NE BUSINESS BUREAU
CHENNAI, JUNE 29
Thinksynq on Wednesday announced the launch of latest software for start-ups that have grown beyond the early stages and is – thinknumbers, that helps to design a company’s Financial and Operational Reporting needs in standard and customized formats. thinknumbers is a software to take care of all your financial and operational reporting needs. It is the perfect reporting tool which plugs in seamlessly to several Financial Accounting Systems with ready-made plug-ins available for Tally, Quickbooks and custom adapters to be built for SAP etc, says a senior official of the company.
With thinknumbers, you can design your own reports and dashboards in a matter of minutes and you can access all your reports at the touch of a button. This helps in integrating all your financial and non-financial data in minutes, tracking actual against plan and against previous periods with the tool even enabling a collaborative review of the data. It provides multiple cuts of your Financial Accounting System data and built-in controls at every stage. This ensures that new account heads are not left out in the reports, data is frozen upon uploading and direct integration for direct import from FAS. thinknumbers uses only industry standard encryption for data traversing, with TFA-based access control. With SOC1 and SOC2 certification, your data is protected for cloud-based operation.
- With thinknumbers, you can design your own reports and dashboards in a matter of minutes and you can access all your reports at the touch of a button
- With SOC1 and SOC2 certification, your data is protected for cloud-based operation
- Time spent for creating charts and graphs in Excel with output from Tally and Quickbooks is eliminated because thinknumbers helps to handily view all the data either in the form of charts or tables.
thinknumbers removes many current pain points for finance professionals in start-ups who cannot take for granted the support systems and custom softwares that are available in larger organizations. thinknumbers eliminates manual errors in report generation done every month as the reports are designed only once. There is always a need to do outside-the-book adjustments to factor in events that are not recorded in the Financial Accounting System. This is managed through a controlled environment in thinknumbers. The basic financial accounting system allows only capture of the financial data whereas thinknumbers helps to capture both financial and non-financial data for better analysis of data. Time spent for creating charts and graphs in Excel with output from Tally and Quickbooks is eliminated because thinknumbers helps to handily view all the data either in the form of charts or tables. In the manual report generation process, the same information is presented in different reports at different points in time and therefore can be inconsistent. thinknumbers ensures single version of truth as all data elements are from a single database. Downloaded source data is stored in excel sheets and goes around to people on emails. In thinknumbers, your source data is in one place and most secure.
While releasing the product, K Krishnan, Managing Director of Thinksynq said: “The finance and accounting professionals in start-ups have long been in need of a tool that would help them be responsive to their business in real time even as they carry the onerous and utmost responsibility for double/triple-checked accurate and secure data. Since they do not have the support systems and custom software available in larger organisations, they spend enormous time burning the midnight oil for putting together reports for business. thinknumbers releases their time productively for analyzing and interpreting the data for the business. With thinknumbers, they can do all this – deliver smart, customizable and visually intelligent reports that get ready in minutes at the touch of a button and accessible anytime from any place with zero discrepancies ensuring one version of the truth all the way.”
“What’s more is that the basic financial accounting system allows only capture of the financial data whereas thinknumbers helps to capture a correlated and integrated view of both financial and non-financial data for better insights. With this unique ability to combine operational KPIs and Financial numbers, thinksynq is the ideal assistant to the CXOs in start-ups that have begun to scale. The dependence on the finance team or a dedicated analyst is significantly reduced with this automation. This is the product that the industry has been waiting for. Not anymore!,” added Krishnan.
From the horse’s mouth
Dr GV Sampath – Managing Director, Naruvi Hospitals – a multi-speciality large hospital start-up: “Ours is a complex operation setup as we are a hospital with multiple departments. The nature of our business demands that our reporting has to show both financial and operational data in correlation. So, getting our reports prepared used to take a lot of time. After automating our reports preparation through thinknumbers, we are getting an integrated view of operational and financial numbers for both overall and department wise across the board.:
Jitendra Dubey, CFO, EM3 Agri Services – A marquee funded Agri-mechanization start-up: “Manually working on reports means creeping in of some inadvertent errors and a need for one person in the finance team to certify a report before a senior management person can look at it. In thinknumbers, this validation is built in and once reports are published by the finance team, additional reports from the same source need not be validated subsequently. This is not only a huge time-saver but also a huge reassurance that my management is seeing the right data, every time, on demand.”
