Numeric
AI-Powered Close Automation
Contact for Pricing
⭐⭐⭐⭐ 4.8/5 Rating
Purpose: AI-driven close automation for accounting teams, streamlining reconciliations, flux analysis, and reporting
Initial Release: 2024
Latest Version: 1.5
Key Features & Capabilities
AI-Powered Automation
Numeric uses AI to automate repetitive and time-consuming tasks across the entire accounting cycle. From journal entries to financial reporting, Numeric’s AI ensures that your accounting team spends less time on manual tasks and more time on high-value work.
Smart Subledgers
Numeric significantly reduces manual work in maintaining subledgers. The platform automates schedules and posts adjustments automatically, streamlining the reconciliation process and increasing accuracy.
Flux Analysis Tool
Numeric’s AI-driven flux analysis tool drafts initial flux explanations, providing faster and more insightful financial analysis. With its ability to instantly uncover drivers of variance, your team can make informed decisions in real-time.
Technical Accounting AI
Whether brushing up on ASC 606 or drafting accounting policy memos for stock-based compensation, Numeric’s technical accounting AI assists in writing high-quality drafts grounded in the latest accounting standards.
Integrated Reporting & Analytics
Numeric offers seamless integration with your existing systems, enabling dynamic reporting capabilities. The platform pulls data directly from general ledgers to generate comprehensive, real-time financial reports for greater visibility and control.
Full Transaction Drill-downs
Numeric provides full drill-down capabilities for all transactions. Whether you need to answer a quick question or uncover detailed financial insights, you can drill into the exact source of any transaction instantly.
Enterprise-Ready
Designed to scale with your team, Numeric is both powerful and secure, capable of handling growing business demands without compromising performance. It’s an AI-native platform that evolves as your needs change.
Free Trial Availability
Try Numeric with a free trial and experience how AI can assist with the accounting close process. Schedule a demo to see the platform in action, and take advantage of this robust trial period to test the capabilities.
How Numeric Works: The Technology Behind It
Step 1: Onboarding Made Easy
Numeric integrates seamlessly with your existing systems. Its modern, lightning-fast design makes it easy to onboard, with minimal disruption to your existing processes.
Step 2: AI-Driven Automation
Numeric’s AI handles all key accounting tasks, including journal entries, reconciliations, and flux analysis. It continuously learns from your data to automate and improve workflows.
Step 3: Real-Time Reporting
Generate comprehensive financial reports directly from your general ledger, and view them in real-time. Numeric’s integrated reporting tools ensure you always have up-to-date insights to guide your decision-making.
Step 4: Detailed Transaction Insights
With transaction drill-downs, Numeric gives you the ability to track any transaction to its source. This level of detail is crucial for addressing discrepancies and understanding financial trends.
Performance Analysis
User Experience (UX)
Setup & Installation:
Numeric is a cloud-based platform, which means no installation is required. Users can get started immediately after signing up, connecting their existing financial systems to Numeric’s intuitive platform for quick setup.
Ease of Use:
Numeric is designed with ease of use in mind. The modern, intuitive interface makes it accessible for accounting teams with varying levels of technical expertise. From onboarding to daily operations, the platform is user-friendly, allowing teams to focus on their work rather than learning complex software.
Interface Design:
Numeric’s interface is clean, sleek, and user-friendly, with clear navigation and minimal distractions. The design is optimized for accounting workflows, ensuring users can find and use the tools they need quickly and efficiently.
Documentation Quality:
Numeric provides comprehensive documentation, including guides and FAQs, to help users maximize the platform’s capabilities. The Learning Center offers in-depth tutorials that cover everything from basic setup to advanced functionality, ensuring users can fully leverage the tool’s features.
Learning Curve:
Minimal – Thanks to its intuitive design and helpful resources, Numeric has a minimal learning curve. New users can quickly familiarize themselves with the platform and begin using its features effectively without a prolonged training period.
Customer Support:
Numeric offers excellent customer support with multiple contact options, including live chat, email, and phone support. Users consistently report fast response times and helpful solutions, ensuring that any issues are addressed promptly.
Onboarding Process:
The onboarding process is straightforward, with easy-to-follow steps to connect your financial systems and start using the platform. Numeric’s team provides support during the initial setup phase, ensuring a smooth transition.
Mobile Accessibility:
Numeric is mobile-optimized, allowing users to access the platform on smartphones and tablets. This flexibility enables accounting teams to manage their workflows from anywhere, providing convenience and improving productivity.
Localization:
Numeric supports multiple languages and regions, ensuring accessibility for global teams. Its localized content makes it suitable for accounting teams in different countries, adhering to regional accounting standards and regulations.
Pricing and Value for Money
Free Plan
$0.00
/mo
No credit card required
Standard Plan
$9.99
/mo
credit card required
Pro Plan
$29.99
/mo
credit card required
Cost-Effectiveness
Numeric offers excellent value for money, particularly for mid-sized and large enterprises that need to streamline their accounting workflows. By automating complex tasks like reconciliations and flux analysis, Numeric saves accounting teams significant time and reduces the need for manual labor, making it a cost-effective solution.
Special Discounts
Numeric offers discounts for annual subscriptions, as well as custom pricing for larger enterprises with specific needs. The platform also offers promotions from time to time, allowing businesses to save on long-term commitments.
Hidden Costs
There are no hidden costs with Numeric. All features are transparently priced, and the subscription includes all key functionalities, with no surprise charges for essential features.
Use Cases and Industry Applications
| Industry | Use Case | Description |
|---|---|---|
| Small Businesses | Automated Bookkeeping | Simplifying expense tracking, invoicing, and reconciliation through AI. |
| Startups | Financial Forecasting | Offering predictive insights for cash flow, runway, and growth planning. |
| E-commerce | Sales & Tax Management | Automatically categorizing transactions, handling sales tax, and generating reports. |
| Corporate/Enterprise | Compliance & Audit Preparation | Streamlining audit trails and ensuring accurate compliance reporting. |
| Freelancers | Invoicing & Expense Tracking | Helping individuals manage income, expenses, and client billing with ease. |
| Nonprofits | Donation & Grant Tracking | Managing donor contributions, grants, and compliance requirements. |
| Education | Student Finance Management | Assisting institutions in tracking tuition payments and budgeting. |
| Healthcare | Medical Practice Accounting | Managing patient billing, insurance claims, and operating expenses. |
| Real Estate | Property Expense Tracking | Handling rental income, maintenance costs, and financial reporting. |
| Consulting/Agencies | Project-Based Accounting | Allocating costs, tracking billable hours, and generating project reports. |
Supported Integrations
Numeric integrates with a variety of leading financial systems and tools, including:
- ERP Systems: Seamlessly integrates with major ERP platforms such as NetSuite, ensuring accurate and real-time financial data.
- Excel: Numeric supports Excel, allowing easy sync and integration for teams who prefer working in spreadsheets while benefiting from the automation capabilities of Numeric.
- Cloud Accounting Systems: As a cloud-based platform, Numeric connects easily with other cloud accounting tools, facilitating a smooth and collaborative financial workflow.
API & Developer Tools
Numeric offers an API that provides flexibility for businesses looking to customize their integration with other software. The API allows accounting teams to integrate Numeric’s automation tools into their own systems, creating a fully tailored financial workflow that meets their specific needs.
Integration and Workflow Automation
Workflow Automation
With powerful workflow automation, Numeric automates key processes, from reconciliations to report generation, reducing manual effort and human error. This automation is key for improving operational efficiency, enabling accounting teams to focus on high-value tasks instead of routine administrative work.
CRM & ERP Compatibility
Numeric can integrate with CRM systems and major ERP solutions, ensuring that financial data flows smoothly throughout the organization. This compatibility makes it easier for accounting teams to collaborate with other departments, ensuring all financial processes are aligned with company goals.
Third-Party Plugins
Numeric also supports third-party plugins, allowing for even more customization and functionality. These plugins can be used to enhance existing features or introduce new capabilities, such as improved reporting or additional data sources, further extending Numeric’s usability.
Data & Analytics Capabilities
Built-in Analytics
Numeric’s built-in analytics tools provide real-time insights into financial data, giving accounting teams the ability to monitor performance and track key metrics. The AI-driven platform ensures that data is processed and analyzed quickly, delivering accurate and up-to-date reports for decision-makers.
Custom Reporting
Numeric allows users to generate custom reports based on their specific needs. Whether it’s a high-level summary or a detailed transaction analysis, the platform offers flexibility in creating reports that provide actionable insights for better financial management.
Real-time Data Processing
Numeric processes financial data in real-time, enabling businesses to make immediate decisions based on the most up-to-date information. This real-time capability is especially useful for fast-moving companies that need to stay on top of their financial health.
User Behavior Tracking
Numeric tracks how users interact with the platform, providing insights into usage patterns and helping businesses optimize their workflow. This data can be used to identify bottlenecks in the accounting process and suggest areas for improvement.
Data Export Options
Numeric makes it easy to export data for further analysis. Reports can be exported in various formats, including CSV and PDF, allowing accounting teams to share information with stakeholders, create presentations, or conduct more in-depth analysis in other tools.
Data Visualization
Numeric provides basic data visualization tools that allow users to view key financial metrics in an easy-to-understand format. This feature helps accounting teams quickly interpret complex data and communicate findings to management in a clear, visual way.
Integration with BI Tools
Numeric supports integration with Business Intelligence (BI) tools, allowing teams to leverage more advanced analytics for deeper insights. While it doesn’t offer direct integration, exported data can be imported into BI platforms like Tableau or Power BI for more advanced analysis.
AI Ethics, Privacy, and Compliance
Data Security
Numeric ensures the security of your financial data with robust encryption. All data, both in transit and at rest, is protected by industry-standard security protocols, ensuring that sensitive financial information remains safe and confidential.
Bias Mitigation
Numeric actively works to minimize biases in its AI algorithms. The platform continuously learns and improves, ensuring that it provides accurate financial analysis without any unintended bias. This makes it suitable for a wide range of industries and use cases.
Regulatory Compliance
Numeric adheres to various industry regulations, including GDPR, SOC 2, and other financial data protection standards. The platform is designed to ensure that all user data is handled in a compliant and transparent manner, protecting both companies and their clients.
Transparency in AI Decisions
Numeric provides users with transparency into how its AI functions, particularly regarding how flux analysis and reconciliations are automated. This openness helps build trust and allows accounting teams to better understand how the platform processes their financial data.
User Consent Management
Numeric requires explicit user consent before processing any data. The platform makes it easy for users to manage their privacy settings, ensuring that data is only collected and used for legitimate purposes. This user-centric approach helps ensure that financial data is handled responsibly.
Ethical Use Policies
Numeric is committed to ethical AI usage. The platform focuses on enhancing the efficiency and accuracy of financial workflows without compromising the integrity of financial data. Numeric also prioritizes creating solutions that are inclusive, reducing human error, and making accounting processes more transparent and accountable.
Security Features
Encryption
All user data is encrypted using the latest encryption protocols to ensure maximum security during transmission and storage. Numeric’s data security practices align with industry best standards to safeguard financial information.
Access Controls
Numeric provides customizable access controls, allowing administrators to set permissions and roles for different users. This ensures that sensitive financial data is only accessible to authorized personnel, enhancing security and compliance.
Audit Trails
The platform maintains a comprehensive audit trail of all user activity, allowing businesses to track and review how their financial data is used. This feature is especially valuable during audits and for maintaining internal controls.
Two-Factor Authentication (2FA)
Numeric supports two-factor authentication, adding an extra layer of security to protect user accounts. This feature ensures that only authorized users can access sensitive financial data, reducing the risk of unauthorized access.
Security Certifications
Numeric is certified under ISO/IEC 27001, a globally recognized standard for information security management. This certification demonstrates the platform’s commitment to maintaining the highest levels of security for its users.
Strengths & Weaknesses
Strength
Weaknesses
Screenshots
Competitor Analysis
| Feature | Numeric | FloQast | BlackLine | Prophix |
| AI-Powered Automation | Yes | Limited | Limited | No |
| Flux Analysis Tool | Yes | No | No | Yes |
| Technical Accounting AI | Yes | No | No | No |
| ERP Integration | Yes (NetSuite, etc.) | Yes (NetSuite, etc.) | Yes (SAP, Oracle) | Yes (Various) |
| User-Friendliness | High | Moderate | Moderate | Moderate |
| Pricing | Contact for Pricing | From $1,500/month | From $2,000/month | From $10,000/year |
| Free Trial | Yes | No | No | No |
| Customer Support | Excellent | Good | Excellent | Good |
| Cloud-Based | Yes | Yes | Yes | Yes |
How Numeric Stands Out
Numeric is unique in its ability to fully automate the financial close process with AI-powered tools that extend from balance sheet reconciliations to flux analysis and technical accounting tasks. While competitors like FloQast and BlackLine focus more on traditional reconciliation processes, Numeric introduces a much more comprehensive automation suite, saving time and improving accuracy. The platform’s ability to provide AI-generated flux analysis and draft policy memos is unparalleled, making it an ideal choice for modern accounting teams looking for efficiency and scalability.
Final Verdict
Numeric is a game-changing AI-powered accounting tool designed to automate and streamline the entire financial close process. Its AI-driven features provide substantial time savings, enhance financial accuracy, and help businesses maintain audit-ready financials. With a user-friendly interface, easy integrations, and scalability, Numeric is well-suited for both small and large teams looking to improve their accounting operations.
Despite a few initial setup challenges and limitations in customization for early users, Numeric’s overall value is exceptional. It stands out as a modern solution in a market dominated by legacy platforms, thanks to its comprehensive automation capabilities and ease of use.
For teams looking to enhance their financial workflows and gain more insight into their accounting operations, Numeric is a highly recommended choice. It combines advanced AI capabilities with robust reporting and integration features, setting a new standard in the accounting software space.
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