Sustainability Reporting Automation

Background

Many corporates have not yet realised how onerous it will be to collect sustainability reporting on an ongoing basis in a fast and accurate manner. In fact many of the underlying business processes that need to supply the information have not been set-up to produce the level of information. In order for sustainability reporting to make the grade, the information will need to be accurate and auditable from the reports given to stakeholders all the way to where the data originates from. 

Spreadsheets may cover the gap in the short term, but companies wanting a sustainable, fast and reliable process will need to automate the process and ensure that the information being reported is credible and auditable. Failure to do this will make the process expensive and time consuming.

Benefits of  PROPHIX Corporate Performance Management Software

Get the Story Behind the Numbers

The interactive nature of PROPHIX reports provide stakeholders from inside and outside the business with more analysis capability and insight into financial and non-financial information. Supporting details such as comments, line-item schedules and source transactions are a click away when reviewing data. Detailed analysis does not require complex programming and/or coding and is available enterprise wide or based on security access. Interactive financial data leveraging XBRL can also be generated for submission to regulatory bodies such as the SEC without need for an entirely separate application.

One System, Multiple Report Types

PROPHIX Reporting uniquely provides a readily accessible tool to suit all of your management, financial, regulatory, and ad hoc reporting needs. You can report and perform analysis, produce many types of reports, and deliver those reports to anyone at anytime. This tool is specifically designed for the business user and allows you to create detailed reports in multiple formats including Excel, PDF and XBRL, all without IT involvement.


Consistent completion of data

PROPHIX brings data together from multiple sources and turns it into usable information for managing the business. Through a direct connection into domestic and foreign subsidiaries business systems or through direct entry into PROPHIX, entities provide required financial information in a standard, consistent manner; deadlines are met and subsidiaries become accountable.


Enhanced validation & approvals

PROPHIX data is continuously validated and cross checked through pre-defined report structures and review processes. The appropriate revision, contribution or sign-off is employed at various junctions during consolidation, improving the flow of information and offering more control to the stakeholders involved.

Multiple consolidation levels supported

PROPHIX supports multiple consolidation and sub-consolidation levels in its reporting and analysis capabilities. Through multiple reporting hierarchies and through the use of inherent mapping tables, PROPHIX is capable of performing multi-level consolidations; satisfying the requirements of regulators and meeting the needs of internal stakeholders.


Adaptability when changes are needed

As regulatory pressures increase and companies are being asked to change structures, processes and policies very quickly, PROPHIX's fully integrated, centralized business model supports, controls and manages the change. Adding new reporting hierarchies, entities, currencies, line items, or consolidation processes is within business leaders' reach. The highest level of integrity, accuracy, reliability, and consistency throughout all of your planning and consolidation processes is guaranteed.


Cross Functional Reporting Requirements Met

PROPHIX reports provide greater transparency and improve information flow between finance and other business units through integrated, cross functional report templates. Operational, personnel and sales information can be utilized in one report for complete visibility into business assumptions and underlying business logic. The total effect of business assumptions are realized and understood for more effective decision-making.

Secure Enterprise Wide Report Distribution

Come full circle on your planning cycles by distributing reports to key stakeholders in a secure, controlled environment. Automated report distribution reduces report cycle times and delivers properly formatted and compliant reports based on current reporting regulations and standards. Improve visibility across the organization with PROPHIX reporting.

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For more information about automating your sustainability reporting process, kindly complete your contact details in the form provided below. We will arrange to contact you to arrange a mutually convenient appointment to demonstrate it to you.