Your employees are your business’ greatest asset, and one of your most substantial expenses. Since payroll accounts for the majority of a company’s operating expenses, it’s crucial that you have the power to evaluate, review, and analyze how your employees impact your business’ finances.
With Prophix personnel planning, you can take advantage of a more advanced, accurate personnel planning solution. Learn how you can reach peak profitability in your labor planning efforts with Prophix.
Because your employees’ salaries are one of your largest expenses, it’s crucial that you gauge their impact on your finances. Prophix’s personnel planning capabilities reveal the impact of personnel on consolidated profit and loss statements, while incorporating variables like taxes, benefits, transfers, position changes, restructuring, commissions, bonuses, exchange rates, and incentive planning. Once you’ve captured the cost insight, you can easily forecast different scenarios and model the perfect personnel strategy.
Employee data is sensitive, and you want to ensure their data is kept safe and in the right hands. Prophix enables you to set granular access controls at the user-level to maintain data security. You can rest easy knowing that only approved users can access or edit salary information and other personnel data.
Making changes to your personnel plans can be tedious and time consuming. Now, with Prophix, automation is your greatest tool for increasing human resources productivity. Say goodbye to long IF and VLOOKUP formulas in your spreadsheets. Important calculations, including payroll taxes (FICA, FUTA, SUTA, Medicare), bonuses, salary adjustments, and fringe benefits are all automated for a more efficient and stress-free planning process.
Spreadsheets and basic human resource management systems (HRMS) are limited in their ability to calculate the impact of changes to payroll or personnel. With Prophix, all your calculations are centralized into a single solution. For example, if you change your 401(k) policy, you only need to change a single calculation to see the impact across your entire organization.
When you adopt Prophix, you won’t experience a slump in productivity as you add existing data. Prophix directly links with external payroll systems to prepopulate personnel data and correlate personnel plans with actual data for variance reporting. If you prefer to use spreadsheet extracts to load in data, the flexibility of the Prophix CPM solution has you covered.
A single solution also enables enhanced collaboration through Prophix’s Workflow Manager which simplifies data collection, communications, and tracks the approval process. Prophix allows you to hold department managers accountable by streamlining the payroll planning process. For maximum efficiency, you can incorporate manager input into your workflow, designating it as essential to a project’s progress.
Using different payroll or personnel solutions makes it nearly impossible to see data in real-time. Prophix gives you the power to store and align detailed personnel information on a single platform. Centralized personnel information also plays a key role in the unification of company-wide reporting.
[Prophix] really gives you the ability to budget at an individual person level. So, you can actually calculate telephone expense, salary expense, automobile expense at a very detailed level, which then can be aggregated up.
Michael Flanagan Financial Planning & Analysis Leader Westfield Insurance
Make your employees your most powerful resource. With Prophix, you can plan and identify how best to use your workforce for a more productive business. And, you’ll save your HR team hours of work in the process.
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