Financials for Office 365 has helped Agentis save a huge amount of time in the creation of financial statements.
Alex Richard Herrara, President of Agentis IT
Agentis IT Inc. is a thriving IT enterprise based in Quezon City, Philippines. The company specializes in delivering IT solutions, web development and financial consultancy services to its growing list of clientele – particularly micro, small and medium enterprises (MSME), cooperatives, social enterprises and non-government organizations. In its goal to improve its services, Agentis IT Inc. partnered with Microsoft Financials for Office 365 to produce an automated and integrated process for the preparation of financial statements of their customers.
Preparing financial statements is important for every business in sound business decision making. More importantly, financial statements are mandatory requirements by regulatory bodies such as the Securities and Exchange Commission (SEC) and Bureau of Internal Revenue (BIR).
Included among Agentis’ specialties is the preparation and presentation of financial statements to independent third party clients. For this, Agentis employed a laborious manual system that only involved Microsoft Excel files for gathering, collecting and summarizing data needed for the reports.
As Alex Richard Herrera, President of Agentis, pointed out, the manual system was difficult to use and outdated. “We had a hard time coping with business compliances particularly with the FS requirement of SEC,” Herrera expressed. As a result, the financial reports were produced inefficiently and submission delays became unavoidable.
Agentis IT wanted a more complete financials solution for their services. They took on Financials for Office 365. The automated accounting system allowed for seamless bookkeeping – including processes for invoicing, purchasing, payable, basic inventory, fixed asset, bank reconciliation and general ledger. With Financials for Office 365 at hand, Agentis was now able to provide and update data readily and regularly, allowing for up-to-date financial reports for their clients’ business and compliance needs.
"Financials for Office 365 has helped Agentis save a huge amount of time in the creation of financial statements" Herrera affirmed. "Gone are the days where we are rushing to create the reports before the deadline, as it is so quick to pull reports in the new system."