Achieving Efficiency and Effectiveness with FRx.  by Fred Schlossman

Buzzwords always seem to be thrown about especially during challenging economic times. Two of the most popular are Efficiency and Effectiveness.  “We have to be a more efficient organization, by cutting cost and eliminating duplication of efforts.”  “We have to be a more effective organization, getting things right the first time producing results with no wasted efforts.” 

Theses a old saying “There is never time to do the job right, but always time to do the job over.”  Sometime you have to realize that if you take the time to do the activity correctly the first time, you wouldn’t have to spend additional time modifying the results.   Microsoft FRx allows you to create dynamic financial reports that do not have to be manually updated on a monthly basis like spreadsheets.  You can design a report to display the most current financial information at the touch of a button, with no need to have to change it every time you generate it.   FRx also has the ability to use different row formats and column layouts depending on the reporting period.  And because the financial data is coming directly from the General Ledger the risk of cutting and pasting the wrong information is eliminated.   Efficiency is defined as "doing the thing right."  The output can then be distributed in many different formats to decision makers in the organization. Microsoft FRx allows you to get the right information to the right people, the first time and every time. 

Effectiveness is defined as "doing the right thing."  To make sound business decisions, current financial information is required.  FRx provides up to date information with out having to wait until the reporting period has ended.   And with the ability to edit and change building blocks, you can evaluate you current financial position at the touch of a button.  Decisions can be made in a more timely matter and every level of management can provide input to how the decision will affect them.

Financial reports of all types can be accessed from the Report Catalog, updated with the relevant reporting date, generated using a variety of traditional or graphical output options, and then distributed to decision makers through a secure Intranet site or through e-mail to facilitate the timely analysis that today's turbulent market demands