INTERCOMPANY MANAGEMENT

Reconciliation with assurance in the results

Increase accuracy

Eliminate the time and errors associated with manual data collection by integrating disparate data sources into Prophix, which automatically structures data, enabling you to quickly start the reconciliation process versus wasting time collecting and formatting it. By automating data imports, providing intelligent data mapping and build-in validation rules; Prophix ensures a smooth and reliable data collection process, simplifying the collection of data from other business systems without needing to involve IT.

Empower subsidiaries

Evolve your reconciliation process by empowering legal entities to actively carry out transaction-level matching and issue resolution, while maintaining centralized oversight and control over the process. Prophix enables entities to reconcile their part of the transactions and to resolve issues, eliminating the need for a middleman, such as a group accountant.

Improve collaboration

Improving team collaboration by serving as a single, unified source of truth for all of your transactional data. By driving collaboration through status updates, notifications, comments, and file sharing all within a single, user-friendly environment, Prophix will keep stakeholders better informed and more aligned contributing to a more efficient reconciliation process.

Streamline intercompany reconciliations for faster, more accurate close

Reliably collect data without needing IT.

Eliminate errors in data gathering from disparate accounting systems.

Empower entities to reconcile independently.

Speed up the financial close process

A solution for every leader

Chief Financial Officer

Provide data clarity to empower your organization to drive financial performance and be prepared for the road ahead.

Head of Consolidation

Achieve your compliance and reporting goals with greater data confidence to expedite business decisions.

Consolidation Manager

Improve the efficiency and reliability of your most time-taking processes with automated data collection and validation.

Made for finance leaders

Discover our platform and unlock your potential for successs.

Financial Close

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

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Financial Consolidation

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

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Integrations

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

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Frequently asked questions

Does Prophix generate audit reports?

Yes, Prophix was designed with an audit perspective in mind. It allows for full auditability of data changes and provides complete audit reports.

How does Prophix help automate the close process?

There are many ways Prophix helps to reduce manual tasks. Users can automate data imports, consolidations, elimination entries, allocations, currency conversions, and report assembly, report distribution and more.

How does Prophix use artificial intelligence to speed up close?

The Prophix platform has a capability called anomaly detection. Using the power of machine learning, it analyzes general ledger and subledger 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.

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in action