Prophix One Financial Consolidation is an intelligent software solution that helps finance teams:
Eliminate consolidation complexity
Financial Consolidation software was developed by experts who understand the unique requirements for a streamlined month-end close process. Leveraging best practices, it removes the complexity of consolidation by automating processes like multi-currency translations and sub–consolidation, ensuring multi-GAAP and IFRS compliance and much more to reduce the need for expensive customizations. Regardless of your group structure, depth, or unique chart of accounts, Prophix can execute complex account consolidations in seconds for faster insights that drive better business outcomes.
Built-in customizable audit reports
The need for transparency and data traceability is paramount. Financial Consolidation software enables the creation of detailed and fully customizable audit reports when needed, simplifying and expediting internal or external audit processes and significantly decreasing the cost and resources spent on audits. By providing user licenses specifically tailored for auditors and a library of configurable audit report templates, Prophix One gives auditors the tools and transparency to self-serve and streamline the audit process ensuring the accuracy and integrity of your consolidated financial statements.
Financial consolidation success stories
Why people love Prophix
Thanks to our dedicated and hardworking customers, we have one of the highest customer satisfaction scores in the industry. Their feedback and direction help make us the best Financial Performance Management Platform on the market—Prophix’s usability, availability, and performance support business strategies for today and tomorrow. We appreciate every user who took the time to share their experience with other finance professionals looking to transform their finance function.
Holistic AI-powered platform
From cash management and lease accounting to account reconciliation, intercompany management and tax reporting, the entire financial close process is addressed in a single solution. With an AI-embedded platform at the core, workflow automation, seamless collaboration and real-time data validation allow for a faster, more confident close.
Quick time to value
Quick and easy implementation with starter kits and templates, combined with out-of-the-box consolidation logic ensure quick time to value. Built for and owned by finance teams, Prophix One Financial Consolidation empowers users to manage processes independently, without costly reimplementation or external consulting, significantly reducing the total cost of ownership over time.
Robust modelling
Sophisticated models that support effortless sub-consolidations as well as multi-currency, multi-lingual and multi-GAAP requirements, enable organizations to address the most complex consolidation needs. Changing organizational structures and ownership models are managed with ease, helping organizations stay future-proof and resilient as they navigate evolving economic and regulatory environments.
Comprehensive disclosure management
Complete financial statement suite following local GAAP and IFRS requirements, built in audit trails, a library of 140+ out-of-the box audit reports, and an integration with Microsoft 365 addresses all disclosure and reporting needs.
Automated eliminations and currency translations
Automated intercompany reconciliation and eliminations as well as currency translations with ECB and MAS integration, reduce manual effort and ensure consistency and auditability of data. Validation reports flag discrepancies right away, enabling quick resolution through local adjustments and automated journal entries.
Agile scenario planning
Built-in scenario and what-if analysis enable finance teams to evaluate the impact of structural or operational changes - such as acquisitions or reorganizations - on consolidated results, supporting faster, more confident decision-making. Because of the unique way consolidation is structured, in periods, Prophix One Financial Consolidation offers unmatched flexibility and speed in building and running scenarios of even for the most fundamental changes, in seconds.
Additional resources
Made for finance leaders
Discover Prophix One and unlock your potential for success.
Reporting & Analytics
Increase data accuracy and reporting efficiency, affording you more time for valuable analysis.
Account Reconciliation
Collaborative account reconciliation for smarter, faster financial close.
Cash Flow Planning
Accurately project and monitor your organization’s cash flow.
Intercompany Management
Automated, collaborative intercompany eliminations for faster financial consolidation.
Financial Close
Automate reconciliation, consolidation, and reporting to shrink-close windows, with greater accuracy.
