LiveFlow vs. Coefficient

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Are you thinking about giving your financial reporting and analysis a serious upgrade but are stuck on which tool to choose, Coefficient or LiveFlow?

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Let's discuss Coefficient and LiveFlow in depth. We'll examine what makes each platform tick—the good, the bad, and everything in between. 

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By the end of this article, you'll have all you need to make the call that's just right for your finance game.

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What Sets Coefficient and LiveFlow Apart?

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Before we get into the details, let's outline what makes these tools a strong option for advanced reporting on your QuickBooks Online data.

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Coefficient is a data connector that syncs your spreadsheets in Google Sheets and Excel with live data from various sources, including Salesforce, HubSpot, Quickbooks Online, and SQL databases.

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Its standout feature is its ability to automate data flows into spreadsheets, eliminating manual data entry. Essentially, you can use Coefficient to create your dashboards from your data directly in your spreadsheet of choice.

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On the flip side, LiveFlow is an FP&A platform specializing in advanced reporting and financial consolidation for QuickBooks Online (QBO).

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LiveFlow transforms your QuickBooks Online data into live, dynamic reports in seconds. It funnels your data directly into Google Sheets or Microsoft Excel, crafting dashboards that you can share with your clients or team.

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By connecting QuickBooks Online with Google Sheets and Excel, it offers customizable reports with over 100 pre-built templates, real-time data analysis, and multi-entity consolidation within minutes.

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Now that you know the basics, let’s get into the specifics of what separates LiveFlow and Coefficient.

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Integration Capabilities

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Coefficient integrates with a wide variety of data sources, including CRM systems, databases, and accounting software. This includes Hubspot, Salesforce, Quickbooks Online (QBO), MySQL, Snowflake, Shopify, and more.

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LiveFlow specializes in just one integration, focusing exclusively on connecting QuickBooks Online directly with Google Sheets or Excel.

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If you need a tool that connects to more than one platform, then Coeffcient may be the choice for you. However, LiveFlow does things with QuickBooks Online that Coefficient can’t.

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Key Features

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Both Coefficient and LiveFlow are very similar in that they directly connect with Excel or Google Sheets without relying on an intermediary platform in the cloud. 

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The following video shows how to connect Quickbooks Online with Google Sheets using Coefficient:

https://www.youtube.com/watch?v=JX_gXDyF9fE

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However, Coefficient is much more focused on CRM softwares like Hubspot or Salesforce, where it offers 10+ prebuilt templates for each one while just 1 for an accounting software like Quickbooks Online. 

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These are the key features highlighted by Coefficient:

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• Live Data Connections: Automatically sync data from various sources directly into your spreadsheets.

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• Spreadsheet Automation: Minimize manual data entry and errors by automating data updates and calculations.

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• Collaborative Workflows: Enhance team collaboration with shared data views and editing capabilities.

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• Customizable Dashboards: Create dynamic, data-driven dashboards that update in real-time.

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LiveFlow shares features like customizable dashboards, automation, and live connections but has an edge by offering the ability to consolidate multiple entities and currencies. LiveFlow also features:

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• Real-Time Updates: Once your QuickBooks Online accounts are synced with LiveFlow, you'll experience fast, live updates, ensuring your data is always current.

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• Effortless Consolidation: Consolidate multi-entity business reports in less than three minutes, a game-changer for businesses with complex structures.

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• Detailed Transaction Insights: Drill down into every transaction for the context you need, all without logging into QuickBooks Online.

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• Customizable Templates: Access over 100+ prebuilt financial templates at your disposal, tailor your reporting to meet your specific needs, saving time to focus on strategic decision-making.

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• Uncompromised Security: Rest easy knowing that your data is protected with SOC-2 standard security, keeping your financial information safe and sound.

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• Dedicated Customer Success Team: Our dedicated Customer Success Team ensures your onboarding is as smooth as possible, guiding you every step of the way.

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Customer Success

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When it comes to customer support, LiveFlow stands head and shoulders above Coefficient.

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LiveFlow offers a truly concierge level of customer success support that is unmatched in the industry. From the initial demo call, you will have near-instant access to a team of customer success professionals with finance backgrounds, who will guide you through every step of the onboarding process. 

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LiveFlow's customer support team really delivers the goods, too. Offering perks like white-labeled financial model creation and connecting you to your own Slack channel, ensuring you can communicate with the LiveFlow team whenever you need to. 

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This level of support is unparalleled in the industry and can make all the difference to the success of your financial reporting and analysis. 

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Coefficient, on the other hand, simply does not offer the same level of customer care. Their response times can take days instead of minutes, and their support team does not have the same level of financial expertise that the LiveFlow team brings to the table. 

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While Coefficient may have a broad range of integrations, its lack of customer support can be a major drawback for businesses looking for a more personalized experience. 

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In light of this, if you are seeking a platform that provides exceptional customer support, then LiveFlow is the clear choice. With dedicated professionals guiding you throughout the entire process, white-labeled financial model creation, and a direct line to the LiveFlow team, you can rest assured that you are in good hands. Choose LiveFlow for a truly personalized and effective experience.

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The Verdict

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If you are still weighing your options on which platform to use, ask yourself the following:

• Do you need to integrate data from multiple platforms, covering a range of business functions from CRM to accounting software, or is your focus primarily on QuickBooks Online data?

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• Is creating live dashboards quickly and efficiently, with a selection of pre-set templates at your fingertips, your main objective?

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• Do you want a team that has your back and is geared up to help you crush your reporting tasks in record time?

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If QuickBooks Online is your primary tool and you're seeking to enhance reporting for your business, LiveFlow is the answer you're looking for.

Let’s touch base today and schedule a free walkthrough of the LiveFlow platform, so you understand the value that LiveFlow and our team can bring to your business.

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Also, if you're interested in understanding how LiveFlow stacks up with the rest of our competitors regarding the ease of integration QuickBooks Online to Google Sheets, read here

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