Dependable FP&A Solution

Monthly comparative reporting specific to various stakeholders. Summarised reporting contains totaling accounts and KPIs with granular reporting down to individual GL level. Drill Across feature allows end users to reveal transactional details making up GL movements. Reporting scope for each user is subject to their security, typically based on cost centres. Budget is collected for the first year monthly with annual extrapolation to the subsequent year. Prophix workflow is used to manage budget collection and approval process with optional budget data snapshots in separate versions. The most recent forecast is used to seed budget data with adjustments such inflation applied to nominated accounts. Combination of approved budget and YTD actuals forms a basis for quarterly forecast. Collection and approval mechanism follows budget pattern. Subject to a substantial change in business operating environment, ad-hoc reforecasting is performed. Both forecast and budget benefits from several detailed models operating below GL line, such as personnel at employee or group of employees level, capex at an individual asset level and sales at customer level with a room for growth. Overall, Prophix system is flexible to account for specific needs and easy to maintain as the business environment evolves.

Excel is very flexible in terms of its layout with a wide application to across the business. It however poses a challenge in terms of data integrity, collaboration, interaction with source systems and a need for constant maintenance. Prophix addresses these issues with added benefits of a robust and scalable application. Prophix is aimed at finance team, not IT team with low learning curve and easy to use interface. Finance team ownership is conductive to maintaining the solution in line with evolving business needs.