Posts tagged with "financial management software"

Enterprise Financial Management Software

The 5 Most Important Features to Look for in Financial Management Software

Companies across numerous industries – healthcare, banking, investment, and others – rely heavily on their financial management software to streamline their operations. With so many options from which to choose, it can be difficult to know which software is right for your company. Below, you can learn more about the five most important features of the best financial management software platforms. 

#1 – Cloud-Based Technology

Of all the features that you should look for in your financial management software, this is one of the most important. Cloud-based platforms are critical because they allow for collaboration across departments, they make it easy for individuals to access information from anywhere, and they make it simple to deploy software anywhere it is needed – even on the go. It ensures that everyone has access to the exact same data at the same time, too, which goes a long way toward preventing misunderstandings and the mistakes that can arise from them. 

#2 – Workflow Automation

Your financial management software should be able to carry out many of your accounting processes automatically, as well. This saves you and your finance team a great deal of time and effort by reducing the number of repetitive tasks. What’s more, when you can automate based on your own rules, it also reduces the likelihood of mistakes that can lead to serious issues. 

#3 – Ledger Consolidation

If your company consists of several branches, locations, or franchises, then it’s important to choose a platform that makes it easy to manage your finances across all entities with ease. In fact, look for an option that allows you to simplify these complexities and create reports based on any data you choose almost instantly. Consolidating ledgers across multiple entities should never be complicated, even when you are dealing with different current currencies. 

#4 – Real-Time Data 

Though historical data certainly plays an important role in making business decisions, access to real-time data takes things even further. Making business decisions can be tough as it is, but with access to real-time data, you can be confident that the decisions you are making are based on the most accurate and up-to-date information available. No matter what the situation or decision, real-time data makes it easier. 

 #5 – Simplified Auditing

Finally, you should choose financial management software that provides you with a complete audit trail for every single transaction your company processes. This should include not only the original transaction, but also the workflow and all the approvals that led up to that transaction. This is a great way to ensure that you are following various guidelines, and it also allows you to produce compliance documentation in mere seconds. 

Your financial management software is an important part of your business. You rely on it to understand how your company is faring at any given time, so the information you access should always be accurate and up-to-date. When choosing financial management software, be sure that it offers you these five features as well as the ability to customize reports and workflow automation to your company’s unique needs. 

Category: Accounting Software, Blog

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Flexi Software Adapts to All Regulatory Changes so you Can Have Peace of Mind

Flexi offers comprehensive financial management software that simplifies and automates the entire accounting workflow process, without compromising security.

By providing open, cloud-based architecture that meets even the most stringent security requirements, data can flow seamlessly with any system.

With 25 years experience, the Flexi team has honed in on and perfected the diverse accounting needs of a variety of industries, including financial services, banking and credit unions, insurance, healthcare, travel and hospitality, retail and wholesale, logistics, and more.

Flexi is robust and flexible, and will not only simplify your accounting processes today, but also have you ready to adapt quickly to changing market or business needs, specifically in regulatory changes and compliance.

Flexi adapts to regulatory changes

As a Flexi user, you and your business can have peace of mind. Flexi adapts to regulatory changes in the industry, constantly keeping you up-to-date and on your toes.

Banks and credit unions

The banking industry is one of the most regulated industries in the United States with the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the FDIC keeping a close watch on regulation and compliance. Flexi solutions enable your organization to successfully compete in the dynamic banking and credit union markets. Automate and streamline your financial processes with the tools and controls to support complex regulatory requirements and changing market demands in the banking, credit union, and financial services industries.

Healthcare

Healthcare is another highly-regulated industry, and Flexi can help streamline and automate your labor-intensive financial management function in various healthcare industries. Flexi solutions enable your organization to successfully compete in the dynamic and volatile healthcare market. Automate and streamline your financial processes to support complex regulatory requirements and changing market demands in healthcare.

Other industries

While banks, credit unions, financial services, and healthcare are very highly regulated, Flexi is prepared to handle regulatory compliance for a variety of other industries as well. Flexi takes the guesswork out of the equation, preparing you and your team for success.

The bottom line

As an industry leader, Flexi can help your business succeed, regardless of your industry. With expertise and 25 years experience, the Flexi team can offer highly-specialized support for your specific and unique needs. Flexi’s product solutions are 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 adapting to regulatory changes across industries and see how Flexi can partner with your business today.

Category: Blog

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