Synapse set to go from strength to strength in 2017, as Enterprise spreadsheets connected to the Cloud become the tool of choice
Synapse Information has appointed Ruth McFarland as Finance and Operations Manager to support the next stage of growth of the business. Founded by a group of British database experts in 2013 with Silicon Valley experience who gained backing from a UK Government SMART grant, Synapse technology combines the simplicity of the familiar spreadsheet interface with the power of an Oracle database to create Enterprise spreadsheets that are built for the complex challenges of today’s business world. Ruth joins Synapse following fifteen years at KPMG where she was an Audit Manager working with a wide range of clients, of all sizes and across a diverse mix of industries.
Brian Donnelly, CEO, Synapse, says: “We are delighted to welcome Ruth to the team and her appointment comes at an important stage of the company’s development as we roll out our solutions to a much wider global audience.”
“For a long time, spreadsheets have been the subject of bad press but the tidal wave is on the turn as business users realise they can still use spreadsheets in a new guise: as Enterprise spreadsheets that are connected to the Cloud.”
Ruth McFarland comments: “Synapse’s flagship solution, Cloud CFO, really is the answer to an accountant’s prayers as it gets rid of a lot of the pain associated with working with spreadsheets. It immediately solves any versioning issues and it is suited to any size of company, large or small.”
“Cloud CFO is more than a consolidation tool; even one-man bands can use it to produce monthly P & L and full monthly management accounts. It’s a lot more affordable than other commercial software and it allows businesses to work with their familiar spreadsheets safe in the knowledge that they are 100% accurate and data integrity is assured. The time and cost savings are immense and by connecting spreadsheets to the Cloud, the whole process for Group Company Financial Reporting is made easier, more accurate and more flexible.”
“Joining an energetic and dynamic team of such calibre is a real honour,” Ruth adds.
About Synapse Information
Taking spreadsheets to the next level
Synapse Information develops solutions that solve the challenge of spreadsheet failure. Widely recognised as a major business risk, this problem causes almost 1 in 5 large businesses to suffer financial losses and was a major factor in the high profile collapse of US energy giant Enron, with legal documents revealing that 24% of the corporation’s spreadsheet formulas contained errors.
Synapse’s flag ship solution, Cloud CFO, is designed for group financial consolidation and reporting and combines the simplicity of the familiar spreadsheet interface with the power of an Oracle database. By connecting spreadsheets to the Cloud, the whole process for Group Company Financial Reporting is made easier, more accurate and more flexible. This affordable solution improves collaboration by connecting users so that they only see data in real time and improves data quality and validity by eliminating one of the biggest risks associated with spreadsheet use; the lack of an audit trail. It transforms financial reporting by reducing the time taken to report on complicated group structures from days to minutes.
Synapse Information was founded by a group of British database experts with Silicon Valley experience who gained backing from a UK Government SMART grant to develop solutions that are now used extensively in banking and retail and in the motor dealership and insurance industry.