Save Time and Increase Forecasting Accuracy with the Prophix Budgeting Software
KPI Management Solutions is a distributor of Prophix Software in Africa. It is a performance management and budgeting software that helps your company to speed up your planning cycle with up to 80%. It gives you the opportunity to create more detailed and accurate plans than what is possible with conventional methods.
The software is the best in its class when it comes to budgeting, performance management, planning, modelling, analytics, what-if scenarios and reporting.
Your firm will benefit from the complete corporate performance management suite, suitable for aspects such as medium and long-term strategic planning, financial consolidation, reporting, profitability management, workforce planning, budgeting and forecasting.
Automation of Time Consuming Processes
Prophix is easy to implement, especially because of its intuitive features, ensuring that your managers will require very little IT assistance. The software suite has been designed to automate repetitive and time consuming tasks, ensure optimal reaction to changes and provide amazing accuracy.
It is a complete suite for all of your performance management requirements and is perfect for proactive decision-making. However, you do not have to implement all of the functionalities .This is what makes the suite so useful. You can choose to only implement the functionalities that you need to address the short-term requirements of your company.
Instead of investing in several software solutions for accounting, planning and budgeting, your company can now manage all of these and more, without putting additional pressure on the IT team. With Prophix being such a flexible software suite, very little customisation is needed. This provides for more effectiveness in implementation.
Your company receives one platform that can handle all of your corporate performance management processes, including spreadsheets and forecasting, as well as analytical processes. All of the processes can be combined to manage several corporate performance management processes.
You do not have to implement the complete CPM solution. With Prophix, you can start by using the software instead of normal spreadsheet solutions for the management of the budget. This will give you better tools for budgeting, as your finance department will not have to use spreadsheets and in-house products for budgeting, and then use analytical tools.
With the Prophix solution, your employees will not need to develop, copy, and formulate data onto spreadsheets, and then have to switch between applications which can seriously hinder effective reporting. With the all-in-one CPM solution, your finance department will be able to respond effectively to new statutory requirements.
The software tool is, however, far more than what has been explained above. It allows for linking of financial and operational planning, identification of areas where collaboration can help to improve performance, and the provision of the detail that you require for sound business decision-making.
Why Prophix for Budgeting?
Spreadsheet usage for budgeting is outdated and falls short of the analytical capacity needed in modern business environments. With Prophix, you get advanced analysis of data and thus the ability to improve your company’s organisational capacity. Budgets prepared through in-house solutions and spreadsheets often lack clarity, consistency and accuracy. These shortcomings affect the decision-making ability of key players, and thus hinder the growth and financial success of your company.
With the innovative characteristics of the CPM software, your data will not outgrow the software’s capacity. You will also not need to be concerned about compatibility, as the suite is now used by over 2 400 firms around the globe.
Benefit from the automation of the budget submission and reviewing process that is facilitated through effective and relevant workflow. With no need to collect and consolidate information from various systems, you will have more control over the budgeting process and thus reduce the risks of inaccuracy, redundancy and inconsistency. The software makes it possible to add controls and thus manage your risks more effectively.
The software can be used to create from rather straightforward to exceptionally complex scenarios, which will help your company to make provision for all possibilities. You can thus use the software to improve the efficiency of departments, and benefit from auditable and highly accurate budgets.
Your employees will be able to see the importance of accurate budgeting and because of the user-friendly features of the system, your employees will have more flexibility regarding data input. This will motivate them to use the available tools for effective budgeting.
The majority of clients that purchase the Prophix software solution start using the programme specifically for budgeting. Because of the automation of processes, financial data control is possible and forecasts can be made. With Prophix, the time-consuming forecasting process becomes a fast, effective and accurate process.
Contact us at KPI Management Solutions, for more information on the Prophix budgeting software and find out how the software can be utilised for your optimal budget efficiency.