Powerfull flexible platform

Symfio is a solution for any company that recognizes the importance of financial management and aims to use the most appropriate approach – through automated processing of accounting data in the cloud.

Companies with 15 or more employees will appreciate that everything works automatically and from one place. It allows their employees to focus on the numbers and welcomes a helping hand with overseeing their accounting data.

For larger companies with their own finance department, it helps that they can eliminate most of the Excel files and email forwarding. Management will have current data for decision-making always available. The possibility to add new reports or data sources is virtually unlimited.

The monthly fee for the basic version for small businesses is cost-effective for any smaller company with growth ambitions because it makes sense for every company to eventually switch to reporting based on accounting data.

Every company inherently generates accounting data. It integrates invoices, payments, and employees. By correctly adhering to the accrual principle, expenses and revenues are accounted for in the correct periods. This data is processed by a trained professional (accountant), reported to the financial authority, and is the standard basis for tax payments, financing, or profit-sharing within the company.

Broadly speaking, accountants fall into two categories – those who cooperate and embrace the use of accounting data for reporting purposes, and those who fulfill their legal obligation for financial statements and then disengage.

If you’re unsure whether your accountant will work well with Symfio, please contact us at help@symfio.app (ideally provide your company ID and accountant’s contact), and we will connect with your accountant to determine if they are compatible with Symfio.

The foundational element of reporting is accounting data, particularly the general ledger. Through it, you gain a thorough insight into your company’s past. Another essential component is the forecast, which is already integrated into the Symfio solution. It practically estimates the development of revenues and expenses in the same format as your accounting. This continuity makes your time series analyses and plan fulfillment easier. On the same basis, you can add plans for investors or an annual budget for managers.

A key advantage of Symfio is the ability to connect any data source, such as CRM, timesheets, project management, or anything custom like Google Sheets, Airtable, or on your own server. These integrations are tailored for each client based on our standard hourly rate.

Yes, the app has two basic roles, admin and viewer (more will be added over time). Some users have the right to edit everything, while others can only view. In reporting, it’s possible to link viewing rights to certain accounts, departments, or dashboards. Viewing rights are tailored for each client based on our standard hourly rate.

Updates are carried out automatically every night in all modes. In Full and Enterprise modes, it is additionally possible to update data sources up to 5 times a day. The duration of the update depends on the volume of data contained in the reporting unit, but it usually ranges from a few seconds to a few minutes.

It’s crucial, and we constantly emphasize, that the company always has at least one internal competent person who can work with accounting data. . This person could be a founder with a financial background, CFO or manager, controller, or a senior internal accountant with a focus on reporting.

Also essential is having a quality accountant who supports the use of accounting data for strategic decision-making.

Furthermore, if financial operations staff are involved in the process, they should be adequately trained. Such trained colleagues can then help with document collection and categorize them managerially at the entry point. They can also subsequently ensure the completeness and timeliness of the materials provided to the accountant (Symfio facilitates these processes and can also be used for controlling).

Symfio is designed to ensure that plans and forecasts can always be easily evaluated and analyzed. This means that the more detailed the plan, the more accurate it is, and the easier it is to identify specific deviations from it. The categorization of individual planned items can be done at the level of high-level categories (Revenue, Gross expenses, etc.), managerial dimensions (Departments, Projects, etc.), and/or the name of the counterparty (company, contractor, employee). It is important to understand the categorization of data in accounting to create a plan that extends accounting into the future.

The goal of planning and forecasting in Symfio is not to offer flexibility, complexity, and interconnection of complex models, as is the case with Excel. Although we understand that this is important in some cases, for financial planning, we consider the ability not only to create a plan but also to work with it afterward as fundamentally more important. Therefore, instead of creating complex plans in Symfio, we allow for their simple copying from Excel, which is still more suitable for this purpose.

Our financial reporting philosophy primarily relies on a straightforward methodology (one account = one category or one department = one category). This approach promotes transparent logic, easily understandable and graspable by all involved in the financial process. If financial reporting requires a more complex methodology (generally not recommended, but sometimes suitable), building a custom reporting solution might be more advantageous.

Symfio can incorporate virtually any data source, create any dashboard, and display selected data without limitations. However, customization has its costs and time requirements. If such demands become frequent, having an internal data team might be a better solution despite the significantly higher cost.

For all software that allows data export to Excel, which we currently don’t support, we enable data upload from Excel. It’s simple; just map the columns to our required structure.

However, if you’re using accounting software that we currently don’t support and you think we should, please write to us at help@symfio.app, and we’ll look into it.

• Secure API and Communication: We use Next.js to create secure API interfaces, ensuring all communication between client and server is encrypted and protected from eavesdropping and attacks.
• Protection against XSS and CSRF: We implement measures against cross-site scripting (XSS) and cross-site request forgery (CSRF) attacks, enhancing our application’s security.
• Regular security auditing: We conduct regular security audits and updates to ensure our application complies with the latest security standards and practices.
• Incident response: We have a system for rapid response to any security incidents, ensuring continuous protection of your data.
• Compliance with GDPR and other standards: We are fully compliant with GDPR regulations and other international standards, ensuring your data is processed and stored with the utmost care and responsibility.