An Electrifying Budget for Alterman Inc.
Who is Alterman Inc.?
Alterman Inc. is a leader in electrical construction and service in the central Texas markets. Their Office of Finance had difficulty managing the amount of manual work required to generate their financial statements and annual budget. With Prophix, Alterman automated their forecasting and reporting, allowing them to better utilize their manpower and predict revenues.
Business challenges
The finance team at Alterman Inc. struggled to adapt their reporting capabilities to suit their changing business needs. Several recent acquisitions made it increasingly difficult to manage formulas in Excel and many key details were missing from their reports. Alterman also had growing concerns about the human element of data validation and wanted to eliminate manual data entry errors with automation.
Applications deployed
Prophix One Financial Planning & Analysis
System integrations
Why Prophix®
When evaluating Corporate Performance Management (CPM) solutions, Alterman desired a user-friendly, adaptable, and expandable solution that could meet the needs of their growing business. Alterman’s CFO had previous experience with Cognos, which gave their finance team a greater understanding of the functionality and features they would require. Prophix and Viewpoint have a strategic partnership which helps customers maximize efficiencies by creating stronger integrations across products. When Alterman approached Viewpoint for a recommendation on a CPM vendor, they suggested Prophix. After a proposal and demo, Alterman was confident that Prophix could meet all their business needs.
Key results
Alterman chose a cloud deployment of Prophix, as they were in the process of modernizing their finance function and moving all their other business applications to the cloud. The primary focus of Alterman’s finance function after implementation was producing financial statements, as well as varying iterations of their P&L by profit and cost center.
Prophix integrates with Viewpoint’s Spectrum ERP to bring in Alterman’s G/L balances, personnel, and job-specific data. This gives their Office of Finance a better understanding of their manpower utilization and revenue predictions. Alterman is also able to tie real-time job data to their company forecast, giving them strategic insight into the health of their business.
The finance team at Alterman is no longer required to review and analyze rigid Excel-based reporting month-over-month, which gives them time to analyze the financial progress of their projects
Prophix One™ enables Alterman to:
Reduce their budgeting time from about 3 days to 8 hours to create a complete budget.
Focus on producing financial statements and multiple iterations of P&L by profit and cost center.
Gain better insights into manpower utilization and revenue predictions.
Connect real-time job data to company forecasts for strategic decision-making.
in action
