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Financial planning and analysis are ideal applications for AI. CFOs can predict trends and detect potential issues, with the speed and precision that is simply not possible for humans.
NAPLES, FL, February 06, 2020 /24-7PressRelease/ -- FYIsoft unveils a new suite of solutions for financial reporting, analysis and budgeting. Designed to accelerate the financial close and FP&A, the integrated software leverages artificial intelligence (AI) to help finance professionals complete complex consolidations and analyze enormous amounts of data within seconds.
"Financial reporting, analysis and budgeting are ideal applications for AI technologies," said Jim Van Riper, FYIsoft's Vice President of Software Development. "Properly designed algorithms can help CFOs predict trends and detect potential issues, with the speed and precision that is simply not possible for humans."
In addition to AI, FYIsoft's suite is loaded with features that are ready to use out of the box, without requiring IT assistance or costly customizations. This is particularly valuable for multi-entity and fast-growing companies where financial environments are challenging, yet the need for speed is imperative.
Highlights of FYIsoft's new release include:
* A single platform that unifies a strong financial reporting engine, ReportFYI®, with AI-powered analytics and budgeting to deliver superior accuracy with near real-time data, eliminating the cumbersome and error-prone tasks of manually accessing data from multiple sources.
* Robust analytics software, AnalyticsFYI™, includes ready-made templates containing an abundance of key ratios and statistics, industry benchmarking, and AI that enables users to quickly spot trends and identify potential issues.
* Budgeting software, BudgetFYI™, dramatically speeds the budget process with intelligent templates that can be pre-populated with actual or AI-driven data, automated consolidations that mirror actual reporting structures, and an approval engine that keeps all users accountable.
* Quick integration with ERPs and legacy systems provides a cost-effective solution for empowering finance teams to work with greater productivity and impact.
* Flexible deployment in either SaaS or on-premise environments with the ability to deploy the fully integrated suite or only the modules needed.
With this latest announcement, FYIsoft continues the momentum of success that has been building since the initial launch of its financial reporting software. Since that time, the company has experienced high growth, meeting the demand by multi-entity enterprises seeking an easier way to create and distribute the high volumes of financial reports required in these environments – complexities that many ERPs and Excel-based reporting software cannot easily accommodate.
"Over the past year we have been building out our new platform with the goal of introducing software to the market that was extraordinary," said Jennifer Cheng, President and CEO of FYIsoft. "In addition to our new AI-enhanced budgeting software, our previously released analytics software has been enhanced by AI-powered algorithms for both historical and predictive analysis, as well as benchmarking capabilities."
To learn more about FYIsoft, visit www.FYIsoft.com.
FYIsoft is committed to enabling finance and accounting teams to speed and simplify the financial close cycle and make better data-driven decisions with its unified FP&A platform for reporting, analysis and budgeting. Ideal for proactive CFOs desiring the ability for teams to work efficiently without relying on IT or costly customizations by consultants, FYIsoft's software is ready to use with AI-powered features not typically found in the mid-market. See how FYIsoft is improving productivity by 50% or more for finance and accounting professionals around the world at www.FYIsoft.com.
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