Tech News: Lightyear releases Advanced Reporting Engine

Published August 19, 2022 9:11 AM

Updated August 19, 2022 9:36 AM

1 Min Read

Lightyear releases its new Advanced Reporting Engine; FinancialForce's Summer 2022 release introduces "services-as-a-business" approach; and other news from the accounting technology world.

Lightyear releases Advanced Reporting Engine

Lightyear, a purchasing and accounts payable automation provider, released its new Advanced Reporting Engine, which leverages financial data already captured within the Lightyear Procure-to-Pay platform. Features of this engine include a custom report builder; line item reports; grouped spend analysis by supplier, general ledger code, tracking category and goods purchased; a new suite of purchase order and goods received reports, including line item breakdown; and new filtering options that allow users to drill down into granular data sets. The engine is available to all Lightyear customers.

FinancialForce launches Summer 2022 release

Cohn, Michael

Cloud ERP solution developer FinancialForce announced its Summer 2022 release, which introduces a new "services-as-a-business" approach. Among other things, the new release allows resource managers to distinguish skills related to open roles as either "Essential" or "Desirable," and allows the consideration of weighted preferences in resource assignment rules. Further, the release offers several dashboards, including one that monitors utilization performance and staffing efficiency, a revenue forecasting dashboard, and a project burn-up dashboard. It also provides new role configurability features, including role templates, role grouping and skill requirements; features end-to-end intelligent transaction matching to streamline reconciliation procedures; and allows revenue managers to see all revenue to be recognized in a single view. Financial planning and analysis teams will also have access to headcount planning at the resource level for financial planning and analysis teams, as well as a new planning workspace where they can view key budget information and actions all in one place.

Partnerships and integrations

Payment software provider AvidXchange announced a new integration with cloud fund accounting solution Blackbaud Financial Edge NXT on its AvidConnect platform. The new integration enables automatic syncing of GL codes, vendor lists, invoices and payments between AvidSuite, which includes AvidInvoice and AvidPay, and Blackbaud Financial Edge NXT. … CPACharge announced a new partnership with the National Association of Enrolled Agents. The partnership allows NAEA members to access CPACharge and all associated benefits available from the online payments solution provider.

Awards and recognitions

Boomer Consulting

honored three individuals with its annual "Bridging the Gap" award, which recognizes excellence in alignment between technology and firm management. Winners this year include Bill Dunton, managing partner at Abacus CPAs; Brian Davis, chief information officer at Jackson Thornton; and Joshua Kirk, chief technology officer at Smith + Howard CPAs and Advisor. ... Wolters Kluwer Compliance Solutions won eight awards in the 2022 Golden Bridge Awards, including four Gold-level wins in product innovation categories for excellence in regulatory change management, compliance program management, lien and title management, and compliant bank document generation offerings. … SAP SE announced it has been named a leader in the 2022 Gartner "Magic Quadrant for Digital Commerce" for the eighth time based on its SAP Commerce Cloud solution.

Other news

Business intelligence and accounting software provider Bookkeeper360 announced the completion of its seed capital raise round, getting $3.5 million from new strategic partners, customers, and previous investors of Bookkeeper360, who also are angel investors of Etsy.com. … SAP SE announced the sale of its Litmos learning solution to Francisco Partners. The transaction is expected to close in the fourth quarter of 2022 and is subject to customary regulatory clearances. Financial terms were not disclosed. … Accounting and technology firm TJS Deemer Dana LLP and Vertisys LLC announced a name change to the much shorter "Symphonia." The name is meant to represent different elements working together in concert. Managing partner Ken Wood said in a statement that it was also to unite its wholly owned subsidiaries into one company name. ... Airbase, which offers a spend management platform, announced the appointment of Philip Lacor as its chief revenue officer. He will lead the company's sales, customer success, marketing and business development teams, and consolidate efforts to accelerate growth in the mid-market and enterprise sector