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Phocas software ranks in Capterra’s best financial reporting tools of 2021

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Phocas software ranks in Capterra’s best financial reporting tools of 2021

Phocas has secured a place in Capterra’s newly released Financial Reporting Software Shortlist based on customer feedback. Phocas is considered one of the top 20 most useful Financial Reporting tools for 2021 from over 392 products reviewed on Capterra..

Phocas is recognized as an emerging favourite and is placed high-up in the bottom right-hand quadrant. Emerging favourites are products that rate highly in satisfaction (sometimes even higher than top performers, which is exactly what happened in the case of Phocas) but aren’t as well known. As the Phocas financial reporting, planning and analysis products have been in market for some 18 months this is a fair assessment.

Capterra analyzed 392 products in its financial reporting database, then it eliminated products that didn't meet its criteria for functionality. From there they took the highest rated and most popular products and plotted them on the chart below.

The Capterra shortlist methodology

Screen Shot 2021-10-06 at 1.55.03 pm

The Capterra Shortlist methodology scores vendors on two dimensions: User Ratings and Popularity.

  1. The Ratings component is plotted on the X-axis and considers the overall user ratings of products based on reviews written in the last 24 months. Users rate products on a scale of 1 star (lowest) to 5 stars (highest).

  2. The Popularity component is plotted on the Y-axis and considers average monthly search volume for a standardized set of keywords for each product, as derived by a proprietary search methodology. This is a measure of user interest and relevance used as a proxy for popularity.

Products are represented, included, and/or scored solely based on user ratings and popularity data and independent of any relationship that Capterra has with vendors.

Myles Glaisher, CEO of Phocas says it's great to see customers' investment in technology paying off.

"CFOs tell us that both the scale and pace of decision-making is changing so they need access to financial, operational and market data all in one place."

Myles Glashier, CEO Phocas

"It’s no surprise that more finance professionals are taking advantage of purpose-built software to automate manual processes and enhance financial judgment across the organization. Phocas gives leaders the confidence to run a more digital, efficient and flexible business," explains Myles.

What do the customers say about Phocas?

Chris, Chief Financial Officer, Wholesale

It is the primary tool for our management reporting. It's intuitive and easy to navigate. Gets to the answers quickly

Delaney, IT Data Analyst, Consumer Goods

I love the customization of creating reports. Our users enjoy the independence of creating their own reports and the flexibility they have with customizing the structure of any data pulled.

Linda, Programming Analyst, Wholesale

This product is easy to use and we create reports quickly.

Why technology and data are key business assets?

The pandemic forced many CFOs and Business owners to reconsider the company’s technology and data systems and accelerate digitization strategies to remain operational and competitive. Customer behavior also changed, and will continue to shift but the rise in the use of digital services will remain.

Demand is also taking time to stabilize, so business managers also need up to date information about business performance. As you manoeuvre an uneven recovery across your business, you need accurate data to determine the impact of decisions of financial performance in real time.

As more workforces operate from home, companies also need to provide the right tools and training to drive high productivity and motivation levels. Running agile and remote workforces can be successful, but set targets and review each quarter to determine what’s working and not.

Disclaimer: The Capterra Shortlist report constitutes the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, Capterra or its affiliates.

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Written by Katrina Walter
Katrina Walter

Katrina is a professional writer with experience in business and tech. She explains how data can work for business people without all the tech jargon. She is always on the look out for new ways data is being used by business people to know more and be sustainable.

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