install the software locally. The data is stored on remote servers, making accessibility even easier for the team players that regularly access this data. Cloud-based solutions house data that is always current and up-to-date. Another excellent feature of cloud accounting solutions is that updates take place in real time. When a user accesses financial data through the cloud, all information presented is the most current and up-to-date, and all users have access to the same numbers. This eliminates the need for redundant reporting and also minimizes risk of error. Cloud-based solutions help manage business and client relations. Business relationships are important, and the ability to search and find account information at a moment’s notice certainly helps to maintain those relationships. Cloud-based solutions save time and allow accounting professionals to focus their efforts where it’s needed most. Cloud accounting solutions help companies save time. Data is more accurate, reporting is quicker and easier, and accounting professionals’ time is freed up for more strategic [...]

By |2019-02-13T12:58:59-04:00March 19th, 2018|FYIsoft|Comments Off on How Cloud Financial Reporting Is Not Just the Future But the Now of Accounting

How Cloud Accounting Can Help With Client Communication

There are an exceptional amount of benefits to adopting cloud-based accounting software for your organization, one of which being that cloud accounting vastly improves communication—both internally and externally—for your business. Download our 4 Powerful Reason to Move to the Cloud Benefits to Cloud Financial Reporting Cloud accounting can help with client communication first and foremost by making financial reporting easier, quicker, and more accurate. FYIsoft enables not only fast, accurate and actionable financial reporting, but also the ability to remain proactive and competitive amidst changing business, market and regulatory demands. Enhanced reporting capabilities empower you to generate, package, and distribute reports faster, allowing additional time for review and analysis. It also increases the relevance and value of your financial reports. Staff are enabled to gain insight needed to run the business more efficiently, and users are also enabled to drill down into transaction details and perform their own analysis. How does it help communication? Cloud accounting also helps with client communication by offering secure, 24/7 access to data, from anywhere with an internet connection. This includes secure financial report distribution that saves your team hours, days, weeks—even months. Users can access and analyze reports 24/7 but cannot change the data, protecting the integrity of your financials. Distribution lists are easy to setup and maintain, speeding the process to distribute based on any number of parameters such as permissions, departments, locations. Additionally, interactive cloud reports can be delivered via URL link, enabling users to drill down and see transaction details. Lastly, cloud accounting offers flexibility to slice and dice reports fitting your unique needs. Cloud software can also be considered a gateway to other new and improved technology, and embracing new technology can help you keep in touch with clients. Accountex Report suggests keeping in touch with clients through text message [...]

By |2019-02-13T13:01:24-04:00February 28th, 2018|FYIsoft|Comments Off on How Cloud Accounting Can Help With Client Communication

FYIsoft Now Offers Sage Financial Reporting

FYIsoft has good news for Sage users. If you’re using an on-premise version of Sage, chances are your financial reporting capabilities fall short of what your growing organization needs. But, FYIsoft’s integration with Sage brings you all the benefits of the leading cloud financial reporting system without replacing your ERP. FRx report replacement Many Sage users continue to struggle with their now-unsupported FRx report writer. FYIsoft offers the ideal FRx report replacement solution with an easy, intuitive structure that is similar to FRx so there’s virtually no learning curve. Benefits of FYIsoft software FYIsoft offers all the benefits of cloud financial reporting, such as: Faster Period Close Our customers cut up to 10+ days off their period close processes – time they can now spend on more value-added activities. Easier Report Generation Our component-based cloud architecture simplifies consolidations, even for complex multi-company entities. Efficient Report Distribution Secure, web-based distribution process ensures you get the right data to the right people, whenever they need it. Mobile Access Access to financial reports 24/7, through any device, ensures you’re always ready with accurate, reliable data. Data Integrity With our cloud reports, users can drill down and analyze their own expenses – without the ability to change the data. ROI Within Weeks A low total cost of ownership, combined with increases in productivity, will deliver ROI in as little as eight weeks. Take advantage of FYIsoft’s Sage integration Learn how FYIsoft has helped our customers easily convert thousands of reports in a matter of minutes. Request a demo and see how easy it is to significantly improve your financial reporting with FYIsoft. Submit the form and an FYIsoft financial reporting expert will show you how the integration with Sage makes it easy to dramatically improve your financial reporting capabilities, without replacing your ERP. What [...]

By |2019-02-13T13:02:19-04:00February 20th, 2018|FYIsoft|Comments Off on FYIsoft Now Offers Sage Financial Reporting

How Our Cloud Financial Reporting Software Streamlines Just About Everything

Cloud financial reporting software from FYIsoft streamlines just about everything in the accounting and reporting process. 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. This is where FYIsoft succeeds: 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. Multiple GL systems – FYIsoft standardizes data so you can integrate with as many GL systems as needed, saving weeks if not months of time. Currency conversions – For multi-national companies, FYIsoft automates currency conversions, greatly simplifying the consolidation of global financials. Multiple entities (companies, branches, divisions, franchises) – Companies that generate 100+ reports every month find huge relief with FYIsoft. Our software can slice and dice any distributions needed, giving you confidence that you’re delivering the right data to the right people. Benefits Below are just a few of the many ways FYIsoft’s cloud financial reporting software streamlines business processes: Faster Period Close FYIsoft customers cut 2-5 days off their period close processes  – time they can now spend on more value-added activities. Easier Report Generation FYIsoft’s component-based cloud architecture simplifies consolidations, even for complex multi-company entities. Efficient Report Distribution Secure, web-based distribution process ensures you get the right data to the right people, whenever they need it. Mobile Access Access to financial reports 24/7, through any device, ensures you’re always ready with accurate, reliable data. Data Integrity With FYIsoft’s cloud reports, users can drill down and analyze their own expenses – without the ability to change the data. [...]

By |2019-02-13T13:07:33-04:00January 26th, 2018|FYIsoft|Comments Off on How Our Cloud Financial Reporting Software Streamlines Just About Everything