Ochiba goes live with FastClose for SAP Business One, watch the video to find out more.

 

For over a decade Ochiba Business Solutions have been creating innovative, industry-specific solutions for customers with the world’s leading ERP solution, SAP Business One.

SAP Business One is affordable, intuitive, adaptable and easy-to-use business management software, designed specifically for small and medium-sized businesses. It enables you to manage all your business functions with a single integrated system.

The Ochiba OPTIONS range of modules enhances SAP Business One to address the unique requirements of the industries we serve. As a leading UK SAP Gold Partner, Ochiba have the knowledge, expertise and solutions to maximise your investment in SAP Business One.

Aspera brings FastClose Accounting Intelligence to Epicor Customers in Ireland

 

 

FastClose, a provider of multi-dimensional reporting and enquiry tools for companies’ accounts departments, is delighted to announce a business partnership agreement with Aspera – a reseller of Epicor ERP software – to provide FastClose software in Ireland.

Aspera, a Dublin-based reseller of Epicor ERP software, has announced that it has signed an agreement to market and support FastClose in the Irish market. FastClose provides Accounting Intelligence software that is revolutionizing month- and year-end closing for accounts departments.

Lonan Byrne, CEO of Aspera, explains the tie-up: “We have been following FastClose’s progress with interest, and a number of our Epicor customers have purchased it to replace key spreadsheets that make up the monthly reporting pack.

“Accounts departments turn to Excel because they know it, and they haven’t got the time to learn new software. FastClose is different to other reporting tools as it comes preconfigured with templates that can be easily modified and saved to a local reporting folder.

“Significantly, FastClose runs in real-time over the Epicor database and gives the accounts team the capability to drill from high-level P&Ls and Balance Sheets down to the detailed transactions. What’s more, FastClose has developed templates for most of the sub-ledgers like AP, AR, SOP, POP, and inventory – so the drilling does not stop at the GL level.

“FastClose can drill from the GL to any of the sub-ledgers, and you can even drill from the sub-ledgers to the GL, or subledger to subledger, to get at the detail behind any transactions that cause issues at the month end.”

 

Nick Gomersall, CEO of FastClose, expanded on the new partnership: “Aspera helped us in the early days of FastClose as we needed to understand the key tables and joins that people use to build reports, and the drilldown they wanted. We have taken away the complexity of having to build BAQs or SQL queries with technical people, and now offer the accounts department a self-service reporting tool that is easy to use.”

Lonan Byrne offered more on FastClose’s ease of use: “What’s impressive is that FastClose can be installed in less than 15 minutes and then rolled out to the accounts team. So, by the end of the day, you are building reports and drilling down to the key control accounts that need to be reconciled. The ROI is hugely impressive. There is so much functionality; it’s like a Business Intelligence system but without the complication, and it is properly focused on accountants.”

Nick continued on this theme: “We refer to FastClose as an Accounting Intelligence system, which is what accounts departments really need. They are focused on numbers and not graphics – just go around any accounts department and you will see Excel, Excel, and Excel everywhere.

“FastClose has its own user interface that makes it easy to build and share reports. However, we recognise that Excel will never go away, so we have a FastClose plugin that enables customers to run saved FastClose reports – in real-time – directly in Excel with the ability to change variables like account codes, periods, years, books, and more, dynamically.”

Lonan provided more Epicor-specific information: “FastClose in a multi-dimensional reporting tool which means it can take advantage of the 20 account segments in the chart of accounts, multi-books, companies and – in fact – any of the dimensions in Epicor that are used to build management and statutory consolidations. It has a powerful hierarchy engine to mirror your P&Ls and Balance sheets; something you only find in BI systems. The key message is that it’s the accounts team that builds reports… not IT. The empowerment of the accounts team is something that IT and the accounts department both welcome.

Finally, Nick had this to say: “We have built up a good user base and will be adding more modules over time, plus we can share report definitions with other customers in order to build up a best of breed reporting pack. One customer of Aspera and FastClose used to take 8 hours to build a sales margin analysis report in Excel; something which now runs in under two minutes real-time over the live Epicor database.

“The Epicor partner community has seen the benefits of FastClose for their customers, and we are delighted that Aspera has joined the team!”

 

Aspera

Aspera Solutions has over 20 years of experience in implementing and supporting businesses across the Manufacturing, Distribution, Service, and Food & Beverage sectors. The company understands the unique challenges of businesses in an ever-changing landscape and looks to create partnerships and projects that – through vision and experience – lead to just one outcome… success.

Contact Lonan Byrne at +353 (0)1 461 1700

 

www.asperasolutions.com

 

 


 

McCoy Global Consolidates on FastClose for Epicor ERP Reporting

 

 

McCoy Global, a product and service provider for the international oil and gas industry, headquartered in Edmonton, Canada, has become the first North American customer for FastClose – a UK-based provider of Accounting Intelligence software for Epicor’s ERP software.

McCoy Global is a leading provider of equipment and technologies used for making up threaded connections in the global oil and gas industry.  The company has now partnered up with FastClose, the Accounting Intelligence firm making its name for Epicor-based reporting software. The initial tie-up between the two organisations focuses on translation of foreign entities and consolidation reporting.

Harold Ducote, Operational Systems Manager, explained the nature of the tie-up. “We had an issue with consolidation. McCoy Global is a public company, and we needed to translate our subsidiary companies into a particular format that we could not do in Epicor. This previously meant that we had to build everything in Excel.

“Signing into the Epicor user group forum, I noticed a thread that was asking for products that can cater for multi-company analysis and consolidation in Epicor. FastClose was recommended by two of their customers, so I made contact.

“FastClose allow a free trial, and so they emailed us the software, and we installed it in less than 15 minutes. We were up and running very quickly as the product comes with pre-defined templates for GL, AR, AP, SOP, POP, and Inventory.

“Immediately, I could see this was going to be a great help to our accounting team, so I got our Director of Finance, Sharon Abraham, involved.”

Sharon expanded on Harold’s comments further. “When I first looked at the software, it had a familiar look and feel to a product I had used before – InsightSoftware – at my last company when we ran JD Edwards. I then learned that the people behind FastClose were the same people that had been involved with InsightSoftware, so the learning curve on the software was minimal for me. I was so excited to see this functionality now running over to Epicor.

“For our proof of concept, we asked FastClose to help with the reporting translation of our foreign entities as well as the consolidation of the total company as it was not straightforward.”

Nick Gomersall, CEO of FastClose, explained, “The majority of consolidation systems can translate on a period-by-period basis the P&L at one rate, the balance sheet at another rate, plus plugin fixed values for historical accounts. However, what McCoy Global wanted to do was, as well as the historical accounts at a fixed rate, the P&L needed to be translated on a period-by-period basis, while the balance sheet needed to be done on the period cumulative numbers at the balance sheet rate. We then needed to sum up the P&L accounts to make them cumulative, and then run a cumulative TB to find the exchange translation gain or loss.

“Once we calculated this variance, it then had to plug this back to the P&L on a period basis by subtracting the current cumulative period by last month’s cumulative number. Interesting to say the least! Now McCoy Global’s consolidation runs in just minutes by using runtime variables that change the exchange rates and drop in the fixed values for historical accounts like retained earnings. The FastClose consolidation engine does the rest.”

Sharon commented further, “Not only has this saved us a great deal of time at month end, but it has also eliminated the risk that comes along with working on manually intensive spreadsheets.   We are so pleased we have found FastClose. We have bought all of the FastClose modules as we want to roll them out to the accounting department. FastClose are also releasing their security module soon, which will enable us to publish reports to more individuals and ensure that they only see the data they are allowed to see. Plus we can restrict access to modifying reports.

“FastClose has an extensive roadmap as they know what needs to be done. They have already had experience in JD Edwards and Oracle EBS, and are now bringing this unique functionality to the Epicor World in order to bridge the gap between Excel and Business Intelligence systems.”

Nick concludes, “We give a free trial as we want people to know what they are buying, and how it addresses the real issues that they have. Currently, Epicor has around six reporting tools that all do different things. Once you have gone through all of them, you then realise none of them addresses the issue of month- and year-end close. So, a number of these products end up as shelfware and IT then have to come in and build ad hoc reports using SQL or SSRS which distracts from their main job of managing the IT infrastructure and ERP system.

“FastClose has been designed to be easy to use which ensures it gets adopted by the accounting team and they do not have to rely on IT.

“We are really delighted to have McCoy Global as our first North American customer. We are especially pleased with how they want to work with us on further developments and have given us great feedback on the product.”

Why Luceco bought FastClose

 

 

8 Hours of Work Cut to 2 minutes: Colourtrend chooses FastClose for Brighter Epicor Sales Reporting and Analysis

Colourtrend, Ireland’s leading premium paint company, has chosen Epicor-focussed Accounting Intelligence company FastClose to expand their operational reporting for sales analysis, and beyond. 
 
Sinead McCarthy, Financial Director of Colourtrend, explained, “We first met FastClose at an Epicor user group when they were just starting up. At the time, their product looked really easy to use but only ran over Epicor's General Ledger; we wanted it to run over Accounts Receivable, Accounts Payable, and Inventory, and we were surprised at how quickly they were able to do this.
 
“We then challenged them to replace two of our most difficult reports, one of which was month- and year-to-date sales, by volume and value, for all of our product groups by individual product. 
 
“Normally, this report would take us a day to build. It is used by all of the sales and management team and is a key report. The challenge with the report is having to consolidate part transfer information, ship to data, and AR information, which the tools we had at the time could not do automatically. 
 
“FastClose stepped up to the plate and we now run this report in 2 minutes!”
 
 
Ms. McCarthy continued, “Also, by using FastClose, we have total flexibility for bringing in additional information like customer, plus other dimensions, and can now start to expand the sales analysis report rather than giving the minimum information that management need.
 
“An added bonus is that you can publish the report out to members of the management team and there are runtime parameters that allow you to change the period and year on the fly. So, now, we won’t be asked all the time for this information as it is self-service. Even more time saved.
 
“The benefit to us is we have now freed up time and can start to use FastClose for other key management reports. We are rolling out FastClose to all of our accounts and sales teams and can see that this tool will give us the management information that we need going forward.” 
 
FastClose offers specialist reporting software that links directly to the Epicor database and gives unprecedented access to data. It is designed to be super easy-to-use, with the product up and running in a few hours leading to a rapid ROI. FastClose is designed to bridge the gap between complex and costly BI tools and uncontrolled spreadsheets. 
 
Nick Gomersall, CEO of FastClose, expanded on the Colourtrend-FastClose tie-up
 
“As a start-up company, we were really lucky that Colourtrend took us on. We wanted to be stretched and get feedback on the key tables and joins that they needed to report over.
 
“What is great is that this type of report is now a basic template for all other FastClose users to use. Everything we do for our customers benefits all the others, and just pushes the product on.
“Our design criteria are that FastClose must be easy to install and use from the get go.
 
“We can install FastClose in under 30 minutes, and as we have standard templates for most of the core Epicor modules, users will be building high level multi-dimensional reports with drill down to the detailed transactions by the end of the day, something that is very rare in software today.” 
 
Ms. McCarthy concluded: 
 
“FastClose has a really user-friendly interface and we can also export information into Excel, but additionally there is a real-time plugin into Excel. This allows users to access saved reports from FastClose and to change period, year, product or any dimension that is in the report directly in Excel, giving real-time information every time you hit the refresh button. 
 
“We are looking forward to working with FastClose to expand the management reporting which we will need as we grow as a company.”