Direct Data Integration: Collect Directly from the Source
Analysis Has Never Been Easier
All of your financial processes – budgeting, reporting, consolidation, and more – are dependent on data, making it the foundation for all of your important decisions. But, there are a number of problems you can run into when it comes to data collection. Manual processes are prone to error and time consuming. It’s difficult to be sure that data gathered manually is still accurate and relevant.
Prophix’s data experts have created a way for data collection and integration to be easier than ever. Now, instead of manual collection processes, you can integrate data into your reports directly from the source. Direct data integration transforms both the way you work and the areas where you can focus your efforts.
Free Whitepaper: 5 Signs Your Data is Letting You Down
Prophix Direct Data Integration: Revolutionizing Data Analysis
Rely on a Single Version of the Truth
Analyze Real-Time Data
You likely use data from multiple sources like ERP, personnel, and accounting solutions. With Prophix, you can easily integrate data from multiple source systems and ensure the data you’re using is current. You can also load data into Prophix using a selection of methods depending on your company’s needs. These methods include fully automated scheduled imports, on-demand imports as needed, or as part of a logical workflow process.
Simple for Anyone to Use
Prophix’s Import Data Wizard features a simple interface, which any business user can master without relying on IT assistance. The user-friendly, self-serve dashboard and eye-catching visuals integrate with your data and embed web content via URLs that are linked directly to external web-based solutions.
Rely on Accurate Data
There’s no need to worry about data being accurate. Prophix automatically detects errors during data imports, sending notifications to key stakeholders. This enables users to immediately correct any problems that occur. And, you can leverage automated data mapping and cleansing to easily align information from disparate systems, reducing the occurrence of errors and guaranteeing consistency.
Better Data for Better Decisions
Prophix empowers you to master the management of organizational structures, charts of accounts, hierarchies, and more. These models draw from a centralized database, ensuring that all decisions made within the company are based on a single set of data, eliminating data duplication. Also, you avoid disruptions when acquiring new subsidiaries, since this typically requires changes to consolidation processes.
Can Prophix handle top-down budgeting with complex allocations?
Yes. Users can enter data at a high-level in a dimensional structure, and have that data automatically allocated to lower-level members. For example, revenues can be entered quarterly at the company level and spread down to cost centers.
Can Prophix easily pre-populate budgets with historical data?
Yes. Prophix allows you to import historical data to pre-populate your budget. For example, you can create a new budget based on a combination of last year’s actuals and existing forecasts.
Can budgets be “locked” to the submitter once their individual budget is approved?
Yes. Prophix gives you the flexibility to lock your budgets at any level – by user, budget sheets, even individual cells. For example, as part of a budget workflow users can submit a department budget to their manager for approval. The manager can then lock that department budget, or individual cells within that budget, assuring the approved values won’t change.
Can Prophix allow for long range (+5 year) planning?
Yes. There are no limits to the number of periods you can plan for. For example, RACER Trust used Prophix to project holding costs 100 years into the future to reflect their ownership responsibilities. Read the user story here.
Ready to Leave Your Budgeting Spreadsheets Behind?
Improve organizational agility, gain efficiencies within your department and realize the business value that comes with a budget that is accurate, auditable, and collaborative. You’re empowered to make rapid budgeting decisions, with all the essential insight. Choose Prophix for your budgeting software, and reap the benefits of automation at every step.