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FINANCIAL CLOSE
It’s time to stop struggling with close manual processes and disconnected spreadsheets. Start closing with predictable speed and confidence.
Leveraging a platform purpose-built to accelerate financial processes, Prophix automates time-consuming tasks like account reconciliation, inter-company eliminations, currency translations, journal entries, report assembly, and distribution to shrink your close windows. Eliminate manual processes and automate the recurring ones, so you’re spending less time looking back and more time looking forward!
Prophix’s data collection and system integration capabilities help significantly improve the speed and reliability of data reported in the financial close process.
Whether disparate systems or geographies separate you, siloed data won’t hold you back. Employing automated imports, seamless data integrations and custom validation rules, data mapping, and automated reporting Prophix ensures your data remains reliable and accurate from upload to reporting.
The need for transparency and data traceability is paramount. Prophix 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 ready-to-use and configurable audit report templates, Prophix enables auditors with the tools and transparency they need to self-serve and streamline the audit process.
Financial close is a complicated process that already takes too long because many tasks are manual and are further delayed by outlier transactions that require time-consuming error correction that can affect the accuracy or introduce risk.
Anomaly detection analyzes 100% of an organization’s general and sub-ledger data for outliers and then highlights actionable insights. Leveraging machine learning AI, it detects and surfaces unusual transactions and organizes them by risk rating expediting their discovery and resolution. The result is a faster and more accurate financial close with less risk.
Meet close deadlines by collaborating more efficiently across multiple locations.
Reduce errors by eliminating manual data gathering from disparate accounting systems.
Accelerate decisions with fast and accurate reporting.
Provide data clarity to empower your organization to drive financial performance and be prepared for the road ahead.
Automate processes and unlock your analytical mind with on-demand analysis and monitoring of cash flows.
Achieve your compliance and reporting goals with greater data confidence to expedite business decisions.
Discover our platform and unlock your potential for successs.
Streamline close windows by eliminating manual processes and automating recurring ones.
Streamline inter-company reconciliations for faster, more accurate closes.
Expedite your close process and have confidence in the results.
Easily integrate with your business systems to capture and share data.
Yes, Prophix was designed with an audit perspective in mind. It allows for full auditability of data changes and provides complete audit reports.
There are many ways Prophix helps reduce manual tasks. Users can automate data imports, consolidations, elimination entries, allocations, currency conversions, and report assembly, report distribution, and more.
The Prophix platform has a capability called anomaly detection. Using the power of machine learning, it analyzes general ledger and sub-ledger transactions (accounts receivable, accounts payable, and subsidiary ledgers) to provide you with deep analysis of your data to uncover outliers, errors, and possible fraud to expedite their resolution for a faster close using clean data.
in action 350 Burnhamthorpe Rd. West, Suite 1000
Mississauga, Ontario
Canada
L5B 3J1
Tel: +1-905-279-8711
Toll-free: +1-800-387-5915