Secure Consolidation Approval Process

PROPHIX has powerful functionality built into the suite to support detailed security and a consolidation approval processes. PROPHIX creates and helps you document your processes to demonstrate compliant internal controls. Using PROPHIX ensures that you use the same process each time and you can manage the process at each stage. These powerful tools help manage the consolidated process:

Workflow

Using PROPHIX workflow, users can define the approval process during a consolidation. Users can either employ a top-down or bottom-up approach to manage the process. This allows for appropriate revision, contribution or sign off at various junctions. It also allows a manager or executive to see who has contributed or hasn't contributed to the process. Workflow promotes greater process documentation and provides an audit trail for an organizational approval process. This gives a greater understand of  the flow of information, offers more control of the stakeholders involved, and  increases the ability to manage the entire process.

Process Manager

Process Manager is used in conjunction with Workflow to manage the entire consolidation process. Process Manager  allows you to define a series of conditions prior to running a business process. This powerful tool gives financial professionals the flexibility to set the rules of their consolidation and ensure the process is executed consistently.

Role-Based Security

Defining security is important to the entire process. PROPHIX provides multiple security mechanisms to control what users have access to. With PROPHIX, you can easily define control types, such as a specific group of users, or set up custom security based upon the individual.



PROPHIX provides a flexible but powerful security system. Ultimately, you decide how much or little a user has access to the system. PROPHIX allows you to document your organization's security is documented for reference audit review processes.

Data Conversion

PROPHIX utilizes industry-leading data connectors to move data directly from your data source into a single database so that you can perform all necessary changes before finalizing the consolidation.



PROPHIX enables organizations to quickly collect data from operating units around the world, even when these locations have disparate general ledger systems, charts of accounts, and ERP systems. Data is consolidated in line with local and international requirements, such as GAAP, Sarbanes-Oxley, and IFRS, and is stored in a single database, ensuring that everyone works with the same set of numbers.

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