Flexi Review

Flexi Software
Flexi Software
Shelton, CT
Deployment Model:
Free Trial:
Cloud, On-Premise
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FlexiFinancials At A Glance

Good: Continuous close capability for accountants to better prepare for financial close periods; scalable modular design with flexible deployment; business intelligence module with easy-to-use interface for accountants.
Bad: Too robust for smaller companies; payroll management feature is not offered.
Bottom Line: Financial management solution that helps large organizations with complex finance needs streamline accounting workflows and make better business decisions.

Product Overview

FlexiFinancials is a financial management solution that helps large and enterprise organizations manage complex accounting needs. It’s deployed either on-premise, in the cloud or in a hybrid environment. Companies have the option of purchasing the entire suite via the Flexi Workflow engine or just specific modules.

FlexiFinancials is built on an open architecture that allows companies to integrate it with their existing business solutions. It’s also a scalable solution that can adapt to a company’s changing business status, for example, any mergers or acquisitions, growth or contraction.

FlexiFinancials includes automated workflow-driven processes that are designed on a company’s specific business rules. These processes help accountants eliminate manual data entry and reduce the risk of expensive mistakes.

Another benefit of FlexiFinancials is its continuous close capability, meaning accountants can perform soft close tasks at any time. With this capability, accountants have more time to prepare and review financial data before an actual close deadline, which could be end of month, end of quarter, or end of year.

Other benefits of FlexiFinancials include:

  • Multi-entity financial management capability that helps companies streamline accounting functions across multiple locations, franchises, general ledgers or currencies
  • Access to real-time, accurate data so executives can make better business decisions
  • Complete audit trail that traces all details with a single transaction, so companies can easily comply with Sarbanes-Oxley and other financial regulations


FlexiFinancials consists of nine core modules:

FlexiLedger – FlexiLedger is a general ledger with a robust set of features, such as continuous close capability, multi-entity consolidation and multi-currency conversion. It also supports a variety of journal recording features, such as prior period journal adjustments, recurring journals and year-end adjustment journals. The FlexiLedger module supports unlimited allocation rules and allows accountants to post to multiple books with a single entry.

FlexiPayables – The FlexiPayables module automates the accounts payable (AP) process with a “touch it once” functionality. Some of its features include multi-currency and multi-company invoices, 1099 tracking and adjustments, and vendor management functionality. The module has payment processing features, such as partial pay, void payment, manual checks, payment holds and payment by check, credit or electronic funds transfer.

FlexiReceivables – FlexiReceivables includes a variety of features that help automate the accounts receivable (AR) process. Some of these features include cash receipt processing, credit and collections processing and calculations of past-due payments. The module also supports user-defined customer groups, multiple bill-to and ship-to addresses and customizable invoices and statements.

FlexiRecon – FlexiRecon, an account reconciliation module, streamlines account reconciliation processes, such as AR deposits. Some of its features include automated import of bank statements and reconciling them with ledgers, AP and AR, transaction matching, close process management and auditing tools for streamlining compliance requirements.

FlexiPurchasing – With the FlexiPurchasing module, accountants can create purchase orders, generate purchase orders from requisition forms, perform price comparisons, and track sales tax and freight costs. The module has flexing processing features, such as customized forms, spreading expenses to multiple general ledgers and unlimited shipping methods. It also supports blanket purchase order options, tracking multiple dates, two-way or three-way purchasing order matching and unlimited catalogs.

FlexiAssets – The FlexiAssets module helps companies manage assets under multiple locations or departments.  Accountants can track all fixed asset information including lease information, serial number or bar codes. The module supports automatic and manual assignments of asset numbers, multiple currencies and multiple depreciation methods.

FlexiProjects – The FlexiProjects module allows accountants to keep track of funds and expenses within projects. Some features include funds authorization, budget benchmarks, multiple date tracking within a project and funds availability control. Accountants have access to all project financials, such as available expense and capital, authorized expense and capital, and pending expense and capital transfers.

Flexi Financial Report Writer – The Flexi Financial Report Writer is accessible from any web browser, and includes a drag-and-drop interface for creating reports. The components within the report can be saved as templates, so users won’t have to start from scratch if they need to run a new report. Reports can be viewed online or via Execel or PDF; there’s also an offline drilldown viewer for digging into data while offline. Users can either run reports immediately or schedule them at a specific time. And finally, reports can be shared with anyone, but users control who can view or edit them.

FlexiAnalysis and FlexiBI – FlexiAnalysis is a self-service business intelligence tool that’s specifically designed for accountants. It has a simple drag-and-drop Excel interface, so users can create reports quickly. The module connects with data from other FlexiFinancials modules, and includes predefined templates. Users can also drill down into each transaction for more details, as well as create a variety of charts or graphs.

While FlexiAnalysis is based in Excel, FlexiBI is deployed in the cloud and includes many features, such as prebuilt templates and key performance indicators (KPIs), industry benchmarking, financial forecasting and AI capabilities.

We also want to note that FlexiFinancials has an integrated security module called FlexiControl. FlexiControl provides features such as integration to Active Directory and LDAP, single sign-on, network and application authentication and password controls. Administrators can activate and deactivate users and deactivate no-activity accounts.

Aside from the nine core modules, companies have the option of purchasing additional applications, such as electronic invoicing, payment processing and expense management.

Target Market

FlexiFinancials targets accountants, controllers and CFOs in larger companies in the banking, healthcare, insurance, restaurant and hospitality industries.

We’ve listed below several clients that use FlexiFinancials:

  • Constellation Mutual
  • Glacier Bancorp, Inc.
  • Lone Star National Bank
  • Merchants Bonding Company
  • Mercury Insurance Group
  • Pharmacists Mutual Insurance Company
  • Spokane Teachers Credit Union

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Flexi has an implementation methodology, called RAPID, that’s designed as phases within the implementation project. RAPID stands for Requirements, Analysis, Prototype, Implementation and Deployment.

Requirements (R) – The Requirements phase consists of a kickoff meeting between Flexi and the client. During this meeting, Flexi and the client discuss the client’s needs and requirements for the software. The client receives an implementation statement of work based on the information gathered.

Analysis (A) – During this phase, Flexi documents the implementation approach that includes a data conversion strategy assessment and a list of a client’s existing systems that need to be integrated to FlexiFinancials.

Prototype (P) – In this phase, the client receives a customized prototype of their FlexiFinancials solution to ensure it fits their exact specifications.

Implementation (I) – The solution is implemented within a test environment once the prototype has been approved by the client. Training services and user acceptance testing is also performed within this phase.

Deployment (D) – The solution is deployed and goes live. Operations and support procedures are implemented during this phase, and Flexi follows up with the client to ensure the solution is running smoothly.

Customer Service & Support

Users can contact the Flexi Support Hotline by phone or email, as well as access the support portal.


Flexi doesn’t publicly display its pricing information. Please contact the company directly for a quote.


FlexiFinancials is mainly intended for larger companies in specific industries, so it may be too robust for smaller organizations. Also, it doesn’t offer built-in payroll management features, but it can integrate to a company’s payroll system.


Flexi Software Screenshot 1
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Founded in 1990, Flexi Software’s mission is to create a world-class platform that will not only offer the robust functionality found in costly Tier One ERP solutions, but also offer the things that matter most in a rapidly changing accounting environment. It gives companies a flexible approach in a financial management software, where they can purchase FlexiFinancials as an entire suite or just the modules they need.

Flexi Software markets its software directly to businesses, as well as through a partner network comprised of companies such as Allscripts, StoneRiver, MajescoMastek and Molina Healthcare. It’s currently used by 1,500 customers and more than 20,000 users. Flexi also processes multi-billions of transactions in real time.

Flexi Software is headquartered in Shelton, CT, and has an international office in London.

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