- 7 January 2004 12:16
Business intelligence tool lets accountants take control
Technology One has responded to a glaring gap in the financial software market and built a powerful business intelligence tool specifically targeted at accountants.
The tool, called XLOne, allows accountants to take total control of their financial reporting by combining their existing knowledge of Microsoft Excel spreadsheets and providing direct ‘read only’ access to Finance One, Technology One’s financial management system. XLOne allows accountants to produce detailed financial reports with drill down capability and distribute this information through their existing email infrastructure. One of Australia’s fastest growing councils, Maroochy Shire, is having dramatic results using this tool.
Maroochy Shire Council Systems Accountant Dorothy Williams said prior to implementing Finance One, reporting was a very cumbersome task.
"I used to have to do a lot of things through SQL to extract data out of our system," Ms Williams said.
"Now I'm able to add a lot more value to the organisation by doing more complex type reporting and compliance reporting and things that are more important to our core business," she said.
"Implementing this tool is one of the best investments we have made at Maroochy Shire Council."
The key benefit of XLOne is it empowers accountants to design and develop detailed reports using their existing knowledge of Microsoft Excel spreadsheets. As this is an environment they are comfortable and experienced in using, it reduces the need for training and their reliance on IT and admin support.
Technology One Executive Chairman, Adrian Di Marco, said this business intelligence tool is enabling accountants to respond quickly to the demands of managers and users for financial information.
"We realised that accountants spend most of their day working with in a spreadsheet environment, so it made sense to build a business intelligence tool that connected their financial information with spreadsheets and gave them complete control over the reporting process, " Mr Di Marco said.
"For accountants, this means they can use their intimate knowledge of spreadsheets, including the power of a spreadsheet's formatting and calculating capabilities, to design reports and then populate them with data direct from their financial information system and distribute them with the click of a button," he said.
"This is allowing accountants to cut out the manual processes and concentrate on adding value to their core business.
“The majority of our Finance One clients are now using XLOne.”
About Technology One
Technology One is one of Australia’s largest publicly listed software companies. Its focus is the design, development, implementation and support of powerful, enterprise wide software applications using Client Server, Internet and eBusiness technologies for the corporate and government sectors.
In particular, Technology One delivers totally integrated, powerful enterprise solutions developed to meet the specific requirements of vertical markets, including: Financial Management and Accounting (Finance One), Higher Education and Universities (Student One), Retail (Retail One), Wholesale and Distribution (Sales One), Human Resource Management (People One), Local Government (Proclaim One).
Technology One also provides large scale, fixed time, fixed price custom software development services through its Project Services Group to meet the exact requirements of a specific customer, using Internet, eBusiness and Client Server technologies. Technology One employs approximately 300 staff in Australia, New Zealand and Malaysia.
Contact Details Adrian Di Marco, Executive Chairman, Technology One Phone (07) 3377 7300
Stephanie Wilson, Public Relations Consultant, Technology One Phone (07) 3377 7518, Mobile 0405 133 871