INTERCOMPANY RECONCILIATION SOFTWARE

Automated, collaborative intercompany reconciliations

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Empower subsidiaries and maintain financial control

Evolve your intercompany reconciliations by empowering subsidiaries to carry out transaction-level matching and issue resolution across intercompany sales and purchases. Prophix One Intercompany Management makes it easy for entities to reconcile their part of global transactions and to resolve issues independently, all while you maintain oversight and control over the process. Eliminate the need for an intermediary, such as a group accountant, and enhance governance and financial insight within your financial consolidations process, driving financial accuracy and operational efficiency at your company

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Increase accuracy in intercompany reconciliations process

Eliminate manual data collection hassles and errors involving multi-entities and multi-currencies by seamlessly integrating disparate data sources into Prophix One and automatically structuring the data to elevate your financial accuracy and operational efficiency. By automating data imports and using intelligent data mapping with built-in validation rules, Prophix One ensures a smooth and reliable data collection process. Say goodbye to wasted time collecting and formatting data – Prophix One Intercompany Management streamlines the entire process without the need for constant IT involvement to ensure accuracy in your intercompany transactions.

Next-Gen Finance with Prophix One™

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Achieve a more accurate close with intercompany reconciliation software

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Reliably collect data without needing IT.

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Eliminate errors in data gathering from disparate accounting systems.

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Empower entities to reconcile independently.

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Speed up the financial close process.

TRUSTED BY OVER 3,000 CUSTOMERS

Driving data confidence and operational efficiency

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Umicore Group

Umicore Group needed to consolidate 132 entities. With Prophix One, Umicore optimized intercompany reconciliation at the group and entity level, reducing manual work and gaining two days back in the account close process.

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Duvel

Duvel performed four complex consolidations a year, with 40 entities and 4 currencies at play due to the unique group structure. With Prophix One, Duvel decentralized data entry responsibility and improved the speed of reconciliation, resulting in a more efficient close.

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Gameloft

“If I had to choose three qualifiers, they would be ‘serious, competent and fast.’ The project was implemented quickly, enabling us to work autonomously with the application nearly immediately.” – Director of Consolidation

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Improve collaboration for a faster financial close

Improve team collaboration during your financial close with a unified source of truth for all your entities’ transactional data. Maintain a detailed audit trail of data changes, adjustments, and matching rule modifications for transparency and accountability. Drive collaboration through status updates, notifications, comments, and file sharing all within a single, user-friendly environment. Intercompany Management improves communication and keeps stakeholders better informed for an efficient intercompany reconciliation process, and ultimately a smooth financial consolidation.

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Finance as we know it is changing

What does next generation intercompany reconciliation software look like for the Office of the CFO? Learn how to research, evaluate, and purchase intercompany management software with the Ultimate Guide to Next-Gen Finance.

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Join 3,000+ customers who are transforming the Office of the CFO

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We use to have a million tab excel file that consolidated trial balances, converted the currencies, and eliminated intercompany balances. It was prone to errors and was never correct. Prophix helped make those steps easy and we close the books with confidence now. I highly recommend.
Thomas Scott
Director of Financial Planning & Analysis, Echelon Supply & Service
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Made for finance leaders

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Financial Consolidation

Streamline close windows by eliminating manual processes and automating recurring ones.

Financial Consolidation

Automate reconciliation, consolidation, and reporting to shrink-close windows, with greater accuracy.

Financial Close

Increase data accuracy and reporting efficiency, affording you more time for valuable analysis.

Financial Analytics

Accelerate financial processes and improve collaboration.

Platform: Workflow

Easily integrate with your business systems to capture and share data.

Unified Data Integration

Frequently asked questions

What is intercompany reconciliation software?

Intercompany reconciliation software is a specialized type of enterprise resource planning software designed to streamline and automate financial transactions and operations between entities within a single corporate group. Intercompany reconciliation software helps manage and reconcile intercompany transactions, ensuring compliance with accounting standards and reducing the risk of errors and discrepancies.

Intercompany reconciliations relate to the accounting activity between the subsidiaries of a corporation that owns more than one company. Intercompany reconciliation verifies the transactions that occur between these legal entities for accuracy. Account reconciliation is the reconciling of an account balance to a specific data source. Prophix One Intercompany Management is an intercompany reconciliation software that empowers subsidiaries in their transaction matching and issue resolution with its native data integration  capabilities and robust dashboarding and audit reports that keeps everyone on track and accountable.

Intercompany reconciliation software can automate the financial close process by providing a robust way to track close progress and allow users to intuitively match and verify transactions, all while integrating data from disparate source systems, ensuring all intercompany data is captured. Prophix One Intercompany Management automates the close process in several ways. Users can automate elimination entries and manage them easily at both local and global levels. Data imports and rule validations ensure data accuracy and reliability. Automated currency conversions provide a clear view of intercompany activity across all subsidiaries.

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