FYIsoft, a provider of cloud financial reporting solutions, announces a strategic partnership with Algorithm, a technology services company dedicated to helping businesses improve business processes and maximize the value of their ERP investments in Macola and Acumatica. The partnership will initially focus on bringing more modern, powerful financial reporting capabilities to Macola users.
“FYIsoft provides the ideal solution we’ve been looking for to meet the growing need for stronger reporting capabilities among Macola users,” said Michael Oswalt, CEO of Algorithm. “We are very pleased to partner with FYIsoft to offer a faster controlled solution that will make users’ lives better.”
Like many report writers in the market, Macola’s offering is an Excel-based reporting solution that adequately serves small companies that don’t have multiple reporting units to accommodate. But for companies with more complex reporting needs, such as consolidating multiple entities, divisions or products, or preparing financial statements for auditors and SEC filings, Excel-based reporting can be a tedious, manual process that poses significant risks. Key advantages of FYIsoft’s reporting solution include:
- Easier Multi-Entity Consolidations: Once reports are set up, an infinite number of report consolidations can be completed with the click of a button.
- Speed: With FYIsoft, the reporting process can be completed within minutes, saving up to weeks of time during the financial close process.
- Distribution: FYIsoft’s report distributions are automated to deliver the right reports to the right people – all perfectly formatted straight out of the system.
“We are excited to welcome Algorithm into our strategic partner network, and the new opportunities that our Macola integration will bring to our joint customer base,” said FYIsoft President, Jennie Cheng. “Our focus is on making it easy for companies to add more sophisticated financial reporting capabilities to their existing ERP systems, so that they can gain tremendous efficiencies without the costs or burdens of replacing their entire ERP. Algorithm shares our vision and our commitment to meet this growing need in the marketplace.”