An Electrifying Budget for Alterman Inc.
Who is Alterman Inc.?
Since 1923, Alterman has provided electrical construction on many of San Antonio’s most impressive landmarks and contemporary structures. By integrating cutting-edge technologies with core values and disciplines, Alterman has successfully met the expanding needs of commercial and industrial clients and has earned the confidence of Owners, Construction Managers, General Contractors, Architects, and Engineers. Alterman is an EC&M Top 50 market leading electrical contractor focused on safety, quality, and customer satisfaction with a strong commitment from their employee-owners to excellence throughout the organization.
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 Consolidation
Prophix One Financial Planning & Analysis
Prophix One Reporting & Analytics
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
