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Testimonial
"We do pages that report expenditures and costs by department, by division...We provide a lot of detail back to the division chiefs and department chiefs, if they want to check who’s spending money, what it’s being spent on, etc."
Electric Power Board Gary Hurst, Manager Corporate Accounting
Capital expenses (CapEx) are vital to your organization and it is crucial to track them for accounting and reporting purposes. Due to depreciation, asset relocation, or the sheer number of capital expenses in an organization, it can be hard to track the actual value of your assets.
With Prophix’s integrated capital expense planning capabilities, you can plan the true value of your capital expenses and use that information to maintain profitability throughout your different departments.
Learn how Prophix helps you plan for your capital expenses.
Free Whitepaper: Your Guide To Better Planning
Access This Guide on Creating Accurate Business Plans
Prophix Capital Expense Planning: Insight into Your Assets
Improve Your CapEx Management
OTHER BENEFITS INCLUDE
Identify Impact
Simple adjustments to your asset listings can have a big impact. With Prophix, you’re able to understand how changes to CapEx management, like adding and eliminating tangible and intangible capital assets, directly impacts your income statement, balance sheet, and cash flow statement.
Accurately Calculate Depreciation
While tracking depreciation can be done in a spreadsheet, one error could impact every calculation. With Prophix, you can create automatic depreciation calculations such as straight line, double declining balances, and sum of years. You’re also able to use key performance indicators (KPIs) to evaluate capital expenditure assumptions.
Monitor Actual Expenses
Plans change, so it’s important to keep track of actual expenses, instead of projected ones. With CapEx management capabilities, you can conduct variance analysis at a detailed level. Import data into Prophix from multiple sources (ie. ERP or G/L) to have one central repository of information for analysis.
Empower Managers
Managers are often the ones held accountable for capital expenses in a company. So, they need an easy-to-use tool to help them track how and why money is spent. Prophix allows stakeholders to investigate their costs and justify their budgets, achieving greater accuracy and accountability by involving operational department managers.
Track Patterns
Are there types of capital expenditures impacting your company’s profitability? With Prophix, you can review historical CapEx spending patterns, identify potential issues, and outline projections for the future.
Save Time
Eliminate manual steps and benefit from the automation of capital expenditure calculations. Prophix gives you the insight needed to see how adjustments to additions, depreciation rates, repairs, and maintenance affect the bottom line and impact your company.
Prophix saves your company time and gives you data needed to accurately plan for your capital expenses. You’ll ensure your money is spent the right way and each expense is accurately reported.
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