This page contains an excerpt of the questions we have received about Financial Suite® and the answers.
Frequently asked questions about over Financial Suite®
is Financial Suite® available on Office365?
Yes on SharePoint online, part of Office365. In 2017 we will release ur SaaS solution of Fast Close Manager.
is Financial Suite® available on SharePoint on premise?
Fast Close Manager and Reporting Manager work on these environments. On request we can install the other solutions for you on a local server.
Versies available for SharePoint 2013 and Excel as from 2013
What is Financial Suite®?
Financial suite® is the digital workplace for financials and gives access to the suite of Financial Suite business applications (apps) available on the global Office 365 network in the Cloud and on premises. Business solutions are available for the processes Financial Close and reporting, Legal, including contract life cycle management and ISO certification. The names? FastCloseManager, Reporting Manager, Company Manager, Contract Manager and QAManager.
Fast Close Manager
This solution takes care of process management for closing, reporting, budgeting and forecasting. The app also includes document management to manage all documents related to these processes. It consolidates all information to sub holding(s) and top level holding, supports an unlimited number of holdings and entities and is available where Office 365 is available, which means global presence without the need to build or maintain an own network.
It contains the use of Yammer for conversation and power query/power Pivot and Power BI dashboard.
Why the name Financial Suite®?
Financial because: action = transaction in a great deal of organizations.
Suite because it combines all sorts of SharePoint business apps
Apps for each process that is not embedded in transactional systems. Financial Suite® = ECM for Finance and Legal
Facts about unstructured data:
Unstructured data causes extra costs for your organization.
- Gartner: Datagrowth in the next 5 years: 650 %
- Google: Acceleration speed of datagrowth is increasing too
- SOx: 80% of company information is unstructured (WIKI)
- IDG: Fileservers will cost you 5000 euro extra per knowledge worker on average
The process never stops, people on vacation, ill or on leave, business as usual. Everywhere anytime, always available. On premise or in the Cloud.
Instant effective and efficiency improvement
Connecting and structuring tasks structuring data storage for documents, deliverables with a reusable workflow and finding without searching as a standard feature included, makes reporting life a lot easier.
Available on all SharePoint platforms, and global Cloud network called Office365.
Security of Financial Suite®?
Financial Suite®, Office 365 and auditing standard SAS 70/ISAE3402
Because you demand security for your data in The Cloud. SAS 70 II/ISAE3402 type 2 /SSAE16 assures that your data is protected and secure and that the procedures are floowed resulting in an audit report on the standard.
- SAS 70 in combination with the ISO 27001 standard that apply for Office 365 must assure you that everything possible is done to protect your data.
- ISAE 3402 type 2, formerly SAS 70
- SAS 70 stands for Statement on Auditing Standards number 70
- Financial Suite® and Office 365
- Microsoft has a SAS 70 type II and ISO 27001 certificate for Office 365. Our cloud products are deployed on the SharePoint online platform in Office 365. These standards are applicable for our products as well.
Make the cloud a secure place!
What is Financial closing?
Financial closing process is the process that helps people to complete the period end closing and prepare and complete the reporting to management, board and staff.
Financial closing is a process also known as period end closing, monthly closing, month end closing, closing cycle and financial close.
At period end procedures are in place to close the books, preventing new transactions in a reported period. After closing checks and balances are performed and analyses are made. When everything is ok, the financial statements as balance sheet, income statements and stement of retained earnings can be produced and distributed to audiences as management, the board and other stakeholders.
This entire process is called the Financial Closing process and helps you to know where you are during the process
This process can be manually done or can be heavily supported by software.
Because the financial (financial) situation is frozen, anyone has the same information.
What is Fast Close?
Fast close is completing the closing and reporting cycle in 5 working days or less.
According to André Salomons, expert on Fast Close, Fast Close is better, faster and more reliable reporting in 5 days or less. Fast close is the reward for a very well structured and organized closing and reporting process.
It results in a fast delivery of financial statements and management reporting.
Read more about our Fast Close Manager solution.
Fast close, the fast way to improve your business
When is your organization a top organization?
- Monthly results published within 4 working days;
- Quarterly results published within 20 working days;
- Annual results published within 30 working days;
- Budget cycle completed within 30 working days.
Prerequisites to become one of the best performing organizations:
– The closing process is monitored by the hour, not in days
– Timely, correct and complete reporting is the mind set
– Culture: people are accountable and rewarded when they perform.
– Culture: ‘first time right’ is key.
– Culture: Training and sharing knowledge and information is natural behavior, constant improvements is also natural.
Installation and configuration
What is the installation time?
It depends. Installation time on SharePoint 2013 or SharePoint online takes one hour per solution max. When you have bought more than one solution we can install more efficiently and average installation time per solution will be less than an hour.
Do the solutions require configuration?
Yes, governance is key. Customer needs to consider all permissions and rights carefully. Our manuals can help you in this process. Master tasks list in Fast Close Manager and the term store will take time as well to properly configure.
Can we install the solutions ourselves?
JYes you can do that with the manuals. Every solution has its own set of manuals. Available for Governance, administrator and user manuals are standard.
What is Office365?
Office365 is the name of office applications, i.e. Office, SharePoint, Skype, Yammer etc. of Microsoft. Read this page on Office365
Do I need to buy Office365 from you?
It can, but is not mandatory. You can buy Office 365 from your own supplier.