Vivid Reports – Flex

02/10/2019

If you are using a reporting tool such as SSRS, Power BI, Crystal Reports, SmartLists or Microsoft Access, to name a few, then it would definitely be worth your while to take a closer look at Vivid Flex.  There are many unique advantages and features, that Flex has to offer, to make your reporting processes more efficient including eliminating manual exporting / importing processes.

Vivid Flex by Vivid Reports is reporting and data capture software that combines the power of Excel with the data retrieval and manipulation capabilities of a database.  Excel is great at formatting, presenting and performing advanced calculations with data.  But it falls short when trying to get consistent, efficient, accurate and secure data into Excel.  Vivid Flex solves these problems by making your data directly accessible from Excel.

Vivid Flex allows non-technical users, without any knowledge of SQL (Structured Query Language), to create rich reports with:

  1. Control Panels – for quick and easy selection of data
  2. Drill-Down – for seamless analysis to other reports, sub-reports, and calculations based on your analysis needs
  3. Automation – for report replication and distribution such as a weekly Flash sales report

Vivid Flex allows you to report across all areas of your organization even from different sources and database platforms.  This allows you to do such things as reconciliations between systems, drill-through to other systems for more detailed information, reporting directly from the source without having to duplicate all data into the same system.

Vivid Flex not only reports on data, it can capture data too.  Take any data in Excel and easily capture and write that information back to a database.  Once in the database you can report back across the data to consolidate and query information.  For example, you can use Vivid Flex to capture pipeline updates from your sales team to enable sales forecasting and cashflow prediction. Another example is to capture statistical and supplemental information that may not reside in any of your existing systems such as a Sales Rep rate of commission to calculate commissions payable or assumptions and variables used in your reports.

Vivid Flex is also fully integrated with our Vivid CPM product.  When you use both products together you can combine both financial and operational performance.  Take your usual financial reports and add addition information from Payroll to get FTE, production volumes, number of customers served, sales details from A/R and expense details from A/P.

Take your reports to the next level with Vivid Flex!  Contact us today!

 

 

Vivid Reports – Cloud Ready

03/07/2019

Everyday, more and more companies are turning towards Internet based solutions to manage their accounting and operating systems.  IT departments are being simplified and investments in servers, routers, and storage systems are being radically reduced or eliminated.  Internet (aka Cloud) based solutions provide many advantages including dedicated security experts to monitor and protect systems, guaranteed backup, minimizing downtime, and easy access to data and information from anywhere you have an Internet connection.  The desktop is also being replaced with options to access information from tablets and phones and without having to install a bunch of software on every device that you use.

But moving your systems online is not perfect and comes with some new challenges.  For example if your Internet connection goes down you can’t access your data.  As more data is consolidated from multiple organizations into a single data center it becomes a larger target for cyber criminals.  You also run the risk of logins being compromised through phishing attacks and various other pitfalls now that your data can be accessed online.

Perhaps the biggest challenge is that you create remote data silos where it can become very hard to impossible to report across all of the data an organization accumulates into these systems.  The systems together may require re-entry of the same data multiple times.  I.e. if you have online systems for ERP and CRM then you may find that you have to enter the customer name in both systems.  This can also make it harder to align the data for reporting.  Some online systems may charge you to access your data remotely or to use third party reporting tools or not allow any remote access at all.  You may also experience throttling and performance delays when trying to report over a larger data set or period of time.  Some systems can “talk” to each other but you have to create openings in security and share connection or login information with multiple systems to enable this.  Combining online data with legacy on premise systems also makes things more challenging.

Vivid Reports Business Intelligence helps organizations overcome these challenges and to work with your data efficiently regardless of where that data resides.  So long as your data is accessible it can be reported on, combined with other data and presented with Vivid Reports for easy understanding and insights.

Vivid Reports Business Intelligence uses Microsoft Excel to format and present reports but it does so with numerous advantages and efficiencies allowing you to view, interact with and understand your data securely.  Vivid Reports also offers web-based viewers that take a traditional Excel report and make it accessible through a browser such as Google Chrome.  All the same functionality of the desktop version are available but you no longer need Excel to view and work with the reports. The nice thing about this is that you can also view reports on a mobile device such as iPhone or Android.

But perhaps one of the biggest benefits of Vivid Reports is that it allows you to still use Desktop Excel or Office 365 – Excel (desktop version) to access online data.   The desktop version of Excel is still miles ahead of the online version, especially when it comes to speed and your ability to navigate and interact with reports.  Vivid Reports does this by treating Excel as if it was a browser!  That’s right, just like you open Chrome or Safari to go online, you can open Excel to go online with your information!  Vivid Reports does not store any of your data in Excel, it is all stored in the Vivid Database or is accessed live directly from the source.  This allows you to only transfer down to your report the information you have chosen whether it be for a particular product, customer set, or period of time.  Vivid Reports enables that data to flow across the Internet into Excel.

Vivid Reports CPM (Corporate Performance Management) software that provides financial reporting, budgeting, consolidations, and analysis also comes with a Vivid Database.  If your ERP is online such as Dynamics 365 (D365) or Acumatica, or Epicor then the Vivid Reports database can reside in an Azure server.  You do not need to have data on your local servers.  The only thing that you need is Microsoft Excel and the Vivid Reports client.  The Vivid Database can be set up so that it syncs with your ERP at preset times and then the data you need to produce a report or populate a drill-down screen will flow directly over the Internet and into Vivid Reports!

Today Vivid Reports is already integrated with many cloud ERP including D365, Acumatica, Epicor, Blackbaud, QBO, and other systems.  Please contact us today to learn more.

Be Wary of the Formula

07/03/2012

Before we ever wrote a single line of code when we were developing Vivid Reports we set out to invent a new way to interface with Excel that would not be based on a formula, but would still be flexible, and most important would be secure and reliable.  Even though we were very familiar with Excel, and had used it for years, we researched Excel extensively to find a better way to integrate.  The unique method we created and resulting stability, flexibility and performance has far exceeded anything we could have imagined. (more…)

Don’t Forget About Financial Reporting…

29/09/2011

Graphs, Charts, Traffic Lights, Thermometers, Spinning Monkeys, you name it….

We are a visual species, and the seemingly endless onslaught of data visualization BI tools would suggest that we are becoming even more accustomed to making business decisions with the help of pretty pictures.

I don’t mean to diminish the value of these types of tools. Without question, data visualization is a great way to merge all sorts of data together from disparate sources.  Until recently,  it was nearly impossible to provide decision makers with access to this variety of information in a format that was easy to configure and consume.

Data Visualization tools are helpful for presentation and analysis of both Flexible and Stuctured G/L based Reporting.  Unfortunately, you can’t file an Executive Dashboard with the IRS..

If Data Visualization is the Sizzle in Business Intelligence, Financial Reporting is the Steak. 

Structured Reporting is often left out of the BI discussion, yet all organizations require and rely on Financial Reports/Statements.

Your management team might like dashboards, but anyone responsible for the financial performance of the organization, in addition to your Shareholders, your Auditors, your Banker, your Government and others all require accurate financial reports.

Cash Flows, Balance Sheets, and P&L Statements are not going anywhere, and the preferred format for creating them is still Microsoft Excel. Admittedly, Excel isn’t perfect… Human error, Security, Version Control, Ability to Collaborate all present challenges to growing organizations.

That is why we created Vivid Reports. We encourage you to learn how we are helping organizations manage their businesses more efficiently, close month end faster, and produce accurate Financial Reports in a timely fashion. We even built in some Data Visualization Tools (Spinning Monkeys are in Development).

Multidimensional Chart-Of-Accounts (COA) Considerations and Tips

20/07/2011

General Ledger Account Structure

 

In this brief article we will examine the Multidimensional Chart of Accounts. Don’t forget to download the Free Top 10 Tips for Organizing your Chart of Accounts Document at the end of this article.

Over the years we have seen a lot of Chart-Of-Accounts (COA), and some are set up much better than others. There can be various reasons for this such as change in organizational focus, the length of time the system has been used, staff turnover, and a poor design.

The intent of this article and the accompanying “Top 10 Guide” is to provide some tips based on our observations over the years related to the design that can hopefully save you time and help you get the most out of your financial reports and analysis.

COA Definition & Meaning

A multidimensional Chart-Of-Accounts (COA) is an account numbering system that has multiple segments (aka dimensions) and is typically used by a larger organization.  These organizations are more complex (for example they have multiple physical locations or product lines) and need to track their Assets, Liabilities, Equity, Revenue, and Expense transactions from more than one perspective or identifier within the General Ledger.  They are also, of course, running an ERP that supports this enhanced structure such as Microsoft Dynamics, Epicor, or SAGE.

A typical example is an organization, such as a restaurant chain, that has many locations.  They cannot track revenue and expenses at just the account level but need to identify each transaction on a location by location basis so they can produce and analyze financial reports per location.  This will enable management to know which location is the most profitable, the most expensive, has the best margins, where physical assets are located, and so on.

This basic example would require each transaction to be coded so that it identified two things: the main account (aka core, primary, object) segment and also the location number.  In figure #1 below there are three segments because this organization also wants to track things on a departmental basis.  This figure shows the “Full Account” (segment combinations that are used), the individual segment values and descriptions, and lastly the definition.

 

COA Account Table

 

For additional Information Download the Free 10 Tips for creating and organizing your Chart of Accounts (COA) .

 

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