PROPHIX Consolidation

Flexible Consolidation

Each organization is unique and has different requirements for managing their consolidation process. PROPHIX recognizes this and has designed the suite with that in mind. PROPHIX allows you to manage multiple consolidation scenarios.



Consolidate your organization based upon different requirements such as geographic region, product line, division and multiple structure versions for example, this year's results versus last year's results. This allows any finance professional the flexibility to understand the linkages between companies, divisions, products and territories.

Controlled Consolidation Process

Controlling the accuracy of data in reports involves overcoming security concerns. Without the ability to effectively manage access to reports and restrict data manipulation, data integrity is jeopardized.




With PROPHIX Reporting, security issues are solved by administering user access and monitoring audit logs. There is no need to be concerned over unauthorized personnel manipulating data and essentially corrupting data, calculations or reports.

Accuracy of PROPHIX Consolidation

When an organization attempts to consolidate many divisions or separate companies, it can create a host of issues. The accuracy and quality of the final numbers are vital to an organization. Typically, many organizations use a series of spreadsheets or other tools that provide limited support for consolidation.




PROPHIX eliminates this mess and allows you to manage multiple data sources and information directly. Using state of the art ETL (Extract Transform Load) processing you can easily turn multiple data sources, via ODBC, into a usable format. The result is a faster, more reliable and accurate process.

Key Benefits of PROPHIX Consolidation

Strengthen Confidence in Financial Results and Controls - Tight integration between financial reporting and compliance certification processes will help you meet accelerated reporting deadlines and expanded disclosure requirements with confidence.

Streamline Inter-Company Eliminations - Inter-company eliminations can be a time-consuming task that can compromise the accuracy of your final numbers. PROPHIX provides a framework for the inter-company elimination process, enabling transparency into corporate transactions at all levels.

Quickly Adapt to Dynamic and Complex Business Conditions - An open architecture that rationalizes data from disparate systems into a single, actionable source of truth will allow you to adapt to changing business requirements quickly and seamlessly. The flexible model structure enables organizational changes to be reflected immediately.

Provide a Basis for Enterprise-Wide Performance Management - A unified analytic platform will provide a foundation for evaluating business strategies, and aligning strategies with operational plans. The PROPHIX suite includes reporting, budgeting, business modeling, personnel/resource planning, forecasting, consolidation, analytics, and business process management.

Consolidate and model data from multiple business perspectives - PROPHIX makes it easy to consolidate based upon different requirements such as geographic region, product line, division, etc., and multiple versions, for example, this year's results versus last year's results.

Support for Industry Standards - Conforming to industry standards is important for organizations. PROPHIX supports industry standards including IAS, IFRS, FASB, and GAAP.

Currency Modeling - PROPHIX modeling includes basic functionality to review and manage the implications of currency across your organization.

• Learn more about PROPHIX Currency Consolidation

Built-in Analysis Module - PROPHIX supports highly flexible real-time analytics to manage rapidly changing business plans. Enter potential changes in organizational structures and immediately see how it impacts your organization. Using drill down or drill across functionality users can access source data directly from reports.

• Learn more about PROPHIX Consolidation Analysis

Built-in Reporting Suite - PROPHIX provides organizations with a single financial information platform to turn consolidated reports into real-time reports. Consolidate your organization and prepare boardroom quality reports suitable for any presentation or formal report. Instead of wasting time translating results from spreadsheet to spreadsheet, you can confidently produce your consolidated financials in a fraction of the time. With PROPHIX, you can easily produce reports such as P&L, EBIDTA, Balance Sheet, Cash Flow, Equity, Fixed Assets and more. In addition, high-level reports can be directly linked to transactional details to support more detailed analysis.

• Learn more about PROPHIX Reporting
• Learn more about PROPHIX Consolidated Financial & Management Reporting
  

Alternate Roll-ups and Consolidation Modeling - PROPHIX allows you to manage your consolidated reporting process through alternate roll-up structures. Some organizations require that financial results are to be reported in different roll-up structures depending on the requirements of stakeholders. PROPHIX allows you to roll up your consolidation by time, division, entity, product line or any other defined variable required in the process.

• Learn more about managing multiple roll-ups with PROPHIX
  

Take the next step > Contact a customer service representative to find out how you can leverage PROPHIX Reporting in your business.
Call - 1 (800) 387-5915 or 905-279-8711
E-mail - slawson@prophix.com