Is Technology Waiting for the Accounting Industry Mindset to Catch Up?

It’s no secret that the accounting industry hasn’t been the most innovative or the quickest to embrace technology. External barriers are as responsible for this as the industry mindset. While automation and AI are spreading like wildfire in other industries, accountants have been tentative and hesitant about what automation could mean for the future of the industry–and their job security–but additionally, a lack of schooling and training opportunities have left accountants scrambling to keep up.

Cloud Software Solutions

Cloud software solutions have emerged with promises of easing the burden of manual errors caused by spreadsheet accounting. New technology comes with a learning curve and as automation eliminates many of the manual processes accountants are accustomed to, it requires in some cases continuing education to remain relevant in the industry. 

New and innovation technology is yielding a seachange in the industry: there is now an expectation that accountants will not only be skilled and knowledgeable in bookkeeping but will emphasize strategy and advisory services. Accountants are also increasingly expected to specialize in and consult on various software options for their clients. 

The industry has seen an overhaul and though accounting positions are growing in number, there are fewer and fewer in the field that hold these newly minted qualifications. The academic world has not yet kept up, which is a big reason why so few accountants have embraced they new technology: they simply haven’t been trained on it.

Flexi can get you up to speed

Over 25 years ago, the team behind Flexi Software believed that the promise of accounting automation shouldn’t be reserved for Fortune 500 enterprises. Flexi set out to create a world-class platform that would not only offer the robust functionality found in costly Tier One ERP solutions but also offered the things that mattered most in a rapidly changing accounting environment:

  • Real-time performance and the ability to securely handle millions of transactions in real-time
  • Flexibility to grow and adapt to changing business or market needs
  • Openness that would allow easy integration with any system
  • Process-driven design that leveraged technology to automate much of the accounting cycle

That vision remains strong today and Flexi continues its laser focus on developing feature-rich accounting software that is both relevant and a smart value. As a SOC 2 Type I certified provider, Flexi is dedicated to empowering accountants to work as efficiently and securely as possible – today and tomorrow.

Submit your information and get a demo of the Flexi suite today. 


Cloud Accounting Set to Experience Highest Growth in Coming Years

Cloud accounting has experienced rapid growth in recent years, with the height of the growth still to come, according to the Cloud Accounting Software Market research report by Market Study Report, LLC. 

The report analyzes pivotal insights regarding market size, competitive spectrum, contender share, consumption trends, and geographical outlook. The report also explores key drivers and challenges, as well as strategies adopted by distinguished players in the industry. 

The report foresees cloud accounting software market growth for an estimated period, as well as delivers in-depth analysis on the industry, including market tendencies, deliverables, market share, current valuation, market size, and profit approximations during that timeline.

Key components of the report include: turnover predictions, recent market trends, industry drivers, key challenges, consumption growth rate, competitive framework, competitive ranking analysis, market concentration rate analysis, market concentration ratio, geographical dissection, latent market competitors, and value growth rate. 

This report puts data and analysis around a widely accepted notion: the cloud is the future. With user-friendly interfaces, automation, ease of access, and high security measures, it’s evident that cloud-based accounting solutions can offer more, and faster, than traditional, locally installed solutions. 

Still, many finance teams are wary, opting for more conservative measures than a cloud-based solution, citing potential security breaches and challenges integrating with an existing general ledger. Even still, the Cloud Accounting Software Market research report points to one truth: the cloud software market is all but slowing down.

Request a sample of the report to dive deeper, and explore similar reports, too.

Flexi can help when you’re ready to make the switch

Making an investment in a new software is a nerve wracking, albeit necessary, step. Flexi draws upon 25+ years to deliver all the benefits of the cloud without compromising security or performance.

Trusted by enterprises for 25+ years, Flexi is among the most experienced accounting software providers in both the cloud and on-premise markets. Organizations of all sizes, particularly those with complex accounting requirements such as multi-entity and intercompany accounting needs, are benefiting from Flexi’s value: rich features, flexible deployment, easily customized, low maintenance, and highly rated support, all at an attractive total cost of ownership. 

Submit your information and get a demo of the Flexi suite today. 

Cloud Accounting Statistics You Need to Know

Cloud accounting software is making big waves in the accounting sphere. Cloud software is not only cost-effective and highly accessible, but it’s making data as accessible as ever.

Cloud software can be accessed from any device with an internet connection, at any time of day, by any user. Gone are the days of installing costly hardware that make data vulnerable to hackers, and gone are the days of heavily leaning on IT and infrastructure to get the job done.

With cloud software, many tasks can be automated, which not only saves time but also ensures data integrity and accuracy. And, while many people feel their data is less secure in the cloud than stored locally on their machines, encryption and tight security measures actually make the cloud more secure in many ways.

For these reasons and more, cloud accounting is the future. It’s easy to use, easy to implement and ensures that the reports you need are easy to create, access, and distribute.

Statistics you need to know if you’re considering the switch to cloud accounting software

Don’t take it from us: let the statistics paint the picture. New research shows that 67 percent of accountants prefer cloud accounting over locally installed software options and cloud software reduces labor costs by up to 50 percent. And, the market is growing. The market size is projected to reach $4.25 billion by 2023, from its current $2.62 billion.

Additionally, 58 percent of large companies are utilizing cloud accounting services, and by 2020, it is projected that 78 percent of small businesses will be relying solely on cloud technology. Companies that use cloud accounting exclusively are adding five times the clients than companies who do not, and on top of that, companies that exclusively use cloud accounting also saw a 15 percent revenue growth year over year.

Get on the cloud with Flexi

It’s easy to move to the cloud.

Trusted by enterprises for 25+ years, Flexi is among the most experienced accounting software providers in both the cloud and on-premise markets. Organizations of all sizes, particularly those with complex accounting requirements such as multi-entity and intercompany accounting needs, are benefiting from Flexi’s value: rich features, flexible deployment, easily customized, low maintenance and highly rated support, all at an attractive total cost of ownership.

Learn more about how Flexi can catapult your business today with its cloud-based services. Call 800-353-9492.

When Artificial Intelligence and Accounting Collide

Fear is circulating in the accounting industry that humans (or accountants) will soon be replaced by artificial intelligence. But it is becoming increasingly clear that robots won’t cut it alone in the accounting sphere–while helpful, automation is best served with equal parts human intelligence.

With the rise of automation and cloud-based services, many traditional accounting tasks have been automated–this is true. Machines will always be better and faster at crunching numbers, but the benefit to accounting professionals is that this ensures more data accuracy than ever before–and offers time back on the calendars of busy accountants, freeing them up to analyze, strategize, and advise.

According to, accountants are increasingly expected to serve as strategic advisors to their clients. Small businesses are becoming more and more frustrated, according to a Seed survey last year, that their banks aren’t providing the advisory services they feel they need, and that role is now being placed squarely on the accountant.

Embracing the cloud

While fear circulates about automation as the death of the modern accountant, many accountants are embracing the change and viewing it as a tool for forging deeper connections. While the role of the accountant is rapidly changing, the industry continues to dictate needs that cannot be satisfied by computers alone, thereby elevating the accountant’s role and situating accountants as leaders of strategy and advisory services.

Flexi as an automated partner in business

Flexi solutions will make your organization’s accounting processes run smoother. Among the many perks, Flexi enables your business to close the books faster, automate accounting processes, simplify multi-entity accounting, gain real-time visibility, simplify audit and compliance, and streamline financial reporting.

Accounting is on a fast track toward artificial intelligence. No matter where you are on that timeline, Flexi is a trusted partner dedicated to helping you safely transition into this new era. Flexi’s flexible accounting software is designed to grow with you–however your business needs dictate. Here are some of the highlights of the approaching paradigm:

  • No paper, and no manual errors
  • Real-time financial updates–whenever and wherever needed
  • Continuous control
  • Standardized workflow with built-in approvals
  • Mobile access to financials through any device
  • Visualization tools with real-time visibility of every transaction and complete audit trail

Flexi can enable and empower your accounting team to provide added value to clients with the time they gain back from these tools’ ease of use.

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

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.