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Numeric Reviews: Features, Services, Use Cases, Pricing & Alternatives
Are you tired of spending endless hours on tedious accounting tasks, only to double-check everything before closing the books? That’s where Numeric steps in—a game-changer for anyone looking to streamline their accounting processes. Whether you’re managing month-end close or trying to keep up with reconciliation, Numeric brings the power of AI to transform how you work.
What is Numeric?
Numeric is an AI-driven accounting tool designed to automate and simplify the month-end close process for accounting teams. It streamlines critical financial workflows such as reconciliation, flux analysis, and financial reporting. With Numeric, you can wave goodbye to manual data entry and hello to efficiency and accuracy.
Key Features of Numeric
- AI-Powered Automation: Handles repetitive tasks like journal entries and financial reporting with ease.
- Smart Subledgers: Automates posting adjustments and keeps subledgers up to date.
- Flux Analysis Tool: AI-driven insights that help draft flux explanations faster and more accurately.
- Integrated Reporting & Analytics: Automatically pulls data from ledgers, generating comprehensive reports.
- Technical Accounting AI: Drafts policy memos and technical documents according to the latest standards.
How to Use Numeric
Using Numeric is simple once you’re set up. Here’s how:
- Onboard your data: Integrate your ERP or accounting system.
- Automate tasks: Let the AI handle journal entries and subledger maintenance.
- Perform flux analysis: Use the tool’s insights to quickly draft explanations.
- Generate reports: Pull from your general ledger for audit-ready financial reports.
Pricing Plans for Numeric
Pricing for Numeric is flexible but typically follows a contact-for-pricing model. The pricing varies depending on your team’s size and needs, but you can start with a free trial to test the features.
Specifications
| Feature | Details |
|---|---|
| Language Model | AI-based automation and analysis |
| Security | End-to-end encryption, GDPR compliance |
| Best Features | Flux analysis, subledger automation, integrated reporting |
| Major Drawback | Initial learning curve for AI tools |
| Customer Support | Email and live chat |
| Price | Contact for pricing |
| Free Trial | Yes |
| Free Version | No |
| Refund Policy | Available on a case-by-case basis |
| Overall Best For | Mid to large accounting teams |
Pros & Cons of Numeric
Pros
- Boosts efficiency by automating manual accounting tasks.
- Increases accuracy with AI-driven analysis and reporting.
- Scales easily to meet growing business demands.
- User-friendly interface that integrates with ERP systems.
- Flux analysis tool simplifies explaining financial fluctuations.
Cons
- Initial setup and training might take time.
- Customization options are limited for early adopters.
- Dependency on integration quality for optimal performance.
What Makes Numeric Unique?
What sets Numeric apart from other accounting software? The combination of AI-native features and deep integration into the financial lifecycle makes it stand out. The flux analysis tool and technical accounting AI are cutting-edge features you won’t find in most traditional accounting software.
Compatibilities and Integrations
- ERP Integration: Seamlessly integrates with systems like Netsuite.
- Excel Compatibility: Links and syncs data for smooth reconciliation.
- API Support: For custom integrations and flexibility.
- Cloud-Based: Access it from anywhere with robust security.
Who Should Use Numeric?
- Mid to large-sized enterprises: Needing fast, scalable financial management.
- Accounting firms: Managing multiple clients and complex accounts.
- Financial controllers and CFOs: Looking for greater visibility and control.
- Tech-savvy accountants: Ready to embrace AI-driven workflows.
Tutorials for Numeric
Need help getting started? Head to the Numeric Learning Center, where you’ll find a variety of tutorials that walk you through the setup process and advanced features.
Similar & Alternative Tools
- QuickBooks: Popular for small to mid-sized businesses, with excellent reporting features.
- Xero: Ideal for managing finances and invoicing on the go.
- Zoho Books: Streamlined for small business owners.
- FreshBooks: Best for freelancers with its simple interface.
- Sage: A comprehensive tool for mid-sized and larger businesses.
Comparison: Numeric vs. QuickBooks
| Feature | Numeric | QuickBooks |
|---|---|---|
| AI Automation | Advanced | Limited |
| Flux Analysis | Yes | No |
| Subledger | Automated | Manual |
| User Interface | User-friendly, modern | Traditional, less intuitive |
| Scalability | Excellent for large teams | Best for small to mid-sized |
How We Rated Numeric
- Accuracy and Reliability: 4.8/5
- Ease of Use: 4.6/5
- Functionality and Features: 4.7/5
- Performance and Speed: 4.9/5
- Customization and Flexibility: 4.3/5
- Data Privacy and Security: 4.5/5
- Support and Resources: 4.4/5
- Cost-Efficiency: 4.6/5
- Integration Capabilities: 4.7/5
- Overall Score: 4.65/5
The Team Behind Numeric
The brains behind Numeric include finance professionals and AI engineers who understand the pain points of traditional accounting workflows and aim to solve them with cutting-edge automation.
Summary
Numeric is a powerhouse for accounting teams looking to automate month-end close processes and streamline financial workflows. Its AI-driven features not only save time but also boost accuracy, making it a valuable asset for modern finance departments.
FAQs
What is Numeric, and how does it work?
Numeric is an AI-powered accounting tool designed to automate repetitive tasks like reconciliation, flux analysis, and reporting, ensuring faster and more accurate financial closes.
How much does Numeric cost?
Pricing for Numeric is available upon request, and they offer a free trial to explore the features.
What can Numeric do?
It automates journal entries, subledger management, financial close processes, and provides detailed flux analysis with integrated reporting.
Is Numeric still worth the time and money?
Yes, especially for mid to large-sized enterprises looking for efficiency and accuracy in financial management.
Is Numeric free or paid?
Numeric operates on a subscription model, but a free trial is available.
What’s the verdict on Numeric in Reddit reviews?
Users on Reddit appreciate Numeric’s efficiency but note the initial learning curve with the AI features.
Does Numeric come with an API?
Yes, Numeric provides API access for custom integrations.
Is Numeric a mobile app or a desktop application?
Numeric is primarily a cloud-based platform, accessible from both desktop and mobile devices.
Last update: 6 September, 2024
