The GL Company announces GL Inquiry: Really-Real Time™ technology that runs over PeopleSoft’s World and EnterpriseOne General Ledger Systems. GL Inquiry with Really-Real Time technology cuts end of month processes from hours/days to just seconds/ minutes.
GL Inquiry speeds up all financial functions for month-end close to final statutory consolidations by running a real-time process rather than a batch process.
Really-Real Time technology uses the underlying database that is supplied by the ERP vendor, so no time is lost in duplicating the data. Really-Real Time OLAP (Online Analytical Processing) views are created for as long as the inquiry is needed. By direct processing of the data, a trial balance can be produced in minutes, and in some cases seconds, from the last transaction hitting the database.
Nick Gomersall, Sales and Marketing Director explains, “Without Really-Real Time technology, the integrity of the General Ledger is lost, leading to poor reporting and accountancy. The GL Company is challenging the notion that Business Intelligence (BI) solutions can provide businesses with the speed of processing necessary to support today’s accounting practices and the corporate pressure to produce end of period reports instantly. “
Recent high profile cases have increased the vigilance of the regulatory authorities and therefore the need to produce accurate reports in a far timelier manner. BI tools for month end can take anywhere from one hour to two days to see the effect of just one journal entry. Such a time delay is now unacceptable for period close. GL Inquiry with Really-Real Time overcomes the BI time lag.
David Stone, of Criterion Asset Management comments –“I used to have to wait 50 minutes to run my trial balance so I would run it over night. With GL Inquiry and Really-Real Time™ technology it now takes less than 1 minute to run and I can make all my postings and drill back to the underlying transactions when I want to”
Gomersall concludes: “Very few applications need to be real time but when it comes to closing the books at month end, Really-Real Time can mean the difference between a normal day at the office or yet another long period of burning the midnight oil. Really-Real Time is revolutionising the accountancy market.”
About The GL Company
Established as a division of DecisionWorks Software Ltd, The GL Company is the first software house to produce a Really-Real Time accounting solution. The company specialises in providing enhanced financial applications to PeopleSoft users and other Enterprise Resource Planning systems. Through the use of innovative technology, The GL Company has rapidly established a prestigious customer base, predominantly in Northern America and Europe, but also in other territories. Over 86 companies now use GL Company products. The GL Company has offices in London, UK and Colorado, USA
For further information, interviews or photographs please call:
Bluebird Associates Ltd
The GL Company
0208 280 8900
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