Streamline your financial reporting process
Transform your period report process by automating report creation and distribution. With the ability to roll-over period reports with centralized time references and make chart of account changes that dynamically reflect across all reports, you can transform a historically manual process into a highly efficient and automated system. Schedule report distribution to key stakeholders, eliminate manual data entry errors, and truly achieve a hands-free period reporting process.
Create meaningful reports faster
Quickly understand and present explanations of important trends and changes in your business using AI-generated report narration. By having an insightful narrative on key variance reports generated for you, you can spend more time acting on what drives trends, rather than looking for and documenting them.
Hear from real customers
Work through all levels of financial data with ease
Your reports should be intuitive to read but be more than just a stand-alone deliverable. Easily dive into detail and leverage visual tools to tell a story about your underlying data.
Optimize processes and create trust in your financial reporting
Made for finance leaders
Discover Prophix One and unlock your potential for success.
Accelerate financial processes and improve collaboration.
Utilize AI to gain a deeper understanding of your business.
Easily integrate with your business systems to capture and share data.
A dedicated pursuit to provide a trusted and secure financial performance platform.
Frequently asked questions
What are the benefits of using financial reporting software?
Prophix One's financial reporting software improves the efficiency of finance teams by automating routine tasks such as report creation, rolling forward reports to new periods, and distributing board books. It democratizes data access, allowing employees outside the finance team to perform analyses and make informed decisions. Automated monthly reporting saves time at every close, providing instant, accurate reports. Furthermore, data is automatically refreshed from ERP systems, ensuring that reports always reflect the most current information.
What is narrative reporting in financial accounting?
Narrative reporting relates to reporting outside of standard financial statements, which can include qualitative information on a company’s performance as well as non-financial data. Narrative reporting is used by stakeholders to make more informed business decisions. With financial reporting software, data is brought together from disparate systems into one environment to facilitate easy data comparison and report creation. Prophix One utilizes its native data integration capabilities to bring all your company's data together, and with Prophix One Financial Planning & Analysis, narrative reporting becomes a hassle-free process with the ability to embed narrative text and even external links within reports that contain both financial and non-financial data.
How customizable is financial reporting software?
Financial reporting software should be customizable to accommodate different charts of accounts, create and manage statistical or calculated accounts, and have little maintenance when it comes to rolling over from period to period. In Prophix One, it is easy to make chart of account changes that reflect dynamically across all reports, so that report maintenance is virtually non-existent. Complex calculations that reference various GL string counterparts can be configured to maximize flexibility in analyzing key financial and non-financial data.
See
in action
×
