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Pegasus Software, one of the UK’s leading providers of financial and performance management solutions for the small and medium sized enterprise (SME), has launched a new version of its powerful and flexible XRL reporting and business intelligence tool. This latest development has been designed to provide an intuitive, rapid and accurate means of extracting and retrieving financial data from within Sage Line 50.
XRL which is Pegasus’ Excel Reporting Layer creates a dynamic, real-time link between Microsoft Excel and the Sage Line 50 database. It loads the data directly into an Excel spreadsheet enabling users to rapidly review, drill into and interrogate core finance information. Unlike many of the other integration tools available it is live and because it is highly intuitive data is both up to date and easy to access, which will help organisations to better understand company wide performance and improve the speed and accuracy of the strategic decision making process.
Pegasus believes that extending its XRL solution into the Sage Line 50 base is a strategic development which will not only benefit the thousands of Sage Line 50 users but also further extends its market reach, providing new business opportunities for its successful partner community throughout the UK. By selecting XRL Sage Line 50 users can improve the quality and availability of financial and management reports and better understand their performance on a company wide basis, in addition to being able to produce reports which are difficult or impossible in Sage Line 50.
This strategic development has been supported by technology expert David Carter of AccountingWEB who, having had a preview of the software, stated: “At first look XRL seems pretty powerful, but also nice and easy to use. It’s already running on 2,000 Pegasus sites and now it’s moving onto Sage Line 50. XRL potentially could end up becoming an industry standard. “
Gary Turner, managing director of Pegasus, added “For years accounting system users have struggled with complicated and inflexible tools that supposedly make the process of conducting effective financial and performance management easier. In fact they have further complicated this fundamental process. Pegasus on the other hand has always been committed to empowering today’s SME, delivering quality finance and wider management information comprehensively, cost effectively and intuitively. XRL with Sage Line 50 integration is no different. We believe it further strengthens our portfolio, making critical data accessible and available in real time. Users will find that extracting data is astonishingly easy and the advanced tool sets are not only flexible and scalable but enable transactional level analysis which is crucial for effective review of company wide performance. It has been designed to make the process of data management transparent, quick, easy and accurate - to eliminate complexity rather than create it. Indeed you simply select what you need from a series of drop down menus and click. Information is there at your finger tips. It really is that simple.”
With XRL complex management reports can be easily designed, generated at specified timescales and customised to reflect the needs of the business or specific authorised users. Such powerful and straightforward reporting capabilities frees up the time of today’s finance department to focus on actually analysing and understanding key performance indicators.
Turner concluded: “The lack of flexible departmental analysis has always been a frustration for Line 50 users and this sought after capability now comes straight out of the box with XRL. Users also get dynamic cube analysis which enables an organisation to produce and display complex data in any way it chooses. Having imported the data into Excel XRL lets you slice and dice critical information, for example sales by region, product, date, value, department or even by individual salesman in a unified format and crucially in real time which ensures you have the confidence to know that your decisions and planning are based around accurate and up to date information. The comprehensive nature of the data produced by XRL and the speed with which it can be translated into performance reports will assist management and finance teams to identify trends, improve productivity and drive profitability. Quite simply it revolutionises the process of reporting for today’s proactive Line 50 user.”
XRL is already delivering results for many Pegasus customers and among the many satisfied users is the Royal Wimbledon Golf Club. The club’s Nick Nolan commented: “Reports form the basis of everything you put into the accounts system, allow you to get to know your business better and are vital for decision making. The quicker this information can be obtained, the better. Before implementing XRL, we had a concern about the initial set up time and investment, but now the reports are set up, they are here forever. We can access any report at any time within minutes, and it’s certainly been worth the few hours taken to set up the templates. Previously we had to re-key all of the data into an Excel spreadsheet one by one, now with one click of the refresh button; the information is at our fingertips. It’s quick, easy and certainly makes my life easier.”
News Source: Pegasus News