What is Syft Analytics?

January 17, 2020 | QBOchat |

About Syft Analytics

Syft Analytics delivers financial insights to enhance understanding and automate monthly reporting. We asked them 8 questions, as a part of our “What Is” blog series, to learn more about their app and their company.

What is your App’s name, what do you do, & when did you get published on Intuit’s Apps.com?

Syft Analytics
The number 1 rated Analytics, Reporting and Tax app on the Intuit App store globally
We were published on the Intuit App store in July 2018

What was the main problem you were trying to solve when you first developed Syft Analytics?

We started off as an accounting firm that utilized cloud accounting software. We quickly realized that the internal reporting and analytics capabilities of cloud accounting software were not particularly helpful as the software focussed almost exclusively on core accounting and tax capabilities. That’s great for compliance but when it came time to client meetings the team needed to demonstrate some sort of insight to help their clients make better business decisions. We found ourselves conducting the time-consuming process of exporting data to Excel, building graphs, creating professional-looking reports, and only then trying to uncover some clever insights. We realized that this issue extends to anyone with financial data – how can one make sense of financial data quickly and produce an output that is simple, usable and insightful!?

What companies (or users) are the best fit for Syft Analytics?

All QBO accountants and bookkeepers who would like to save time and deliver their clients a quality set of management accounts monthly or quarterly.

Tell us about your users’ top 3 favorite features or benefits of Syft Analytics.

Data Visualization & Industry Benchmarks – Uncover insights from accounting data across profit, customers, items and cash. Compare your QuickBooks Online entity to industry benchmarks and quickly determine areas of out or underperformance.
Automate & Customize Reporting – Deliver insights for single or consolidated QuickBooks Online entities via custom branded PDF reports that can be downloaded or scheduled to email periodically.
Forecast & Budget – Predict and identify areas of growth or decline to ensure you stay on top of your finances.

Tell us about your company’s culture and leadership.

We’re a young and dynamic group of accountants and engineers that really enjoy creating a product that helps businesses understand their financial data and accountants save time. We are constantly looking to improve and iterate our product based on user feedback.

In terms of leadership, everyone takes ownership of their task and gets it done. You could say it’s a leadership approach based entirely on trust.

How is Syft Analytics different from your competitors?

Syft has 3 key differentiatiors:

Plug and play with no training required
The ability to compare your connected entity to industry benchmarks within the same country
Customer, supplier and item reports instead of just trial balance reporting