Effortless financial planning & analysis for the midmarket, Prophix One FP&A Plus unlocks business growth opportunities by solving complex challenges with speed and precision
Prophix, a leading innovator in financial performance management, announced immediate availability of Prophix One FP&A Plus, the newest financial planning and analysis application for Prophix One, a Financial Performance Platform. This sets a new benchmark for financial planning solutions by leveraging cutting-edge cloud computing and advanced database technology with a seamless user experience to empower finance teams to work faster, plan smarter, and think bigger than ever before. Designed specifically for the office of the CFO for unmatched performance and scalability, Prophix One FP&A Plus empowers organizations to tackle increased complexity and data volumes while maintaining speed, agility, and precision throughout their planning processes.
“When we launched Prophix One last year, we asked finance leaders to think big about what a financial performance platform could do for their organizations. With Prophix One FP&A Plus, it’s time for finance leaders to think even bigger,” said Alok Ajmera. “By harnessing the latest cloud-native technologies from AWS and a cutting-edge database engine designed specifically for planning and reporting, we are opening a world of possibilities for finance teams, particularly in the middle market. Now, finance teams can perform more advanced planning and conduct more granular analyses seamlessly, even during peak periods and large-scale user deployments with zero compromise. This is nothing short of a paradigm shift in financial performance management.”
Plan Smarter, Report Faster, Grow Your Business
With Prophix One FP&A Plus, organizations can unlock business growth opportunities by solving specific challenges with precision, everything from analyzing product-level margins in real-time to optimizing supply chain costs through predictive modeling.
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Key Benefits and Capabilities
- Fast Processing for Complex Models: The dynamic architecture supports complex modeling and analytics, enabling finance teams to quickly iterate on financial models and scenarios.
- Rapid Analysis: Easily process large datasets quickly, which is essential for timely financial reporting and analysis.
- Scalability: Easily scale up or down to meet the changing demands of finance processes and business complexity, accommodating fluctuating workloads during budgeting or forecasting cycles.
- Unlock a New Level of Planning: With the increased flexibility to model more data with increased frequency and granularity, if it can be planned, FP&A Plus can make it happen.
- Built for Innovation and Growth: Architected from the ground up to be fully cloud-native to always utilize the latest in cloud-computing technology from AWS and deploy across multiple regions at a global scale.
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A sampling of potential Prophix One FP&A Plus use cases include:
- Growth planning: Resource planning, project planning, sales planning, production planning, risk planning and analysis.
- Asset planning and control: Capital expenditure planning, inventory planning, procurement and spend management.
- Strategic planning: Long-range planning, sustainability and ESG planning, workforce and talent planning, innovation and R&D.
“Our research shows continued strong adoption of performance management solutions for both financial and operational planning as businesses, including the midmarket, look to take advantage of more advanced capabilities that can be easily integrated with existing systems,” said Craig Schiff. “It’s likely many of those organizations will require more complex modeling and analytics support as they scale and increase workloads. Prophix One FP&A Plus addresses that need, providing the architecture necessary to process large datasets quickly, frequently, and with a high degree of granularity.”
The complete finance capabilities of Prophix One, a Financial Performance Platform, including Financial Consolidation, Intercompany Management, and Account Reconciliation, are accessible via a fully integrated suite of applications with a common user interface, harmonized data and interconnected workflows. A continuously evolving platform, Prophix One stays at the cutting edge of financial planning technology, integrating AI, machine learning and advanced analytics to support decision-making at all levels.
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Source – prnewswire
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