Accounting
New Online Accounting System Launches for Small Businesses
FINSYNC combines financial management and accounting software services with built-in business intelligence to create a virtual CFO for small business owners.
Feb. 21, 2014
After two years of development, Atlanta-based FINSYNC has launched a new online accounting system for small businesses. The program of the same name includes built-in features for invoicing, inventory management, bill payment and payroll processing, all integrated with the main accounting, general ledger and financial reporting.
The program was designed from the ground up, because businesses weren't finding what they needed in other programs, according to FINSYNC CEO Tucker Mathis.
“Effectively run businesses need the right information at the right time and quick access to cash and credit,” said Mathis, FINSYNC, CEO. “In 2011 we saw many businesses struggling to obtain timely financial results and metrics resulting in problems costing time and money. There were opportunity costs involved as well; banks weren't lending to businesses with untimely and inadequate financial statements.”
“The problem wasn't a shortage of options for accounting software; the problem was accounting software wasn't designed for a business owner / CEO. Accounting software, as we knew it, was an amalgamation of different parts that didn't communicate easily with one another. This often pushed the typical CEO to outsource data entry and bookkeeping. When it came time to make a decision about new inventory, increasing a customer's line of credit, hiring new employees, or borrowing money, the CEO became dependent on third party reports, which rarely came on time and with meaningful metrics and forecasts.”
FINSYNC gives users a view of real-time financial results and uses built-in business intelligence to drive actionable insights that help CEOs “make better, more timely and more profitable business decisions”.