At Intuit, our mission is to power prosperity around the world. A huge part of what makes our mission achievable is the innovative developers who integrate their applications with QuickBooks. These applications offer unique solutions that enhance the capabilities of QuickBooks Online to better serve the needs of our customers.
One such application is Qvinci – Automated Data Consolidation, BI, KPIs, and Financial Reporting. Qvinci is a financial reporting solution for multi-entity financial management and operational performance that helps organizations of all sizes effectively measure, monitor, and communicate financial performance in a way all stakeholders understand and act on.
The result, according to Qvinci’s Chief Sales Officer, John Logan, is “increased profitability, faster growth, and improved compliance.”
How Qvinci Started
The Qvinci story began in 2006 when founder Charles Nagel recognized that the underperforming businesses he was helping all shared a common challenge: lack of visibility into their financials.
As Charles recalls, “They were not accountants. They were business owners and there really was no way for them to easily digest financial data so they could make better business decisions and operate more efficiently.”
In 2007, Nagel and three employees founded Qvinci (initially called QuickDash). Accountants weren’t offering advisory services at the time, so financial reporting software like Qvinci was “way ahead of the curve.” Qvinci’s growth also stalled somewhat when Charles tasked his team with creating a web-based version of their solution.
“Being first was a blessing and a curse,” explains Charles. “On the one hand, we were able to get our patents through relatively easily because nobody else was doing what we were doing. On the other hand, we found ourselves back in a position where we had to wait for the market to catch up. It was touch and go there for a while.”
Fast forward to today and Qvinci is well known in the accounting industry as an award-winning financial reporting solution. It has also become a highly rated app in the QuickBooks App Store.
What Qvinci Does
Qvinci is an ERP-like solution that delivers financial data consolidation, automated reporting, workflow management, and advanced business intelligence through the cloud. The financial reporting software connects directly with QuickBooks, offering users access to up-to-date, accurate financial data. It also automates manual tasks through its patented technology, saving users significant time and effort.
Qvinci is an asset to multi-entity organizations that have separate units, locations, divisions, or departments with benefits that include:
Automated Data Collection, Consolidation, and Mapping
- Automated data collection provides access to near-real-time actionable insights
- Consolidated financials using patented account mapping technology
- Technology that maps disparate location data to an organization-defined Standard Chart of Accounts
- Homogeneous data across any organization
Customizable Business Intelligence
- KPI scorecards and performance dashboards
- Performance risk analysis
- Ranking and benchmarking that’s filterable
- Compliance and exception reporting
- “What If” cash flow forecasting
- Interactive user interface
Financial Reporting
- Weekly general ledger reports starting on any day of the week
- Reporting by entity
- Royalty and brand fund reports
- Budget vs actual reports
Says John, “Qvinci’s powerful performance and business intelligence tools — like multi-entity wellness dashboards, KPI scorecards, alert notifications, predictive analytics, and cash flow forecasting — have all been proven to facilitate an organization’s ability to partner with their location managers more effectively. This results in vastly improved profitability for everyone.”
Who Qvinci Serves
John describes Qvinci as a cost-effective and easy-to-use application that’s supported by a “success-driven” team. “Our Customer Success team ensures the onboarding, training, and adoption process is simple and straightforward for all Qvinci customers and partners.”
Qvinci customers are for-profit and non-profit organizations with multiple QuickBooks entities. This includes accountants who serve high-net-worth individuals, franchises, industry-specific clients, and multi-entity organizations, as well as religious organizations and charities.
Advanced QuickBooks ProAdvisor and CPA Jeff Siegal says, “Qvinci gives business owners and management a visual representation of how their business is performing with graphs and key performance indicators. It’s a highly customized product that works seamlessly with QuickBooks.”
This praise for Qvinci is echoed by hundreds of customers who have given it five stars in the QuickBooks App Store. One of those customers is Chaz, who writes that Qvinci is “Very powerful and fast. Also very flexible when doing custom reports. The consolidation of multiple financial files is the very best.”
KBS, Inc. also praises Qvinci in their review. They write, “ Qvinci Software went above and beyond to ensure that all our reporting requirements and nuances were customized to our needs. Qvinci reporting has allowed us to create multiple entity consolidation reporting with a fraction of the effort as was required before.”
QuickBooks Online App Development
John gives the QuickBooks Online app development process high marks. “We highly recommend using the QuickBooks Online .NET SDK. It’s easy to use and handles many of the mundane tasks associated with API interaction.”
He also says listing Qvinci on the QuickBooks App Store was “straightforward and easy to implement” and that his questions were promptly addressed throughout the app review process.
Digging deeper, we wanted to know how he and his team used our APIs for things like implementing their accounts receivable management. “We gather the reports by year or segments of the year so query results don’t exceed the API size limits.”
To optimize API calls, he adds, “When we hit rate limits, we retry at exponentially slower rates to keep us under the API rate limits.”
When asked about potential connectivity issues for their customers, John says they don’t often have connection issues. When they do occur, “We have a ‘Reconnect’ button in our application’s user interface that makes it quick and easy to re-establish a connection between Intuit and Qvinci.”
Additionally, John explained how the Qvinci team handles any validation errors during a data sync.
“We do a few retries to help ensure that validation errors aren’t temporary or due to server issues on the Intuit side. Then we notify our Customer Success team to work with the customer to reauthorize the API access.”
His advice for other developers that may run into API errors? “Occasionally, an API call may return an unauthorized response even when it should have been successful. If this happens, don’t give up after just one attempt. Retrying the call can often resolve the issue.”
How Qvinci exceeds customer expectations
By continuously innovating their product and valuing excellence in everything they do, Qvinci consistently exceeds customer expectations. Customer “AnAccountant” had this to say in their five-star review:
“I love this app. It lets me create reusable portfolios for all my clients that I can customize to meet each of their needs. QuickBooks Online data is uploaded every night and each month I just check to make sure my QuickBooks Desktop customers have uploaded their data and voila, I can run reports with their custom KPIs and graphs and indicators all put together in a single PDF file in just a matter of minutes that used to take me days to put together by hand.”
The Qvinci team’s mission is to empower business organizations and nonprofit leaders to get near real-time access to relevant financial and nonfinancial data, reporting, and business intelligence that everyone can make sense of, and act on. They’re succeeding and we’re excited to be a part of their success.
We’re always looking for innovative apps that can address the unique needs of our QuickBooks customers. Our step-by-step guide makes listing your app on the QuickBooks App Store easy.