Prophix Release Updates: Fall 2021
In the Fall 2021 release, we’ve enhanced Prophix’s robust reporting capabilities with cross-company communication through data visualization and AI-generated narratives.
Automatically populate a consistent, insightful, and unbiased narrative into your report notes with our Virtual Financial Analyst (VFA). Quickly identify trends and variances as stakeholders are working with the same data and details.
With our new Power BI integration agent, you can visualize Prophix forecasts, scenarios, allocations, and KPIs with external datasets within Power BI.
What’s New in the Fall 2021 Release?
New Virtual Financial Analyst Capability
As your data grows, so does its complexity. Insights uses Artificial Intelligence (AI) to analyze multiple data points to provide you with clarity on key insights and trends to help make better business decisions faster.
With Report Insights, quickly understand and present explanations of important trends and changes in your business with less friction and manual intervention. Report Insights directly generates an insightful narrative on key variance reports, so that you can spend more time acting on what drives trends, rather than looking for and documenting them. Create meaningful reports faster and empower your stakeholders to self-serve with access to a consistent narrative surrounding your business’ most important data.
Data Integration Services – Power BI Agent
Data Integration Services (DIS) is a Prophix solution for connecting to a customer’s business systems.
Contribute to broader strategic planning, and plan company goals and objectives by connecting analyzed financial data to Power BI. Achieving digital transformation means disrupting the way existing systems and data are leveraged. Tracking and visualizing strategic objectives in Power BI by integrating Prophix data paves the way for game-changing decision making. Be a catalyst in fostering a data-driven culture by integrating the forecasts, scenarios, allocations, KPIs and other Prophix data to take Power BI analysis to the next level.
Process Manager Enhancements
Process Manager is a feature in Prophix that allows users to build, test, run or schedule processes that accomplish a desired task, such as importing, moving, or manipulating data en-masse.
Row Notes Copy - Dive right into updating forecast numbers or planning for the next year by automating the transfer of row notes from version to version. Carry-forward key context between planning and forecasting versions quicker and more seamlessly, with greater confidence that nothing has been missed.
Mapping Table Import - Now in this release, with the ability to import mapping tables, scheduled imports are further stream-lined with greater accuracy. Save even more time while being assured that the import process is using the most up-to-date mapping tables.
Detailed Planning Enhancements
Detailed Planning Manager manages lower-level assumptions and calculation logic for budgeting and planning, such as CAPEX, personnel, or fixed asset planning.
In this release, with the option to turn on/off automatic posting to the Detailed Planning(DP) target cubes you have more flexibility to keep track of what’s in the latest version of a budget that stakeholders are reviewing. Test assumptions at a detailed level without having to push them to the corporate budget before you’re ready, providing you greater control over your budget workflow.
With a refreshed user interface (UI), you can easily navigate to what you need. A more open and spacious design allows you to see more of what’s important to you.
We have also made several usability improvements as part of this release. With session time-outs and the ability to view active sessions, you can keep better tabs on locks in the system. Read more about Report Binder enhancements and new data agents in our release notes.
These new capabilities are designed to transform the way our customers budget, plan, and report.