Axiom has completely transformed our budgeting process
November 10, 2021

Axiom has completely transformed our budgeting process

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Axiom Software (formerly Axiom EPM)

We use Axiom for all of our internal Financial Reporting, Budgeting, Forecasting, and Organizational Profitability including FTP. The FP&A and Accounting Departments use Axiom on a daily basis for Financial Reporting and daily custom ad hoc analysis. We do have many users with a limited license which allows them to view reports in Axiom but limits their ability to save data or make any changes in the software. Axiom has cut our overall Budgeting processing time in half and we continue to find more efficiencies within the system every year due to the extreme flexibility and customization that the Axiom software allows.

Pros

  • Extremely flexible and dynamic allowing for customizations that align with our business needs
  • The database structure within Axiom allows us to create custom tables for adhoc data analysis
  • The processing time of Axiom (daily imports, monthly imports, Budgeting processes) are extremely favorable allowing us to cut our budget cycle time in half compared to our previous system.

Cons

  • The learning curve of their buildout of reporting is a bit confusing and definitely has some room for improvement. Once the concepts are learned and adapted, the reporting is extremely powerful.
  • Technical Support. The Technical Support team is extremely knowledgeable and they always resolve our issues in a timely fashion, however; the issue is getting a hold of a real person. Axiom relies heavily on email correspondence with support which lags the overall effectiveness, especially in urgent cases.
  • Axiom has allowed us to cut our overall budget cycle time in half with a much higher level of accuracy in all facets of the budget.
  • Axiom has allowed us to Forecast, specifically Non Interest expense and Fee income at a very detailed and accurate level compared to our previous system.
  • The processing time of consolidating the Budget results went from about 8 hours in our previous system to 5 minutes in Axiom (35000 customer records)
The only other system I have worked with was the Fiserv MPC product, which is what we had Axiom replace. The Fiserv MPC product does not even come close to the functionality of Axiom. For our Budget, we would have to run an Excel Macro in Fiserv MPC overnight which took about 8 hours to process in order for us to to see the results of the inputs we did the previous day. With Axiom, the non-margin items (Non-Interest Expense, Non-Interest Income) are real time - as soon as you click Save, the data is available. On the Cash Flow Margin side (Loans & Deposits), it takes about 5 minutes to fully process in Axiom approx. 30,000 records, which is extremely favorable.

Do you think Axiom Software by Syntellis Performance Solutions delivers good value for the price?

Yes

Are you happy with Axiom Software by Syntellis Performance Solutions's feature set?

Yes

Did Axiom Software by Syntellis Performance Solutions live up to sales and marketing promises?

Yes

Did implementation of Axiom Software by Syntellis Performance Solutions go as expected?

Yes

Would you buy Axiom Software by Syntellis Performance Solutions again?

Yes

Axiom is extremely well suited to optimize the Budget process. Using Axiom, we have cut our overall budget cycle time in half and have a much higher level of accuracy in all facets of the Budget including Fee Income, Expense, and Margin. Axiom is also well suited for advanced data users as you have the ability to create your own custom database tables which allows you to join to the existing Axiom tables and has allowed us to create custom reporting that we could not even think about on our previous system. The other big benefit of Axiom is that it sits on top of Microsoft Excel and inherits all of its functionality, which most people have experience with.

Axiom Software by Syntellis Performance Solutions Feature Ratings

9.7
Long-term financial planning
Not Rated
Financial budgeting
10
Forecasting
9
Scenario modeling
Not Rated
Management reporting
10
8.0
Financial data consolidation
Not Rated
Local and consolidated reporting
7
Detailed Audit Trails
9
10.0
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
Not Rated
5.3
Personalized dashboards
3
Color-coded scorecards
6
KPIs
7
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
9.7
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
9
BI Standard Reporting ()
Not Rated
Ad-hoc Reporting ()
Not Rated
Report Output and Scheduling ()
Not Rated
Data Discovery and Visualization ()
Not Rated
Access Control and Security ()
Not Rated
Mobile Capabilities ()
Not Rated

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