Increase accuracy in intercompany reconciliations process
Eliminate manual data collection hassles and errors involving multi-entities and multi-currencies by seamlessly integrating disparate data sources into Prophix. Prophix automatically structures the data to elevate your financial accuracy and operational efficiency. By automating data imports and using intelligent data mapping with built-in validation rules, Prophix ensures a smooth and reliable data collection process. Say goodbye to wasted time collecting and formatting data – Prophix’s Intercompany Management solution streamlines the entire process without the need for constant IT involvement to ensure accuracy in your intercompany transactions.
Empower subsidiaries and maintain financial control
Evolve your financial reconciliation process by empowering legal entities to actively carry out transaction-level matching and issue resolution across your intercompany sales and purchases, while maintaining centralized oversight and control over the process. Prophix enables entities to reconcile their part of the transactions and to resolve issues independently, eliminating the need for an intermediary, such as a group accountant. Enhance compliance, governance, and financial insight within your financial operations to make informed decisions and optimize global consolidations across your corporate structure with Prophix.
Improve collaboration for a faster financial close
Improve team collaboration with a single, unified source of truth for all of your transactional data. Maintain a detailed audit trail of data changes, adjustments, and matching rule modifications for transparency and accountability. Drive collaboration through status updates, notifications, comments, and file sharing all within a single, user-friendly environment. Prophix’s Intercompany Management solution enhances communication and keeps stakeholders better informed and more aligned for an efficient intercompany reconciliation process.
A solution for every leader
Chief Financial Officer
Provide data clarity to empower your organization to drive financial performance and be prepared for the road ahead. Learn more
Learn moreHead of Consolidation
Achieve your compliance and reporting goals with greater data confidence to expedite business decisions. Learn more
Learn moreConsolidation Manager
Improve the efficiency and reliability of your most time-taking processes with automated data collection and validation. Learn more
Learn moreMade for finance leaders
Discover our platform and unlock your potential for success.
Automate reconciliation, consolidation, and reporting to shrink-close windows, with greater accuracy. Learn more
Learn moreStreamline close windows by eliminating manual processes and automating recurring ones. Learn more
Learn moreEasily integrate with your business systems to capture and share data. Learn more
Learn moreFrequently asked questions
Yes, Prophix was designed with an audit perspective in mind. It allows for full auditability of data changes and provides complete audit reports.
Prophix helps to reduce manual tasks. Users can automate data imports, consolidations, elimination entries, allocations, currency conversions, and report assembly, report distribution and more.
The Prophix platform has a capability called anomaly detection. Using the power of machine learning, it analyzes general ledger and sub-ledger transactions (accounts receivable, accounts payable, and subsidiary ledgers) to provide you with deep analysis of your data to uncover outliers, errors, and possible fraud to expedite their resolution for a faster close using clean data.
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