" class="no-js "lang="en-US"> FDs to benefit from Cloud CFO with new Managed Service from Synapse - Fintech Finance
Friday, September 30, 2022

FDs to benefit from Cloud CFO with new Managed Service from Synapse

“New service will release capacity in the finance function so the focus can be on higher level activities”

Synapse Information today announced that it is introducing a new managed service that will make it easier for businesses to implement its’ flagship product, Cloud CFO, and solve the problem of group financial consolidation and reporting. The managed service has been set up with partners, QR3, to help Finance Directors who do not have the time to implement the Cloud CFO solution themselves.

Cloud CFO is an innovative solution, which combines the simplicity of the familiar spreadsheet interface with the power of an Oracle database.  By connecting spreadsheets to the Cloud, the whole process for Group Company Financial Reporting is made easier, more accurate and more flexible and every member of the finance team gains access to real-time data. The finance team can continue to enjoy the simplicity and comfort of using a spreadsheet at the ‘front end’ with a connection to a very complex cloud ‘back end’ that does all the difficult work. This eradicates the problem of keeping a complete track of every change made to every spreadsheet cell by every user at every point in time since document inception. This is invaluable for forensic audit and for industrial grade security and eliminates all of the risks.

Synapse can now either deliver the Cloud CFO solution as a stand-alone unit or provide the customer with a qualified accountant supplied by partner QR3 to manage the implementation internally.  As the service is managed by Synapse, businesses can be confident that they are dealing with a single supplier that understands the Cloud CFO solution in depth.

We’re delighted to give our customers more choice by offering a managed service with our expert partner, QR3,” says Brian Donnelly, CEO, Synapse. “This new service allows businesses to rapidly innovate while all the hard work is done for them.”

Matthew Broadbent, Chief Executive, QR3 says: “We are looking forward to working with Synapse as we believe that this venture gives time-poor FDs the chance to achieve access to real information in real-time. The managed service gives businesses the potential to release capacity in the finance function so the focus can be on higher level activities while achieving major cost and time efficiencies.”

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