Innovative Budgeting & Forecasting Tool

We use Prophix for a variety of functions, but primary it is a repository for our financial data, and is linked up to our general ledger software. We then use the data within it for budgeting and projecting. We grant our operational partners access, manage their budgets using a process flow, and allow them to input the data. We also use it as a reporting tool, specifically creating templates built from multiple data views. These templates are then distributed to our operational partners so they may view their results. The security function is extremely important to us as well and all of our operational partners have very specific access so as to not overshare sensitive information.

Our entire budget is within Prophix so we no longer have to use excel for our planning purposes.

Ability for department and BU level reporting that enables us to look not only at Operating Margin but Contribution Margin after developing various allocations that can be housed and run within the system to allocate the indirect expense.

Designing and Formatting reports

I've felt that my experience has never changed. I received great support when I began using the system and that support continues to this day even with moving to a new company that uses Prophix. Their ticketing system and account management has always been responsive and efficient. Furthermore, the system is managed well with minimal interruptions.

Yes, our organization has benefited from Workflow and cell comments during our budget process. We are able to have VP's set to approvers so they get the workflow once their budget owners enter it. Additionally, the workflow auto submits and is linked to dates so it is very hands off once it is set up. Next, cell comments are critical to our budget. This is where support is attached for various accounts.

Yes, we use processes to populate our initial budget and actuals. These are recurring and the usage of name sets allows for easy updating of these processes.