Accounts IQ transformed our business

Accounts IQ has helped us to create a much more streamlined, better-controlled and more effective finance team. The back office processes are more efficient, and the enhanced reporting provides us with deeper and richer insights into our business performance. The price point is also very reasonable for the level of functionality that we now have.

Pros

Being cloud-based has been a significant factor for us. One of the main other reasons for selecting Accounts IQ was the consolidation functionality which works really well. In terms of fitting in with our business processes, it gives us so much more functionality that it has helped to drive necessary changes in the way that we operate, in a very beneficial way.

Cons

The only real challenge we found was with our staff getting used to a different software system to do their work. Otherwise it has only improved our processes, controls and reporting.

AccountsIQ Saves us a Day a Week in Processing Time

The structure of the coding framework in AccountsIQ is extremely flexible and saves us so much time when preparing our external financial reports. We have added seven or eight entities since implementing AccountsIQ and we simply replicate the original model for each new subsidiary. It is a very uncomplicated approach and a time-saving solution for group companies. We've integrated AccountsIQ with other business systems such as electronic document management and a property management system. These integrations save us so much time and reduce the risk of human error. AccountsIQ also synchs batch payments with our online banking, which also reduces duplication of work. AccountsIQ’s customer success team are excellent. They helped us define dashboard reports which provide financial analysis in a very consumable way, allowing us to quickly identify areas in which we need to take action.

Pros

AccountsIQ saves us a day a week in processing time in data entry from other business systems, reconciliation, and automated invoice processing which allows us to spend more time on strategic tasks such as analysing and presenting information so that the senior management team can make more informed decisions. AccountsIQ simplifies complex consolidation procedures; and has enabled us to integrate information from our property management system Landmark; and provide insightful management reports using dashboards. We like the fact it has helped us streamline processes, it saves us a huge amount of time, it's a scalable system too. The advanced Business Intelligence, reporting and consolidation functionality are very good. We need to produce reports for our investors and it's really easy to get these on demand from AccountsIQ.

Cons

There isn't anything I don't like and we're glad we found AccountsIQ.

AccountsIQ Review

Very positive experience with AIQ , great functionality within the system , ease of use

Pros

Ease of use vs other ERP systems eg Sap . Staff learn to use this system very quickly Audit trail of information is very easy to follow

Cons

More options should be available within report writing or building

Staff & clients love using AccountsIQ software, it allows us to access live information in the cloud

Pros

AccountsIQ helped us to move away from the old model of sharing data sets with clients. We can work much more easily with our clients now, sharing access to the same real-time information stored in the Cloud. AccountsIQ has become an important part of our ongoing development, and is part of our strategy to move forward. The software enables us to offer our services to new consumer-based sectors such as retail, and will allow us to process much higher volumes of transactions through automated Accounts Payable. We have over 40 clients supported on AccountsIQ. With AccountsIQ we can work collaboratively and they respond to our needs and work with us to improve the accounting service we provide to clients. We feel we have the partnership we were looking for. The next step is integrating with CRM software and banking software.

Easy to use with advanced reporting and consolidation functionality and a flexible, scalable system.

Consolidation and multi-currency accounting Easy to produce hotel industry reports Faster invoice processing Reduced risk of human error Remote access Extended business analytics Easy integration with other systems

Pros

AccountsIQ is an advanced accounting solution which helps us attract business from larger, multinational hotel groups. Its complex functionality gives us the level of complexity, reporting and consolidation needed to win business at the higher end of the market e.g. multi-company consolidation and multi-currency accounting. We find AccountsIQ easy to use and it can be easily configured to pull off bespoke reports easily. AccountsIQ's open API means it is easily integrated with other apps such as AutoEntry's document scanning, this combined solution means we save hundreds of hours a month on data capture, analysis and processing of invoices and reduces the risk of human error. The business intelligence for clients is fantastic with customised dashboards and readily available insights.

We've been using AccountsIQ for five years now and it's perfect for our needs.

Pros

The system is used by thousands of our business students to work on tutorials for teaching business and financial management. It's a great accounting system for teaching as we can set exams with literally no set up required. Students can follow it easily and we can see clearly how each student has performed. We worked with AccountsIQ to create a version of the software that would enable UCD's students to learn and be tested, each year we have 500 students and so over the last 5 years we've had nearly 5,000 students using the AccountsIQ system. The University can set tutorials and reset all companies used for each tutorial to a starting position afterwards. Each year we get a fresh copy of AccountsIQ cleared of data and re-supplied for the fresh intake of students. AccountsIQ is more logically set out than some other systems, it isn't at all complex and students can see quite clearly the progression through various business processes such as the expenditure and revenue cycles. It's very intuitive.

AccountsIQ is really excellent. It's intuitive, simple to use and the implementation was outstanding

Complete transparency and visibility of financials Drill down to individual transactions High quality reporting Integrated with bank accounts

Pros

AccountsIQ was selected, because of its clear, simple and intuitive way of working. Now we have complete transparency and visibility of our financials. We can easily drill down to individual transactions and even down to items on an individual invoice without having to pull out any invoices or backups. AccountsIQ's implementation team helped design and create a set of customised reports for us. The reporting is high quality, and it's very simple to extract the information we need. It's a vast improvement over what we had before. AccountsIQ has been integrated with our bank accounts, so we can manage all payments and receipts online directly with the bank and download all bank transaction data directly and post automatically to AccountsIQ and complete bank reconciliations seamlessly.

Reporting and consolidation problems solved

We are a fast growing company which means consolidated reporting in multiple currencies is now required. We struggled previously with complex spreadsheets and a time-consuming manual process, but with AccountsIQ, it is a simple solution to a complicated problem. We didn’t want a clunky accounting system just because it could consolidate multicurrency. AccountsIQ solves our reporting problems without the need for an overly-complex and costly accounting system and saves us half a day alone by being able to produce reports at the push of a button. The onboarding/implementation process was straightforward and quick.

Pros

The software is intuitive It's easy to add new entities It saves us a lot of time which as we're quite a lean team makes such a difference Great for easy consolidation and multicurrency reporting

Cons

Wish I'd found it sooner - there was nothing on the market at this price point that could handle consolidation with ease.

AccountsIQ review

It has an overall high standard of functionality and is incredibly reliable, with top quality support in the event of an issue.

Pros

It has a high standard across a wide range of finance functions.

Cons

The process of getting custom reports created.

Lots of features for the price

Great software, Easy to use. Saves time and money. Great SaaS model makes it affordable. Great support.

Pros

Easy to use and paperless processes saves so much time.

Cons

Nothing much really. I'd like to spend more of my own time exploring the reporting.

Speed and powerful reporting

Great team & support with new features and functionality being developed and deployed all the time. Great application for enterprises to get more from the finance function.

Pros

Data segmentation Integration & automation Consolidation

Cons

The API is good but could be a little more available to extract reporting data from.

Really easy to use accounting and consolidation software, means I can create reports in 5 minutes

Automatic consolidation based on real-time data Easy to produce custom management reports Improved working processes such as purchase order approval Massive staff time savings

Pros

Reporting ability is fantastic - used to spend weeks each month producing consolidated accounts and management reporting packs (as we are a group with 80 entities) using a complex process run from spreadsheets but now with AccountsIQ it takes minutes. Consolidation is easy Great value for money Great customer support - nothing too much trouble and the implementation process was seamless and easy.

Accounting software user friendly

Flankly have not used this accounting software - have just read its profile and realised that this the software relevant to my accounting operations specific to the size of our business entity. Like other softwares, I see most of the basic modules which are relevant.

Pros

Have all the basic required modules for our entity.

Cons

Since have no experience on using the software, I am not in the position to commend on this - what I see in a nutshell, is the best for our environment.

Unbelievable functionality for the price. Very easy to use and lots of support setting it up.

Saves so much time.

Pros

Document storage, attachments and workflow processes. Saves so much time. Being able to attach the document from the system saves you having to locate it elsewhere, scan it, attach it.... the email feature is great. It runs really smoothly.

Fantastic Cloud software which is affordable

When searching for the right Cloud Accounting provider we found that there was a huge trade-off between price and functionality. AccountsIQ is a very functional system whereby you only pay for the functionality you use. The benefits of Cloud working are immense and easily explained. But selecting the right provider is a challenge. The implementation was excellent and we were helped every step of the way. The system has performed above expectations and as we add more companies we simply call our account manager and pay accordingly. The Consolidation feature means no more messy Excel spreadsheets and costly errors.

Program is best for more advanced accounting personnel

Pros

This software is not user friendly unless you are a little more advanced in your accounting department

Cons

The only con is the ease of use. It has complex functionality which is easier for persons higher up in the accounting department.