Best Financial Software
Phocas Financial Statements allows finance leaders to carry out cloud-based financial reporting, analysis and visualization. This product delivers efficiencies to the finance team and the business more broadly.
Data from the ERP is fed directly into Financial Statements, leaving the ERP data intact to ensure ledger data integrity. In the product, finance can access a data interface designed for faster reporting, consolidation, customization, drill down and seamless export to Excel for any extended modelling.
The finance leader can configure the statements to specific areas so that users only see what they need in order to manage their area’s expenses and financial KPIs proactively and effectively answer their own questions.
The software integrates with multiple data sources to reveal what’s really going on across a business so people can make better and faster decisions. People can also achieve immediate drill through to transactions for quick ad hoc analysis without touching the ledger.
Phocas Financial Statements is also designed to work with Excel and have an extension into it, as required. When exporting to Excel, all Phocas hierarchy’s are maintained, and formulas remain intact for seamless integration enabling additional modelling such as cash flow forecasting.
One customer says:
“Phocas Financial Statements makes me feel empowered to give this information to all the people in an easy to understand format. We're able to make better decisions quicker and put information in the hands of the people who are really running our businesses day-to-day. As we're growing we need to be able to make decisions at a different level sometimes and this gives them the ability to do that."
Nicholas Aversano, Chief Operating Officer from Trade Supply Group
Best Budgeting Software
Phocas Budgeting and Forecasting builds on the Phocas Financial Statements product and together they elevate a business’ budgeting, reporting and analytics to be more inclusive and powerful.
Budgeting becomes easier as the tool has built in workflows so the co-ordination of a budget is less of a burden so it can be updated easily and revisited many times throughout a year. For guidance, comments can be attached, and a detailed history of each workflow can be viewed. With built in permissions set by Finance, GL codes are only visible to certain people on a needs-to-know basis. Notifications let contributors easily track the items assigned to them and alert them to new tasks.
Forecasting uses the budget workflow and worksheet and provides a simple way to either re-forecast estimates during the budget period or prepare a rolling forecast which will form the basis of the next year’s budget. You can prepare your forecasts easily, by bringing in current year actuals to-date and revising budget assumptions.
Phocas budgeting and forecasting software allows companies to collate several data sources into a single source of data so they can understand the full financial position.
The spreadsheet nightmare or the ‘budget hell’ is over as people no longer need to worry about version control, validation issues or permission access. Budgets become integral to an organization and more widely trusted and used. There is a companywide razor focus on the numbers and people can see the impact of their decisions on financial performance in real time and more accurately predict future issues and cashflow.