Product News: Workiva helps City of Rochester organize CAFR process

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Workiva helps City of Rochester organize CAFR process

Workiva has snagged the the city of Rochester, N.Y., as a client. The city government will be using Workiva's Wdesk software to improve its Comprehensive Annual Financial Report process. Prior to using Wdesk, Rochester’s deputy director of finance Rosiland Brooks-Harris and her team built the city's narrative report separately from its spreadsheets and added most of the information manually, which involved collecting between 80 and 100 documents from nearly 10 departments. According to Brooks-Harris, Wdesk has helped her team bring the CAFR into one, unified document, and saved them time.

IBS’ Imperium Powered by Acumatica deploys system upgrades

Integrated Business Systems, a real estate technology company, has deployed updates to its property management and accounting system, Imperium Powered by Acumatica. Version 2.1 of the cloud-based software also achieved the Acumatica R2 certification, the latest quality endorsement from IBS’ strategic partner. Imperium version 2.1 includes updates to accounts payable, lease administration and reporting suites. For more information, click here.

New credit app Summed launches

Summed, a San Francisco-based financial services startup, released its first product this week. The Summed app is a financing and payments service that positions itself as an alternative to credit cards. Summed lets users, who can be consumers, solo practices or small businesses, split large purchases into smaller payments through simple financing that connects to their debit cards. Users are subject to interest rates, but Summed claims the rates are up to 50 percent lower than those provided by credit card companies. There are cash-back rewards, no fees and fixed repayment amounts. The company compares its app services to mini personal loans.

Summed can be used wherever debit cards are accepted, online or in stores, as users are essentially using their debit cards in connection with a short-term loan.

They choose the repayment schedule and know how much they’ll owe each month. Then the funds are immediately available on their debit card, which they can use to make the purchase, avoiding credit card debt.

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