Whether you're queuing up to buy your beloved a bunch of red roses or preparing for a night in with the gals, it's hard to miss the buzz around Valentine's Day. This Valentine's Day, we thought we'd take look at some of our favorite Syft features and why we love them – a little ode to Syft.
It may be a tad less romantic than your traditional "Roses are red," but maybe you'll find something even more dazzling than your Galentine's champagne here.
Live View 👀
Our first favorite feature should go without saying – Live View. It's been called "the future of reporting" and has received rave reviews from accountants and business owners worldwide. As Grace Johnson, owner of G2CFO, says:
“The Live View made Syft the easiest solution for our clients to access their financials.”
Why is it called "the future of reporting?" Well, with Live Views, you no longer need to spend hours building reports, and you don't even have to download the report when you're done. Instead, you can just share a URL with the relevant party to view the report online.
The big win 🏆: Live Views use live data that updates in real-time.
Moreover, you can easily see who has created each Live View you have access to and manage access from a clear overview.
You can also:
Style Live Views just as you would any other Syft report;
Password-protect them for extra security; and
Unlock the data beneath each line of your management reports and cash flow statements using the Magnify tool.
Pro tip 💡: Magnify illuminates the key trends and transactions, as well as associated contacts, at the simple hover of your mouse, turning reporting into a fully interactive experience.
What's more, you can add comments down the side of your Live View to draw attention to certain key elements. You can even attach videos or images here to further explain what's happening.
Dashboards 📊
Next in line, we have Dashboards. Dashboards are one of our proudest and most highly anticipated features. They're totally customizable, with drag-and-drop powers to make it easier to position cards the way you like, the ability to add images to make up for any reports you may be missing, and the power to show you financial information for multiple entities on a single page.
But wait, there's more! With Dashboards, you can also:
Add cash flow information;
Add financial statements as tables or donut graphs;
Customize the colors of your dashboard graphs; and
Share dashboards as URLs or embedded links in your own website.
Being able to show clients and stakeholders what's going on in an entity – or several entities – in a visual way provides great clarity in a fraction of the time it would take to consult pages of numbers. As Steve Bicknell, Founder and Director of BBA, puts it:
“Syft presents information in a really great way and the percentages and the charts are really useful and fast to do.”
Sound good to you? Visit Visualize: Overview and then Dashboards to get started today – or learn more from the Knowledge Center article (how-to videos included!)
Consolidations 🤝
Acquiring another business or working within a franchise? Consolidated reporting may be pretty important to you then. With Syft's Consolidation tool, you can consolidate financials from any accounting software, trial balance, transaction list, or ERP.
You also have the ability to consolidate unlimited entities and consolidate consolidations, all while making the most of a fixed pricing model.
Users love our Consolidation tool because it:
Makes eliminations easy;
Provides end-to-end automation; and
Helps increase the transparency of inter-company transactions.
Peter Magner, CA (SA), Sales and Marketing Director at Iridium Business Solutions, appreciates Syft's Consolidation tool because it takes the manual labor out of consolidated reporting. In his words:
“We hated updating the spreadsheets manually, so being able to consolidate the reports on Syft was a big win.”
This tool is there for you as your business grows.
Ledgers 📑
Next in line, we have Ledgers, a super powerful feature that enables you to create a table combining any data type. From Profit & Loss and Balance Sheet accounts to customer, supplier, and connections data, Ledgers has got you covered.
Ledgers are helpful for almost anyone but have particular value if you want to:
View (or share) a particular selection of certain accounts (instead of providing full access to a P&L or Balance Sheet);
Combine account data and connections data to create equations such as "Revenue per staff member;" or
Compare specific accounts to budgets or forecasts without sharing the entire budget or forecast.
Meet any of these criteria? Well then, Ledgers are for you!
Pro tip 💡: If you are working with data from a Stripe entity, you can create ledgers that combine cash flow, subscription, and connection data in a single statement.
Connections 🔌
We've been considering financial data, but financial data doesn't tell the full story of a business. To get the whole picture, you also need to consider non-financial data. Here are a few reasons why:
Systems for evaluating financial performance usually concentrate on yearly or short-term results compared to accounting requirements. They don't consider competitors' or customers' needs when measuring development. They also don't take into account other non-financial goals that could be crucial for long-term aims, profitability, or competitiveness. On the other hand, non-financial KPIs take long-term organizational plans into account.
Non-financial data can offer quantifiable, indirect indicators of a company's intangible assets, which are essential success factors like customer loyalty and intellectual capital.
Many non-financial measures are less vulnerable to outside noise than financial indicators. Consequently, by giving managers more accurate feedback on their activities, the adoption of non-financial KPIs can enhance managers' performance.
By incorporating intangible, non-financial KPIs into your analysis and forecasting, you can gain greater insight into your business, its challenges, and its true potential.
All this to say – this is why we love Syft's Connections tool. This feature allows you to import non-financial data into Syft to augment your financial reporting and provide you with insights into data from your payroll, marketing, task management, CRM, team management, and communication applications.
Plus, you can easily import data into Syft via our Spreadsheet Link or with the help of Zapier.
Closing thoughts 💭
Whether you are looking forward to an evening of romance, drinks with other single friends, or aren't keen on Valentine's Day as a whole, I hope you'll find our top feature picks useful and that if you haven't tried any of them yet, you'll be keen to try them now – and see why we love them for yourself.
Roses are red,
Violets are blue,
From all that's been said,
Syft has something just for you.
Happy Valentine's Day from us at Syft Analytics! If you'd like to find out more about any of the features we've paid tribute to here, please book a call.