with multiple legal entities, intercompany eliminations, various regulatory and management reporting requirements, mergers and acquisitions, foreign currency translations, and expense allocations, it seems impossible to get a comprehensive view of your entire company. cut down on the amount of time wasted gathering data and increase the time you spend on data analysis by leveraging a unified platform. are you tired of navigating multiple erp systems or sifting through historical data to find answers? with prophix, you can automate data consolidation from any number of source systems and eradicate manual tasks, connecting all your information together for streamlined financial processes like consolidation and close. once your data is loaded, you can use prophix to create journal entries, manage adjustments, and produce audit reports to speed up your consolidation and close processes. you can make debit and credit adjustments as needed, such as intercompany eliminations.
adjustments entered into prophix are fully logged enabling the creation of detailed and auditable reports when you need them simplifying and expediting internal or external audit processes. with seamless data connectivity and built-in workflows, you can include stakeholders in every step of the process and ensure every branch of your business is on the same page, working as a complete unit. prophix allows you to apply different currencies to your analysis or set ownership percentages for a comprehensive understanding of your operations. anomaly detection found in prophix’s virtual financial analyst will allow you to speed up your close process by leveraging the power of cloud computing and ai to quickly identify all of the risk hiding in your transactions that typically delay close processes. by completing the above form you are agreeing to receive further communications from prophix and share your contact information with authorized and approved prophix partners as we are committed to complying with gdpr regulations. we consider your privacy to be of utmost importance and work hard to protect it.
2020 happened and with it a pandemic, a lockdown and now, many of us are working from home. some cpm software can also provide robust and provides workflow capabilities to automate mundane financial processes and gives you the luxury of time back on your side. a tool focused on consolidation can replace the manual process of comparing multiple ledgers, integrate with different systems, bring data into a unique location, and create workflows. cpm software can also make it easy to apply credit and debit adjustments to support the financial consolidation process.
prophix has a solution called journals manager, released in the fall of 2019, that assists with entering and viewing intercompany eliminations. prophix’s workflow manager allows you to streamline your financial close process by scheduling and organizing the different components of the close cycle. as we’ve discussed, cpm software is a compelling option to help expedite the consolidation and close process. with the additional time, you can shift your focus to strategic initiatives, reduce long days and late nights, and support your business’ success.
prophix’s financial consolidation and close tools eliminate manual processes and automate recurring ones, so you’re operating as efficiently as possible. transform your business with prophix corporate performance management software for budgeting, forecasting, planning, consolidation & close icon. with prophix, you can save time on your planning, consolidation, and close processes. with the additional time, you can shift your focus to, prophix budgeting, prophix budgeting, prophix pricing, prophix reviews, prophix integrations.
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