How Silafrica reached new heights with Prophix

When it comes to finance teams, accuracy and efficiency are key pillars of success. But many organizations find themselves bogged down by outdated processes, manual data entry, and inconsistent reporting – and they just live with it.

But not for Silafrica, a leader in sustainable packaging solutions. When faced with these challenges, they looked for a better way to turn their financial operations around.

Who is Silafrica?

Silafrica is a trusted name in the plastics and packaging industry, known for its high-quality, eco-conscious solutions. With locations in Kenya, Tanzania, Mozambique, and Ethiopia, the company serves major global brands like Coca-Cola, PepsiCo, Unilever, Nestlé, and Diageo.

Despite their growth and industry leadership, Silafrica’s financial processes were holding them back.

Life before Prophix

Before Prophix, Silafrica’s finance operations struggled with inefficiencies. Slow, error prone reporting was a roadblock. Financial reports were often delayed due to time spent fixing inaccuracies, which undermined confidence in decision-making and stalled strategic initiatives.

Reconciliation between HQ and subsidiaries was challenging, preventing access to critical financial information. And there was no clear ownership of finance processes, meaning that no one could make the significant improvements they needed.

To maintain their competitive edge, Silafrica needed a solution that would streamline their financial processes and establish a single source of truth.

Why Silafrica chose Prophix

Silafrica needed a solution that would automate finance processes and become the single source of truth that their team needed. Must-haves included robust financial data integration, streamlined audits – and most importantly, dynamic access to their data. Prophix One, a Financial Performance Platform, met all of their needs – and more!

• A unified platform that connects all stakeholders, from HQ to regional subsidiaries.
• In one place they could tackle financial reporting, intercompany reconciliation, operational expense planning, profitability analysis, production planning, and sales planning.
• Easy, flexible onboarding to get all users trained and comfortable using the platform, providing quicker time to value.
• Automated data integration and aggregation, resulting in less manual work, errors, and discrepancies.

The results: Key wins with Prophix

With implementation support from Magnatec Solutions, part of the Prophix partner network Prophix One’s automation and standardization have completely transformed the Office of the CFO at Silafrica.

Resolved $1M in inventory discrepancies

Automated and standardized inventory management processes, helping to resolve $1M in inventory discrepancies – significantly reducing financial risks.

Improved month-end close by 67%

Silafrica took their month-end close process from 15 days to 5 days, giving the finance team back valuable time to focus on strategic planning. Timely reconciliations also improved tax compliance and allowed for prompt, accurate filings and payments.

15% improvement in forecast accuracy

Up to date reports and automatic data integration help boost processes that can lead to improvements in operating cost forecast accuracy and cost management.

8x better audit efficiency

Audit processes got a lot faster, reducing completion time and boosting overall productivity thanks to automatic data validation.

Faster decision-making

With streamlined data entry, cleaning, and compilation, stakeholders could get accurate, real-time insights that allows for more time to focus on strategic planning. It also allowed the finance team to implement entirely new processes, like production planning and sales reporting.

Find your next strategic partner with Prophix

Beyond business outcomes, Prophix is a strategic partner for Silafrica. The result? Not only has Silafrica boosted efficiency across financial operations, but it has also laid the foundation for scalable, data-driven growth in the years to come.

Silafrica’s transformation is a testament to the power of a financial performance platform. Whether you’re resolving operational inefficiencies or planning for future growth, Prophix provides the tools and insights you need to succeed.