As FRx is breathing its last breaths, so is the reporting functionality for today’s companies. Reporting solutions are on the market to truly enhance Excel and deliver sub ledger reporting with drill-down and drill-to capabilities for informed decision-making. Departmental, organization-wide, or even project reporting are important functions now as the development of an organization relies on its capability to evaluate business data.
Microsoft retired FRx, the old report writer, and they replaced it with Management Reporter (MR). However, MR has been more of an update or replacement than an upgrade, besides some more modernization of the user interface – and after decades of FRx, an upgrade is overdue, but how much will it cost? This article will demystify the investment of a report writer and the return on that venture.
Reporting solutions have been trending upward lately in response to consumer needs for secure, business user friendly, enhanced reporting. There are plenty of Excel add-in report writers, meaning that the financial team’s trusted spreadsheet application is simply accelerated for added functionality while remaining easy-to-use. Additionally, accounting and business logic power today’s reporting tools, allowing for automation and reusable templates.
Some detractors of Excel-based reporting options claim that Excel is broken when it comes to securely linking spreadsheets. These critics are typically selling proprietary interface report writers, and sometimes, web-based. However, Excel-based solutions are actually built in a consumer-driven response to security and collaboration being a leading value offering. Excel add-in reporting solutions don’t necessitate that a business user to absorb a whole repertoire of forms, functions, and methods to running a proprietary software, whether it is on the web or not. Moreover, there are options for web-based reporting that are powered by Excel, allowing for accessibility, with reporting via a mobile application also gaining in popularity. There are several choices for current, intuitive financial report writers on the market, built with the business user in mind.
At this point, most want to know, “How much would this cost me?” Pricing a financial report writer can be sectioned into the cost of software, implementation, annual support and maintenance fees, and personnel cost.
The cost of software can be a direct acquisition, which is a one-time price, or it can be a Software as a Service (SaaS) solution, where the consumer essentially leases the software, and it is staged in the cloud or in-house. Direct purchase cost ranges from $3,000 to $10,000 up to a $30,000 - $50,000 range or more at the higher end. If attracted to SaaS solutions, it will usually run from a few hundred dollars per month, up to $5,000 a month, depending on the number of users. In terms of breaking even for SaaS versus a direct purchase, it is usually a few years, but SaaS tends to become the more costly option after that.
To continue learning more about what to understand about the costs of FRx replacements, read the rest of this article at
by Solver, Inc.