Acterys is currently the only solution that supports large scale enterprise as well as small medium business analytics and planning requirements. The nearly infinitely extensible architecture based on a standard SQL Server environment perfectly caters for either in the most cost effective way.
Up until recently a professional analytics environment around a central data warehouse was based on 5 figure plus budgets. With Acterys’ revolutionary data warehouse automation features this is now available for SMB budgets.
In this overview we are comparing a full data warehouse approach to off the shelf Web Apps in the analytics & planning space cloud based accounting applications (QuickBooks, Xero, Myob).
“Off the shelf” Web Apps
For requirements where users are looking for exactly what the web application offers, they can be a good choice. Particularly, when only better reporting and simple planning with the accounting data are the key objectives and the required process matches the one offered in the app.
As soon as data volumes get higher or other sources e.g. from CRM systems, marketing data (e.g. Google Analytics) and other web applications need to be integrated, this approach comes to its limits, as customization of typically closed off applications -without an API or an externally accessible data storage approach- is more often than not impossible.
Data Model Orientated Approach
In case more comprehensive analytics and planning are required the other option is an “open data model” orientated approach. Here data is loaded from ERP, accounting and other systems in a separate “data warehouse” that is optimized for analytics. This is typically done in a star schema where transaction tables (e.g. GL transactions, invoices, etc.) are combined with shared dimensions (e.g. calendar, products, customers, accounts, etc.) that are used alongside the transaction tables.
This enables users to define the meta data once, for example how time periods or accounts should be organized and mapped and the resulting definitions and hierarchies can then be used with all transaction tables. The beauty of this approach is, that the user is not at the mercy of a vendor. A relational database e.g. SQL Server can be used with nearly any client tool (Excel, Power BI, Qlik, etc., etc.) and also offers the opportunity to integrate the data into custom apps (e.g. with PowerApps and MS Flow)
What Are The Benefits?
The main benefits of an open (i.e. editable by users not in a proprietary format in a closed web app) data model architecture are:
- Much improved performance and scalability as enterprise ready platforms (e.g. Microsoft Azure) are used, with optimal data storage for analysis and simulation
- No limitations on the volume queried due to API call limits per day
- Data structures can be edited as required
- No limitation on adding new data sources
- Flexible client options (e.g. data discovery tools like Power BI, Tableau, Qlik or Excel) not limited to one web application
- Planning & Workflows exactly configurable to requirements
Admittedly, this approach is not for everyone: Users will have to have know how in the required tools (Power BI, Excel, data modelling) or require external expertise to set things up that divert from the standard or involve integration of other data sources.
In the following table we have outlined the main players in SMB analytics and planning add-on solutions for cloud based accounting and their architecture. We are admittedly not unbiased, should any of the information below need additions or be factually incorrect please let us know and we will adapt.
How Spotlight, Futrli, Fathom and Datadear compare to Acterys
|Platform||Live Excel Integration (Read Write)||✔||✔|
|Platform||Data Discovery Support (Read Write)||✔|
|Platform||Any SQL Client||✔|
|Reporting||Power BI Sample Best Practice Financial Templates||Excel (client only)||Proprietary web||Proprietary web||Proprietary web|
|Reporting||Live (read/write) Integration with Excel|
|Reporting||Any client tool that can access SQL|
|Reporting||Visualisation options||200+ via Power BI||Excel||Limited||Limited||Limited|
|Reporting||Option to add custom visualisations||✔|
|Reporting||Pdf Report distribution||✔|
|Planning||Top Down Bottom Up Data Entry||✔|
|Planning||Copying of Scenarios||✔||✔|
|Planning||Configurable 3 Way Financial Logic (Profit & Loss, Balance Sheet, Cash Flow)||✔||✔||✔|
|Consolidation||Inter Company Elimination||✔||✔|
|Modelling||Create Own Multidimensional Models||✔|
|Modelling||Editing of model dimensions e.g. mappings||✔|
|Calculation Language||Dax, SQL, Excel||Excel (client only)||Proprietary||Proprietary||Proprietary|
|Advanced Analytics/AI||Full support for major AI engines (Azure ML, Power BI AI features, Python, r)||✔|
|Benchmarking||Industry Benchmarking e.g. SEC, NASDAQ||✔|
(via Finviews option)
|Collaboration||Commenting||Flexible filter driven||Report driven||Report driven|
|Collaboration||Integration with MS Teams||✔|
|Workflow||Support for MS Flow||✔|
|Backend||Data Storage||Openly Accessible Enterprise Scale Standard Database (Azure SQL/SQL Server)||Excel (client only)||Proprietary||Proprietary|
|Backend||Own Tenant/On Premise||✔|
|Backend||Data Centre Location Choice||✔|
|Backend||API to integrate in own applications||✔|
|Data Integration||One Click Accounting System Connectors for|
|Data Integration||ABC Financials||✔|
|Data Integration||Integration of other ERP (SAP, Oracle, Workday, Sage, etc.) via custom Connector||✔|
|Data Integration||Power Query Support||✔|
|Data Integration||Works with 200+ Connectors via Power BI (Google Analytics, Salesforce, Facebook, etc. etc.)||✔|
|Special Features||Manual Journal Automation||✔||✔|
|Security||Access||Cell based read & write||Per company||Per account|
|Security||Support of Security Standards||Active Directory, Windows Authentication, Microsoft Accounts||Proprietary||Proprietary||Proprietary|
|Pricing||Starts at pricing per company per month (USD)||$29 (Package of 10)|
$49 (single company)
|$20 (4 companies)||$29||$49||$25|