MISSISSAUGA, ONTARIO (PRWEB) March 03, 2016
Prophix Software, a global leader in developing Corporate Performance Management (CPM) software, released its latest version of financial consolidation software. Designed with greater capabilities to address many business challenges faced by growth companies including; multiple entities, intercompany eliminations, regulatory reporting requirements, foreign currency translation, joint ownership structures and mergers and acquisitions.
Feature highlights include:
- Support for Sophisticated Corporate Structures - including multiple reporting entities, partial ownership, and multiple currencies.
- Reduced complicated workflow - provides the structured review and approval process to ensure financial data security.
- Alleviate risk and reduce errors – a financial consolidation audit trail that provides transparency and disclosure throughout the financial consolidation process.
- Increased collaboration between multiple entities - compares the performance of subsidiaries against each other.
- Improved Management Reporting - not restricted to reporting actual historical data, but also for scenario planning that model acquisition, divestiture and other foreseen and unforeseen ownership changes.
- Transparency and increased governance - through sophisticated reporting, with role-based security and detailed auditing capabilities.
According to Anne Moxie, senior analyst, Nucleus Research:
“A key differentiator for CPM success remains in high adoption rates and shorter payback periods. Nucleus took a look at Prophix’s new release and found that its focus on ease of use in financial consolidations, will help reduce the learning curve and accelerate the time to value.”
"With so much data to manage, growing companies need a unified consolidation solution to derive strategic financial analysis and make better business decisions,” said Geoffrey Ng, SVP, product and technology, Prophix. “Prophix financial consolidation automates the collection and consolidates information to deliver quality and accuracy.”
About Prophix Software
Prophix develops innovative software that automates critical financial processes such as budgeting, planning, consolidation, and reporting—improving a company’s profitability and minimizing their risk. Prophix provides the right balance of simplicity and depth, delivering CPM software that is easy, powerful, and collaborative. For everyone. Thousands of innovative organizations in nearly one hundred countries use Prophix to gain increased visibility and insight into their business performance. For more information, visit http://www.prophix.com.