Budgeting: Collaboration, Accuracy, Streamlined. Automation for Innovation and Budget faster with greater accuracy
Budgeting and Forecasting
Tired of switching between your CRM, ERP, and payroll software to collect the data needed to build your budgets? With Prophix, data collection and consolidation is automated, condensing all relevant metrics into a single budgeting platform. This increases your data accuracy and eliminates the need for manual data input. Switching between multiple platforms and working in spreadsheets alone can easily lead to errors.
While you can’t predict the future, forecasting enables you to create data-driven predictions without the confines of formulas and spreadsheets. Your forecasts will reach new levels of consistency as you integrate all your crucial data and decision-making points into a single platform. Prophix greatly simplifies data collection and consolidation to save you time and money. Quickly and easily measure performance, manage budget versions, and reduce human intervention to improve efficiency and save time. Prophix offers an integrated, innovative way to improve your annual budgeting process, which creates more time for analysis and helps you understand what drives profitability in your business.
Personnel Planning and Scenario Planning
Because your employees’ salaries are one of your largest expenses, it’s crucial that you gauge their impact on your finances. Prophix’s personnel planning capabilities reveal the impact of personnel on consolidated profit and loss statements, while incorporating variables like taxes, benefits, transfers, position changes, restructuring, commissions, bonuses, exchange rates, and incentive planning. Once you’ve captured the cost insight, you can easily forecast different scenarios and model the perfect personnel strategy.
Proper scenario planning is complex, and time is not on your side. Prophix makes it easy to plan for the best, and the worst of times. Model any number of potential scenarios by considering the financial performance of the organization and any influencing market dynamics to build and evaluate plans to prepare for whatever the future might hold quickly and more accurately. Automation and workflow management in Prophix encourages collaboration, a joint perspective and expedites the planning process.
Sales & Revenue Planning and Project Planning
Whether you prefer top-down or bottom-up sales planning, Prophix gives you the insights and flexibility to choose what fits your business best. Improve your sales planning by aligning with strategic objectives, optimizing revenue streams, and predicting sales by product lines, territories, and drivers, with speed and accuracy. Immediately measure sales performance to identify pitfalls and change your direction to improve your bottom line.
A failed or inefficient project is wasted money. Prophix allows you to create detailed revenue and expense plans so you can constantly keep an eye on your progress. For example, you can leverage Prophix to plan for capital and personnel resource requirements. By tracking key project drivers and metrics – both quantitative and qualitative – you can monitor profitability and resource utilization with ease. Today, automation capabilities are more powerful than ever. With Prophix, you can automate the menial tasks associated with Prophix unified corporate performance management systems's budgeting.
Cash Flow Planning
Cash forecasting is not something that finance can do alone. Each department has a role to play in your cash flow planning, but with the siloed systems of the past, cross-functional collaboration has been difficult. With Prophix, everyone has access to the same data and the ability to input their information quickly, avoiding error-prone manual processes.
Thinking about how much cash you’ll need to withdraw from your Revolver account? Or how much you should put back? Let Prophix help you plan your cash flow to meet and exceed your needs. Whether you’re planning for short- or long-term events, Prophix lets you easily input your data and automates your cash flow calculations.
Capital Expense Planning
Simple adjustments to your asset listing can have a profound financial impact. With Prophix, you’re able to understand how changes to CapEx management, like adding, transferring, and eliminating tangible and intangible capital assets can directly impact your income statement, balance sheet, and cash flow statement.
While tracking depreciation and amortization can be done in a spreadsheet, it is much more susceptible to human error. With Prophix, you can create automatic depreciation calculations such as straight line, double declining balances, and sum of years. You’re also able to use key performance indicators (KPIs) to evaluate capital expenditure assumptions.
Cross Company Financial Planning
When something happens in one area of your company, how will it impact the other departments? Every department in your company has its own important role to play. Providing an integrated planning platform to your marketing, sales, operations, and finance teams helps everyone work together towards the same goals. With Prophix, you can optimize strategic planning and resource allocation, empowering your business to strike the perfect balance between revenue and expense planning for maximum profitability.
With improved analysis and a better understanding of your entire business, you’re able to quantify the financial impact and risk of every decision you make.