Merit Matters Blog - Microsoft FRx

Consolidating Disparate Sources of Financial Data with FRX

nospam@example.com (Brent) — Tue, 17 Feb 2009 11:58:40 -0500

Just bought some distressed companies? Need to consolidate their financial data? How in the heck are you going to consolidate reporting when one company keeps their books on Excel and another in Dynamics AX, and two more use Dynamics GP? On top of that, they all have different chart of accounts structures!

The answer: Microsoft FRx. Naysayers will talk about how old Microsoft FRx is, and how modern reporting tools are so much better. However, to date, nobody else - including Management Reporter, Microsoft’s supposed successor to FRx - have managed to make this scenario doable for an end-user.

The secret is in Microsoft FRx’s unique tree functionality. Anybody can roll up apples to apples. If you have five companies in Dynamics GP, and they all have the same account numbers, it’s a slam dunk. But when you are rolling up apples to oranges, you want to use FRx’s row linking functionality. By allowing units of the tree to actually report not only directly on accounting data sources but also on data from spreadsheets and other units of the tree that use different row formats, Microsoft FRx won’t even break a sweat when 1100-000-123 is cash in one company and 115806-86722-555-444 in another.

Look at this visual representation of how Microsoft FRx rolls up financial data from three separate companies:

So, the above picture should give you an idea of how Microsoft FRx pulls this information together. Though my drawing leaves out some minor details and might leave you with questions such as, "How does Microsoft FRx know what column in the spreadsheet contains my numbers?", you can see that what FRx basically does is report on reports, not just GL sources. It was years ahead of its time, and for end-user and consultant ease of implementation for complicated enterprise consolidation reporting, still is.

If you have FRx or other financial reports that have seen their better days, or you feel like you are working around your financial reporting tools, let us know how we can help you.

Microsoft FRx Reporting Services

nospam@example.com (administrator) — Wed, 27 Aug 2008 08:00:00 -0400

Do you have Microsoft FRx but are not using it at all? Are you looking for help improving your financial reporting? Do you even know how to use FRx to begin with?

Merit Solutions can help with all of your FRx needs. We have a great deal of experience helping users meet their reporting and analysis needs using Microsoft FRx. We can help your business with:

Set up, installation, and configuration of FRx
Report writing
Training (at our facility, or at yours)
Reporting distribution
and more!!

Act now, before September 30, 2008, and receive a 10% discount on any FRx Reporting Services.

FRx Demo Lab

nospam@example.com (administrator) — Wed, 23 Apr 2008 12:21:55 -0400

Dave found this and I thought I would pass on the information: Microsoft FRx Demo Lab.

This is a great way to test out Microsoft FRx using a hosted virtual lab. This lab will provide demonstration versions for Microsoft FRx 6.7 and Microsoft Forecaster 7.0. This hands-on lab walk-thru runs within your browser and requires nothing to install (although it does require registration).

Enjoy!

Top 10 Financial Accounting Mandates

nospam@example.com (administrator) — Mon, 21 Apr 2008 10:13:00 -0400

Today's guidelines for financial reporting call for the highest possible level of accuracy, speed, and competency. Here are the top ways to meet the demands of a new reporting era, and how Microsoft Dynamics FRx can help:

1. Guarantee corporate integrity by ensuring consistency with numbers and transparency across the organization. This includes finding ways to facilitate the gathering and reporting of accurate information.

2. Promote greater collaborationand communication among different departments, putting an end to the "silo" mentality that keeps data in separate places and prevents applications—and people—from sharing up-to-date information.

3. Increase business insight inside the company, so virtually any employee can identify a mistake or questionable activity before it becomes a major issue.

4. Provide better information management by ensuring that everyone involved in the company's governance processes is knowledgeable and informed. This includes enhancing the board’s understanding of how the company reports financials (that is, what the numbers mean and what metrics are supported by the numbers).

5. Empower your employees with a heightened responsibility for detecting and correcting financial reporting anomalies, inaccuracies, and omissions.

6. Improve relationships with investors by providing a better picture of non-financial performance in areas such as productivity levels, operational quality, overhead, customer satisfaction and loyalty, work-force loyalty, the level of innovation within the company, the value of its brand names, and more. Ideally, CFOs will gain greater business insight into what interested parties really want to know and then articulate that information to them, helping to build credibility while maintaining control over strategic information.

7. Install a tighter system of checks and balances to reduce the chance of errors. Maintain accuracy and integrity in an environment where shared responsibility requires additional controls.

8. Empower budget-makers with technological tools that help increase their budgeting/forecasting accuracy.

9. Implement financial software to help strengthen controls within business units.

10. Improve collaboration with investors by communicating consistently and frequently.

Benefits of Microsoft FRx

nospam@example.com (administrator) — Fri, 18 Apr 2008 12:06:22 -0400

Microsoft FRx gives companies a highly responsive reporting system to help increase your confidence in the accuracy and timeliness of your data. You'll also help improve overall operational efficiency by accelerating insight, analysis, and decision-making.

TimesaverGive your people access to the right information on a scheduled basis or on-the-fly. Microsoft FRx helps different levels of management prepare quick and accurate financial reports, giving them extra time to test assumptions, perform what-if scenarios, and experiment with different reporting structures. Close books faster and quickly distribute information tailored to the needs of your staff. Distribute financial reports quickly and easily. You can also use Microsoft Outlook to save time and money by eliminating the need to print, copy, and distribute hardcopy financial reports.

Ease of use
Microsoft FRx helps improve management’s workload by providing easy-to-understand reports that make financial analysis and tracking simple and clear. With Microsoft FRx, your people can define, generate, view, distribute, and manage financial reports from their desktops with little or no help from technical staff. Consumers of the information can answer their own questions by "drilling down" on information, all the way to the transaction detail level.

Low total cost of ownershipProviding reporting and analytics software that works with systems you already use to help your people work more effectively will help ensure a quick return on your IT investments. Microsoft FRx not only extends the life of older but functional accounting systems but also easily adapts to changes such as corporate restructuring, mergers, and acquisitions.

See more Microsoft FRx Benefits