FastClose’s software helps finance departments to quickly close a month end and build reports. It means you can consolidate by account code segments or across multiple databases. As well as drill down from P&L’s and Balance Sheets into live transactions. FastClose completely changes the way accounts departments close their month and year-ends.
David Worsman, Managing Director of Ochiba, explained the partnership: “When SAP first introduced to us FastClose we were really impressed. We could immediately see the benefits to our customers. There are many reporting tools on the market, but FastClose is different. It’s a real-time multi-dimensional tool that comes configured against Business One. And takes just 15 minutes to install!
A Powerful Reporting Tool
“FastClose provides standard templates that help customers build reports right out-of-the-box. The software means you can instantly drill down into the detailed transactions. By the end of day one, you can build a management report with full auditability. The ROI is exceptional.”
Dave advisors, “Software adoption is the hardest thing to achieve these days. People just don’t have the time to learn new systems. That’s why Excel, with all its faults, is everywhere in the accounts department.
“But FastClose is so easy to use. One of its many features is the hierarchy engine where you can build accounts and calculations down the page. This is perfect for accountants as it mirrors the P&L and Balance Sheet. It also includes an engine that enables you to do calculations across columns. This means you can add periods into quarters, compare budgets to actual, and calculate variances.
“We’ve found that P&L and Balance Sheets can be built in minutes and then pivoted with a simple click. Something that you only find in complex business intelligence tools that take months to implement.”
Nick Gomersall, CEO of FastClose, explained further: “FastClose has already been a big hit with Epicor customers. So, we were looking for an SAP Business One partner to help with the connection to the database.
Simplicity is key
“We have designed our software so that it can run over any ERP database. However, we needed help with SAP’s database structure so we could remove any complexity.
With Ochiba’s help we’e made sure users don’t have to work out where tables and columns are. We’ve worked together to make sure all the key information is easily available. All an accounts team needs to do, is open a template to get at the data. Any way they want to view it! All the complexity is hidden from the end user.
Building on strengths
Dave picked up further on FastClose’s strengths: “One of the great things about FastClose is that it can connect to multiple SAP databases. Business One is a single company system, but FastClose enables you to pull in data from multi companies. You can then view this different company information next to each other. The hierarchy and calculation engine mean you can consolidate multiple companies. Plus you can translate currencies if required, which is hard to do today in SAP.
“FastClose only currently runs over the GL, but it won’t be long before more modules are added. Therefore, mirroring whats happened in Epicor. Soon, customers will be able to drill from GL to the sub-ledgers for detailed explanations of high-level balances and variances.”
Nick added, finally, how excited he was about the future of SAP Business One with FastClose. “We see a big market for FastClose in Business One and it’s great that we have the backing of SAP.”
Ochiba Business Solutions – an SAP Gold Partner – create innovative, industry-specific solutions for their customers with the world’s leading ERP solution, SAP Business One.
FastClose Ltd is a specialist reporting company offering a tool that links directly to the SAP database and which gives unprecedented access to data. Designed to be super easy-to-use, accounts departments will be using the product in just a few hours for month- and year-end close, reconciliation, and flash reporting, leading to a rapid ROI. FastClose bridges the gap between complex and costly BI tools and uncontrolled spreadsheets.
A 60-day free trial of the software is available, and installation typically takes less than 15 minutes.