Qvinci is a powerful, web-based financial consolidation reporting tool that offers an intuitive dashboard, email alerts, filtering by non-financial properties, multiple currency conversion, Excel exports, and file-level security. This robust system is capable of consolidating and analyzing financial files for up to ten thousand locations. Qvinci’s Standard Chart of Account mapping technology allows any user to get accurate, consolidated, standardized reporting in minutes.
Qvinci provides flexible and customizable reports including Profit & Loss statements, balance sheets, cash flow statements, expense by vendor and sales by customer reports, as well as A/R and A/P aging reports. It provides a convenient, aggregated and/or consolidated view of these financial reports for its users, to ensure that everyone responsible for financial management and oversight has access to up-to-date data.
This solution also offers benchmarking, trending, and ranking analytics. It can consolidate multiple file types quickly and painlessly – including QuickBooks Online, QuickBooks desktop, Xero, MYOB, and Excel.
There are a lot of features to like, but we like its fraud and error detection capability. With Qvinci’s comprehensive reports and unlimited logins, transparency is increased and the likelihood of fraud is reduced. The system allows users to sync the past three years of financial data – helping to ensure any omission or discrepancy is identified so it can be quickly amended. Qvinci offers a free trial to experience everything it can do before you purchase.
Tim from TMHC
Specialty: Food / Beverage
Employees number: 6 to 10 employees
It has great reports that are very helpful to analyze the data you have at hand
Still quite similar to what you can do in quickbooks, just faster. Waiting for them to be able to work with an adjusted period schedule
Great if you are set on the schedule of your accounting software, but if you have separate periods wait until they get this feature available, which I have heard will be soon!
Gerry from Werner Electric Ventures
Employees number: 101 to 500 employees
The ability to aggregate multiple location's financials and perform side by side comparisons is very powerful for both the corporate level as well as the unit level operator. The graphics and analysis options make the information easy to understand and to compare. The maintenance of the standard chart of accounts is straight forward, but can be tie consuming depending on the lack of standardization within each of the reporting units.
If the financial users at the unit level are not interested in comparing financial performance with their peer group, getting them to provide accurate and timely financials is difficult. If there is insufficient standardization of the chart of accounts, the comparability of information is much less useful. In the end, this product is only as good as the information coming in. If the corporate level company cannot enforce a standard SCOA, consistent accounting rules and compliance with the timing and accuracy uploading of monthly financial data, the real power of this product is not realized.
You have to understand the likelihood of all the unit level operators being willing top pay the monthly fee, submit accurate, standardize and timely financial information every month. If they won't meet all these expectations or it will require a lot of badgering or massaging to get useful information, then it is likely going to be an unsuccessful venture.
One more thing to fully understand is what are the users going to do with the information. If the software provides good comparables, are the unit level or corporate level users going to take action because of it. If not, then don't try to implement this.