Introducing the Prophix Financial Performance Platform

Export of consolidated data to other Prophix applications

Prophix simplifies data collection with other business systems with Data Integration Studio, an easy-to-use application that centralizes the secure exchange of data.

In this release, we’re introducing a new capability to move consolidated data to the platform and make it available to the other Prophix apps, such as FP&A.

New view into the Bundle Validation Report

Accurate data is crucial. Bundle validation checks the consistency of all local figures using the system validation rules.

We have added a new preview screen for Bundle Validation Reports allowing for changes to be made to the report prior to generation. This includes:

• Summary table that gives an overview of the error status
• Filters that will impact the rest of the displayed information, either by showing all journals, only the journals that have errors, or journals with warnings
• Download button that will generate a PDF or XLS version of the report

Standard Manual Data Entry page improvements

In this release, we’ve simplified the manual data entry process by adding a number of new features, including the ability to filter data displayed in the manual entry page using a dropdown function.

The icons for Flows, Dimensions and Participations have been expanded and will now show an exclamation mark indicating that there are differences to justify.

Other improvements to the manual data entry pages include the ability to filter data shown in the Analytical Dimensions page and a new Delta button to the Adjustments menu which allows users to allocate remaining amounts to a partner automatically.

Lastly, we have added a new option to display accounts with differences to justify in the Flows Page, making it much easier for you to find and validate the data.

Option to duplicate events, eliminations and their codes

Improving efficiency is a continuous goal in our app development. By introducing the ability to duplicate existing events, event codes, eliminations and eliminations codes,we aim to further decrease the time spent on manual manipulations in the application and reduce the risks of errors.

Advisor 2023.1 (August 2023)

We’ve captured decades of Prophix Customer Experience expertise and automated the ability to check the health of your models with Advisor. Advisor gives administrators feedback on model performance and optimization to ensure the best possible experience with Prophix.

Intercompany Management 2023.2 Release (June 2023)

The Intercompany Management 2023.2 Release makes significant strides in our journey towards a unified platform experience. Our users will enjoy a new and improved UI, Data Integration and reporting capabilities.

UI Improvements

We have made important steps towards a unified User Experience across our platform, including changes to our primary color palette, for fonts, buttons, and tabs, and an improved look for tables and grids.

Data Integration

With this release, we are introducing a connector to Data Integration which will ensure a smooth data flow from Enterprise Resource Planning (ERP) applications, both on prem and cloud. DI is an easy-to-use application that centralizes the secure exchange of data between Prophix and other business systems.

New option to export a customized Analysis Report

We have improved the reporting capabilities of our application, adding a new custom reports feature. Up until now, you have been able to generate reports but could not customize the template.

Now, our Intercompany Management application allows you to tailor your reporting packages to your needs, thereby leveraging the full power of your data to give you visibility into your business’s health. Administrators can upload an Excel template into which the users can add their data and export it in a format of their choice.

A new optional Rule for Debit/Credit matching

In this release, we introduce a new rule to the Intercompany Matching Rule screen. The purpose of this new feature is to be able to compare the invoices (Credit) with the purchases (Debit) of 2 partners without being impacted by Credit Notes that can have the same invoice number.

The new rule has 3 setting options: Credit, Debit and All. If selected, the group of transactions created by this rule would only consider the following amounts in the Company or Partner selections:

- Debit: only transactions that have a Positive net amount

- Credit: only transactions that have a Negative net amount

- All: transactions that have a Positive or a Negative net amount

New widget

We have added a new difference code widget to your homepage. This widget provides instant information about each difference code's meaning, keeping you better informed, at all times.

New shortcut directing to a company’s Status board

Save valuable time with a new shortcut added to the Dashboard tab of the Content Panel page so you can easily view every listed company’s status board page. In the company table, a direct link to the status board page is implemented under every Company Code and Company Name.

New optional selection fields for Data Export

We have improved our data export capabilities adding a number of optional fields, so you can include more information in the export.

Additional fields include:

• Company Name
• Partner Company Name
• Account Description
• Intercompany Rule description
• Difference Type description

Financial Consolidation 2023.2 Release (June 2023)

The latest release of our application brings exciting new improvements to all our users. We have made significant progress towards the deeper unification of our Financial Consolidation application with the Prophix platform. A key part of this process includes adding smooth integration capabilities powered by our Data Integrations application as well as introducing improvements to the app UI bringing it closer to the Prophix platform experience.

UI Improvements

With this release, we have made important steps towards unifying the User Experience across our platform. UI improvements of the Financial Consolidation app include changes to our primary colour palette, the styling for font, buttons, and tabs, an improved look of tables, grids and backgrounds.

Data Integration

With this release, we are introducing a connector to Data Integration which will ensure a smooth data flow from other business systems such as ERPs, CRMs and so forth. DI is an easy-to-use application that centralizes the secure exchange of data between Prophix and other business systems.

Import ‘Calculated Accounts’ from Excel files

Excel interoperability is further improved with a new data import feature that simplifies the set-up and update of calculated accounts’ summation structures. This enhancement results in quicker, easier and error-free management of calculated accounts.

Financial Planning & Analysis 2023.2 (May 2023)

As of 2023, our CPM application is now Financial Planning & Analysis.

With this release, Prophix has improved the user experience. We’re making additional resources more accessible within the application and giving you more modeling options for custom fiscal years.

Time Dimensions with custom fiscal years

Time Dimensions with custom fiscal years are now easier to maintain. New modelling options give administrators additional flexibility to accommodate a 53rd week and other complex changes to the structure of their fiscal years.

Additional Resources menu

Explore more of Prophix with the additional resources menu.  Easily access Help documentation, Get Started with Embedded Enablement,  take a course with Academy, or any of the other available resources.

Want to learn more?

Visit Prophix Academy for an in-depth lesson. Please note: an Academy membership or CSP subscription is required to access these lessons.

• Extending the Time Range – requires registration in the Administrator course.
  

Migrate to cloud

Are you an on-premise customer? Learn more about migrating to the Prophix Financial Performance Platform.