PROPHIX Forecasting

PROPHIX forecasting promotes increased collaboration

Ideally, the responsibility of forecasting should be on those who are most accountable, e.g. operational managers, because that would usually result in more accurate and reliable projections. Unfortunately, problems with this method include increased waiting periods and time-consuming aggregations because of the large amount of data. This typically results in a long, drawn-out forecasting process.

PROPHIX Forecasting is highly flexible within your organization

Accurate forecasting involves the scalability to respond to any change, but many companies are restricted to the amount of flexibility because of limiting system capabilities. In addition, essentials such as the ability to input several assumptions and to create numerous scenarios are often overlooked due to the misconception that more time and effort is required. These practices often prevent companies from realizing the maximum potential of their forecasting process. With the ability to overcome these issues, companies are able to plan more efficiently and forecast more frequently. With frequent forecasts, companies are able to gain more insight on multiple variables, allowing for better decision making. Trends are easier to spot when data is up-to-date, thorough and readily available.

Key Benefits of PROPHIX Forecasting

Automatic allocations - You can easily allocate revenue or expenses.

Macro-level data manipulation - PROPHIX allows you to manage your budget at both a macro and micro level.

Multi-user data entry - Rather than one person preparing a forecast, it can be a collaborative process in your organization. Multiple users can manage different elements of the forecast in a controlled fashion.

What-if analysis - Do you ever wonder what the impact of rolling out a new product line, or changing your supply chain would be. PROPHIX allows you to create detailed what-if analysis to determine the best course of action.

Flexible Forecasting - PROPHIX supports multiple forecasting options whether it is rolling forecasts or inter-period forecasting. This allows organizations to generate a forward-looking view customized to your organization.

Predictive analytics - In business, predictive models are often embedded in operational processes and activated during live transactions. The models process historical and transactional data to identify the risk or opportunity associated with a specific decision. PROPHIX allows you to analyze the risk of different business decisions to determine the best course of action for your organization.

PROPHIX Forecasting is highly accessible

With forecasting, historical data should be readily accessible. However, extracting and compiling data from various sources can be cumbersome. Many professionals rummage through disconnected systems to obtain the needed information - and even then, data accuracy may be questionable. PROPHIX allows you to get the key data out of your systems and create relevant reports and forecasts. PROPHIX allows you to extend the life of your current IT investment by creating a information platform for forecasting and reporting.