The Ultimate Dynamic Duo: How Solver and Acumatica Streamline xFP&A
The business landscape today is as complex, competitive, and fast-paced as it’s ever been. Companies must stay on top of trends in the economy and adapt to them quickly if they want to grow. As these and other business challenges evolve alongside an increasingly unpredictable marketplace, so too must the tools designed to support them. Extended Financial Planning and Analysis (xFP&A) solutions—programs that enable organizations to go beyond basic budgeting, forecasting, and planning—have become especially crucial resources.
Enter Solver, a cloud-based xFP&A solution built specifically for mid-market companies aspiring to thrive in today’s economy. Catering to a wide range of industries, Solver offers a suite of easy-to-use features that automate reporting and planning processes. As a result, valuable time formerly allocated to prep work is now available, while robust, up-to-date information businesses rely on to make important financial decisions quickly and soundly is now possible. Using this powerful tool in tandem with a mid-market enterprise resource planning (ERP) system such as Acumatica can help businesses streamline workflows; pull, consolidate, and analyze accurate financial data from a single source of truth; and implement revenue-driving strategies that set their organizations up for long-term success.
How do Solver and Acumatica Work Together?
Similar to most ERP systems, Acumatica offers financial reporting and basic budgeting functionality. Companies in construction, senior living, nonprofit, and many others will adopt an xFP&A solution such as Solver—an Acumatica Certified application—when they outgrow Acumatica’s built-in functionality or when they want to upgrade from manual spreadsheet-based models for budgeting or forecasting. When Acumatica and the xFP&A solution integrate, Acumatica users reap the benefits of Solver’s time-saving automation, while also enjoying greater financial reporting, analysis, and planning power.
Solver enhances the capabilities of the popular cloud-based ERP in five ways. When businesses use both solutions, they can do the following
1.Get Started Right Away
As an Acumatica user, it’s easy and fast to set up Solver. The xFP&A solution’s QuickStart integration feature enables Acumatica-powered businesses to begin using Solver tools right away, minimizing disruption to normal company operations. Solver also offers unlimited on-demand training, ensuring subscribers always have access to helpful, self-paced resources, including hands-on labs, downloadable content, video courses and more, no matter where they are working or what time it is.
2. Create Workflows and Boost Productivity
When it comes to xFP&A, organization is key. Solver’s workflow features are designed to increase assignment visibility, enhance planning, and help teams stay on track with routine, yet crucial financial duties. Users can create and name workflows for essential jobs like report generation; select primary assignees, reviewers, and approvers; attach report templates; set deadlines; and easily monitor each contributor’s progress. The system also generates handy assignment notifications for all designated participants, who can view the tasks they’ve been allotted in a dedicated assignments tab.
3. Access Data From a Single Source of Truth
Funneling data into one central place can make it easier to manage and understand. Based on the Microsoft SQL Azure platform, the Solver Data Warehouse is a pre-configured, yet customizable xFP&A data warehouse that stores and organizes financial and operational information from sources such as Acumatica for consolidated reporting, analysis, and dashboards. With information on finances and operations in the same data warehouse, companies can find trends and exceptions in performance for smarter business decisions.
4. Customize Templates for Seamless Report Generation
Forget tinkering with spreadsheets! Solver empowers businesses to eliminate error-prone manual exports and formatting, and move to a modern, automated reporting process fueled by the solution’s Data Warehouse. Once Acumatica users complete Solver’s QuickStart integration process, they can immediately begin browsing Solver’s extensive library of out-of-the-box report templates: vital tools for companies looking to accurately consolidate and analyze real-time operational and financial data. Accessible via Solver’s regularly updated template marketplace, which also boasts turn-key models for planning forms and business-intelligence dashboards, all of the templates can be customized for an organization’s specific needs. The solution’s ready-to-use templates include monthly cash flow, profit-and-loss, and driver-based sales forecast models, to budgeting and accounts receivable aging reports designed to help accountants identify past-due customer balances. Users can also take advantage of Solver’s versatile cloud-connected report designer to build and categorize completely bespoke templates from the ground up, or tap the solution’s ad-hoc reporting feature to analyze intel from the Data Warehouse quickly without creating a full report.
5. Automate Data Sharing
The only thing more important than the ability to crunch the numbers businesses need to make critical financial decisions? Getting that data in front of the right people. Solver’s Publisher feature eases the process by allowing subscribers the option to schedule the distribution of hourly, daily, and/or monthly reports on a recurring, automatic basis. Users can select report templates and parameters, designate recipients, and choose whether to send reports to recipients’ email accounts or archive them as excel sheets or PDFs.
Get the one-two punch of Acumatica and Solver
Bam! Slam! While the Dynamic Duo need to fight the city’s villains, you neither need a superhero costume nor an alter ego to make better, more-informed business decisions. The combination of Acumatica and Solver do just that: Make your life easier, less complicated, and enable you to beat the competition.
For more information on how Solver’s integration with Acumatica drives business success, please visit Solver’s website.
