Bank reconciliation (5)
Expense management (5)
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- Free/Freemium Version
- Premium Consulting / Integration Services
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ScaleFactor aims to change the way modern businesses operate by automating complex bookkeeping tasks and translating financial information into usable business insights. As a result, the vendor says they are enabling business owners, managers, and entrepreneurs to focus on what they love: running and growing their business.
- Supported: Accounts payable
- Supported: Accounts receivable
- Supported: Cash management
- Supported: Bank reconciliation
- Supported: Expense management
- Supported: Multi-division support
- Supported: Regulations compliance
- Supported: Electronic tax filing
- Supported: Self-service portal
- Supported: Standardized Processes
- Supported: Inventory tracking
- Supported: Dashboards
- Supported: Standard reports
- Supported: Custom reports
- Supported: Plug-ins
- Supported: Single sign-on capability
- Bench Accounting
|Small Businesses (1-50 employees)||99%|
|Mid-Size Companies (51-500 employees)||1%|
|Enterprises (more than 500 employees)||0%|
|Mobile Application||Apple iOS, Android|
- ScaleFactor has been a great resource for me as I got my business off the ground. They have allowed me to focus on marketing and strategy while they handle my Quickbooks and other accounting needs. Great accounting and finance solutions that don't require you to hire an in-house staff
- Presenting data clearly.
- Chatbot not working well.
- Connecting accounts, makes sure statements are always up to date.
- Bulk transactions automatically matched for accounting purposes
- helps keep on top of VAT so there isn't the mad panic every quarter
- Could connect with All saving accounts i.e. Building society saving aswell as major banks.
- When a connected bank or savings account hasn't been used for a month or 2 it could show a 0 transaction to keep it updated rather then saying "last updated 3 months ago"
It supports my need for advanced accounting and QuickBooks software knowledge. Typically an in-house bookkeeper has solid knowledge of either accounting or QuickBooks Online, rarely both. Add in the various other platforms being used and I highly doubt I would find an employee capable of working with all systems while maintaining accounting standards.
- Advanced cloud based systems integration. Able to link up credit cards, banks, expense management 3rd party systems, payroll, etc.
- Flexible in crafting ways-of-working to fit your organization. Not a "one size fits all" approach. Able to tailor your specific accounting and finance solution.
- On-boarding was a bit rocky at first. Our company accounting practices needed some refinement in that they were a bit onerous. This led to some false starts as we worked with the ScaleFactor team to improve our internal processes and reduce the recurrence of custom QuickBooks accounting.
- Software works great with top to mid tier financial institutions. Though lower tier or less advanced financial institutions can be problematic in their ability to port data into ScaleFactor. Not really a ScaleFactor issue, just a call out.
ScaleFactor is great when a company has matured beyond the owner making all accounting and banking entries. As soon as multiple systems are needed, it's likely a decent time to call ScaleFactor. I'm confident my operations could run through ScaleFactor for a long time as the next step for us would be something akin to NetSuite or some other more rigid enterprise solution.
Additionally, our business has a geographically displaced work force, typically working from home. Having access to all systems via the cloud has been great. No longer do we have to pass a specific computer back and forth for a physical computer software license. It's enabled maximum work flow convenience.
- Delivering accurate financials quickly at the close of each month.
- Getting small business's organized and set up for success.
- Providing infrastructure and support at a fraction of the price of in-house talent.
- Need to make sure they strike a balance between automation and hands on service.
- Presenting data clearly with visual aids that are easy to read, modern and attractive.
- One place for all my information, instead of looking at Quickbooks, sales analysis and reports in three different places.
- Seems to be a constant turnover in my team at ScaleFactor, which means a lot of explaining what our business does and needs again and again. And that means a lot of emails, disorganization and phone calls (Taking my time).
- Chatbot doesn't seem to work well. Never answers the questions I'm in need of for a quick answer!