Posts tagged with "accounting"

Accounting AI

How Artificial Intelligence (AI) is Shaping the Accounting Industry

According to a study by Oxford University and Deloitte in 2015, accountants will be among the first professions affected by the rise of artificial intelligence (AI). Up to 95 percent of accountants will face some threat due to the advanced automation capabilities provided by AI.

While this is categorized initially as a “threat,” it also opens the door to a new kind of accountant. The modern accountant does much more than crunch numbers. In fact, in the future, AI might do most of the number-crunching. Instead, accountants are moving toward a model of value-added opportunities to offer clients, such as strategy and advisory services.

Robots as partners

Not all human functions can be replicated by robots. Much of the high-volume work can, in fact, be done quickly and accurately by use of a bot. However, a bot cannot be taught judgment or analysis. For these reasons, Sonia Eland of DXC Technology suggests we not perceive bots as a threat, but instead, as a partner. The help of AI can assist humans in doing their jobs more accurately and more efficiently.

Embracing new roles

While the role of the modern accountant is evolving, the time for hesitation is slim. The accountants that will thrive under this new model are the progressive thinkers who are jumping in and finding new ways of being marketable and valuable in a changing workplace.

Accounting professionals who embrace this change to advance their individual skills are on track to continue providing value to a profession and an industry that is changing. By freeing up time, accountants can even learn to code. In all, robotic process automation (RPA) is expected to free up the creativity and intellect of accounting professionals.

Flexi and the future

Flexi takes advantage of automation to make the lives of accountants easier.

Flexi delivers all the rich features you’d expect in a top tier accounting solution, but without the high cost. With quick implementation that can be deployed on-premises, in the cloud or in a hybrid environment, Flexi will not only simplify your accounting processes today but also will have you ready to adapt quickly to market or business changes in your future.

Seamlessly integrate Flexi software to your core system to ensure that financial statements are accurate, consolidations are error-free, and efficient processes are in place. Make sure your business retains visibility and transparency with expenses.

AI in Accounting

If you’re interested in learning more about AI in accounting download our whitepaper today!

Key takeaways include:

  • What exactly is AI in accounting and when will it go mainstream?
  • Use case example and how AI addresses the startling statistic that only 25% of accountants are confident in the accuracy of their last close
  • How AI will impact accounting careers, and which jobs will be most needed

Learn more about Flexi accounting software solutions, or call 800-353-9492 to set up a demo today.


Category: Blog

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Corporate Accounting

Benefits of Using Flexi for Your Corporate Accounting Needs

There are multiple benefits to using Flexi’s cloud-based financial management software solutions for your corporate accounting needs.

Through Flexi’s secure, enterprise platform, the entire accounting workflow process is automated and ROI is delivered in months—not years. As a result, your finance team can spend far less time on the close, consolidation, and reporting processes, and more time being strategic and proactive.

Flexi’s Finance and Accounting Software Benefits for Corporate Accounting Needs

1. Continuous Close Capability

Flexi gives you the ability to conduct preliminary ‘soft close’ periods at any time, while the system continues to account for financial transactions in the meantime. You’ll have plenty of time to review and adjust financials in preparation for your hard close deadlines, with complete confidence in the accuracy of your reports.

2. Automated, Workflow-Driven Processes

Flexi’s powerful workflow engine mirrors your accounting processes electronically. Based on your business rules, tasks can be automated—saving time and removing the risk of costly mistakes. You remain in control with a complete archive—all available 24/7 from anywhere, through any device.

3. Multi-Entity Financial Management

Consolidating multiple general ledgers, company/franchise financial statements, and/or multiple currencies can easily consume days or weeks of time. Flexi simplifies even the most complex accounting environments and easily converts all of this disparate data into standardized, board-ready reports almost instantaneously.

4. Real-Time Visibility

View, analyze and report real-time financial data, ensuring business decisions are always based on accurate, timely data. With Flexi, you’ll have everything you need at your fingertips to visualize your financial position and make real-time business decisions.

5. Complete Audit Trail and Compliance Documentation

Flexi provides immediate access to all details behind a transaction. Because each accounting module is part of the same system (including our general ledger), you can easily drill down into all transactions and trace all the way back to the original journal entries, including a visual map of the workflow and approvals.

6. Streamlined Reporting with our Cloud Financial Report Writer

Flexi’s proprietary cloud financial reporting software will make you look good every time. Easily generate perfectly formatted reports and distribute the right data to the right people – even for complex multi-national companies. Reports can be shared in Excel or web-based format and accessed anytime, through any device.

The bottom line

Flexi’s comprehensive financial management software simplifies and automates the entire accounting workflow process without compromising security. Open architecture meets even the most stringent security requirements yet allows data to flow seamlessly with any system.

Flexi delivers all the rich features you’d expect in a top tier accounting solution, but without the high cost. With quick implementation that can be deployed on-premises, in the cloud or in a hybrid environment, Flexi will not only simplify your accounting processes today, but also will have you ready to adapt quickly to market or business changes in your future.

Learn more about Flexi insurance accounting software solutions, or call 800-353-9492 to set up a demo today.

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Accounting Reporting Capabilities Accounting Reporting Capabilities are Industry Leading – Here’s Why

Flexi prides itself on being an industry leader. With 25 years of experience, Flexi is your accounting software partner from implementation to go-live, providing continuous, high-quality support.

Flexi offers cloud-based software for financial reporting and consolidation. Whether it is consolidated financial statements or graphical dashboards, Flexi’s management tools enable your organization to make informed decisions, elevating your business to the next level.

Flexi solutions are installed at over 800 locations worldwide, with a long and successful track record with businesses in all industries, even the most complex accounting environments. Flexi has helped businesses in the industries of financial services, banking and credit unions, insurance, healthcare, travel and hospitality, retail and wholesale, logistics, and more.

Industry leading software

Flexi software has certainly been implemented in a variety of industries, but there must be a reason. What makes Flexi’s accounting reporting capabilities so industry-leading?

For starters, the various products that Flexi produces help your business make better financial decisions with confidence. Just a small snapshot of the product offerings Flexi has include general ledger, consulting services, accounts payable, accounts receivable, purchasing, electronic invoicing, and business analysis—plus many more.

All of the data that is captured by your systems can be translated into meaningful, easy-to-understand information. The reporting tool derives data directly from your financial management system, providing confidence that your data is accurate and current.

Additionally, Flexi products help your team:

  • Gain Efficiency – Flexi solutions allow you to streamline the accounts payable process by reducing time-consuming, error-prone manual processes, and converting them into electronic “touch-it-once” automated events.
  • Empower Management with Information – Flexi solutions securely distribute reports to management, providing the specific data needed to effectively and efficiently run their departments.
  • Analyze Your Business – Flexi provides clean data to analyze, allowing your team to view business performance by business line, geography, and account.
  • Identify Trends – Flexi enables you to identify past trends that showed success and to recognize areas of improvement in your business.

The bottom line

Flexi is an industry leader for a reason. With expertise in all aspects of accounting and 25 years experience, the Flexi team can offer the best of the best. Even better, Flexi offers cloud-based web services that not only streamline processes, but also make data accessible 24/7 from any device with an internet connection.

Learn more about Flexi’s accounting reporting capabilities and see how Flexi can partner with your business today.

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Why White Label Accounting Software has the Right Applications for All Accounting Tasks

In addition to a direct sales effort, Flexi white labels its solutions with companies such as Allscripts, StoneRiver (formerly Fiserv), MajescoMastek, and Molina Healthcare (formerly a division of Unisys). white label accounting software has the right applications for all accounting tasks.


To learn more about our white label program click here.


Benefits of white label accounting software

A “white label” solution is a fully supported product or service that is created by one company but sold without branding, allowing the purchasing company to brand it as their own and resell the product.

Opting for a white label solution means that your company doesn’t need to reinvent the wheel to provide an excellent accounting solution. This results in no time or money wasted producing the best software solution when one is already on the market, ready to be branded as your own. This way, the reseller can customize the product with their own branding, allowing customers to associate the product with the reseller.

White label accounting software from Flexi

White label accounting software from Flexi is quick and easy to brand. As a reseller, you will not need to focus on spending time or money on development. You can simply slap on your logo and the solution is already fully integrated.

Developing a solution from scratch takes time and money, and if you’re under the gun, you might be tempted to cut corners—leading to a poor customer experience when using the product. Rather than taking the time to design, build, and test the solution, opt for Flexi white label accounting software. Flexi takes the guesswork out of the equation.

Lastly, prepackaged solutions provide assurance that you are relying on experts in the field. Don’t stretch your resources reaching for the stars when white label software is ready made.

The bottom line

Flexi has years of experience in the accounting software space and has employed a team of experts to make the most flexible, cost-effective, efficient accounting software on the market. Flexi software allows you to manage your accounts anywhere, anytime, from any device. And, Flexi’s cloud-based management reporting and financial analysis software helps you assess your business performance.

Let Flexi’s 25 years of experience speak for itself. There is a reason why Flexi solutions are installed at more than 800 locations worldwide. Flexi has a long and successful track record that businesses in all industries can count on for their accounting need—even the most complex environments.

Contact Flexi about white label accounting software options today.

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