Leapfin
About Leapfin
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Most Helpful Reviews for Leapfin
1 - 6 of 6 Reviews
Joe
Internet, 501-1,000 employees
Used weekly for less than 12 months
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed September 2022
Leapfin is a game-changer for high transaction volume businesses
Leapfin's core product has completely transformed our month-end close process, eliminating 4 days of manual work at month-end. It has made our close more reliable and repeatable, by replacing clunky, SQL and Excel-based processes with streamlined data integrations. The Leapfin implementation team is great to work with, but to be honest I'd really like them to make the Leapfin product more self-service, so we are less reliant on them for iterative releases and optimization projects.
PROSLeapfin provides us with an automated revenue subledger built with accounting business logic to handle hundreds of millions of transactions, generating automatic transaction-level journal entries daily so we can get summary-level, or any level of detail we need, revenue data we can trust every day. Leapfin provides us a clean revenue subledger that’s flexible in how it treats raw data, but immutable in how it treats finance data; this lets us summarize revenue in our ERP any way we like. For our accounting team, Leapfin eliminates manual spreadsheet acrobatics and SQL queries at month end, so we can post revenue to the GL on day one of month-end close. The immutability of the journal entries it produces ensures we’re in good shape for financial audits. For our finance team, Leapfin provides disaggregated transaction level data they can summarize on any dimension they need to analyze.
CONSImplementing Leapfin requires understanding your accounting operations precisely, and exposes deficiencies and gaps you may have in your data structure or accounting processes and requires you to resolve them to complete the implementation. In other words, it doesn’t let you sweep issues under the rug, and if you have done so in the past, you’ll have to face those issues now. Additionally, Leapfin's product requires Leapfin to perform all of the implementation on your behalf. Customers are unable to customize or optimize the product without Leapfin support.
Reason for choosing Leapfin
For high transaction volume, marketplace businesses, there is no better product than Leapfin. We chose Leapfin because both their functional and technical features are better than any platform.
Mostafa
Internet, 201-500 employees
Used daily for more than 2 years
OVERALL RATING:
4
EASE OF USE
4
CUSTOMER SUPPORT
4
FUNCTIONALITY
4
Reviewed August 2023
Great tool for the company for financial and revenue purposes.
I am very satisfied overall with using the tool as it fits my daily needs and makes my work easy in the company.
PROS- Easy and simple to use.- Integrations with other systems.- Main source to view financial movements and to provide reports.
CONSUpdating data take a little bit more time to reflect in the tool that may impact our month end closings.
Nicholas
Logistics and Supply Chain, 1,001-5,000 employees
Used monthly for less than 2 years
OVERALL RATING:
4
EASE OF USE
3
CUSTOMER SUPPORT
4
FUNCTIONALITY
4
Reviewed November 2022
Month End Close Process
Locking Feature and Rev Rec Rules. Being able to snapshot numbers from our operations software is huge for our process. Also being able to implement rev rec rules down to a slug level is important to the accuracy of our Month End Reporting
CONSThe search feature is only set up for a specific field. If you need to search by another field you have to type out the field name and the value, and it removes the field name if you want to search by the same field with a different value
Kevin
Internet, 1,001-5,000 employees
Used weekly for more than 2 years
OVERALL RATING:
5
EASE OF USE
4
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
4
Reviewed September 2023
Simplify revenue recognition
Leapfin has simplified creating a data warehouse of transactions by offering several integrations out of the box as well as the ability to create custom integrations. Leapfin makes recognizing revenue for those transactions across providers and platforms a breeze. The accounting and IT teams have appreciated how quickly we could implement Leapfin and iterate on the product. Their customer service and implementation teams are very knowledgeable and make sure we get the most out of the product
CONSWe are looking forward to more self service capabilities in the near future
Andrew
Logistics and Supply Chain, 1,001-5,000 employees
Used weekly for more than 2 years
OVERALL RATING:
4
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
4
Reviewed December 2022
Leapfin Review
It helps us capture our revenue accurately with the new 606 accounting standard put in place. It can track our changes month over month and is able to handle our large amounts of data.
CONSIt can be hard to do mass edits manually for transactions you want to adjust.
Kyle
Computer Software, 51-200 employees
Used monthly for more than 2 years
OVERALL RATING:
4
EASE OF USE
4
VALUE FOR MONEY
5
CUSTOMER SUPPORT
3
FUNCTIONALITY
4
Reviewed December 2022
LeapFin - GAAP Revenue Recognition
Overall we have had a great experience with LeapFin. It runs in the background, and gives us the ability to combine/enrich data from many different sources.
PROSThe ability to integrate with many systems within our tech stack.
CONSCustomizing Rev Rec logic seems to be complicated and managed on the back end. It would be beneficial if the admin/user can make changes in a friendly UI.