Synapse launches managed service for financial directors

Birmingham’s Synapse Information has announced the introduction of a new managed service that will make it easier for businesses to implement its flagship product, Cloud CFO, and solve the problem of group financial consolidation and reporting.

The managed service has been set up with partners, QR3, and will help Finance Directors who do not have the time to implement the Cloud CFO solution directly.

Cloud CFO combines the simplicity of the familiar spreadsheet interface with the power of an Oracle database.  By connecting spreadsheets to the cloud, the whole process for Group Company Financial Reporting is made easier, more accurate and more flexible and every member of the finance team gains access to real-time data.

The finance team continues to enjoy the simplicity and comfort of using a spreadsheet at the ‘front end’ with a connection to a very complex cloud ‘back end’. This eradicates the problem of keeping a complete track of changes made to every spreadsheet cell at any point in time since document inception. This is invaluable for forensic audit and for industrial grade security and reduces risk.

Synapse can now either deliver the Cloud CFO solution as a stand-alone unit or provide a qualified accountant supplied by partner QR3 to manage the implementation internally.

“We’re delighted to give our customers more choice by offering a managed service with our expert partner, QR3,” says Brian Donnelly, CEO, Synapse. “This new service allows businesses to rapidly innovate while all the hard work is done for them.”

Matthew Broadbent, Chief Executive, QR3 says: “We are looking forward to working with Synapse as we believe that this venture gives time-poor FDs the chance to achieve access to real information in real-time. The managed service gives businesses the potential to release capacity in the finance function so the focus can be on higher level activities while achieving major cost and time efficiencies.”