Prophix® Customers Share Stories of Successful Next-Gen Finance Transformation

New collection of video testimonials showcases the power of Prophix One™, a Financial Performance Platform, to fundamentally impact the office of finance

MISSISSAUGA, ON, Oct. 22, 2024 /PRNewswire/ - Following the launch of Prophix One™, a Financial Performance Platform, finance leaders who have implemented the platform are recognizing its ability to fully transform the speed and accuracy of decision-making within their departments. Prophix^Ⓡ, a leading innovator in financial performance management, has now released a series of videos showcasing the impact of Prophix One on leading brands across industries, all of which have benefited from reduced time, accurate and accessible data, and best-in-class reporting functionality.

To view the Prophix customer video series, visit: https://www.prophix.com/lp/successful-next-gen-finance-transformation/

Real Stories from Next-gen Finance Leaders

Miami HEAT's Financial Planning MVP
Brendan Perrin, Vice President of Finance for the NBA's Miami HEAT, discussed the team's game plan for their budgeting and forecasting. This includes the organization's use of Prophix One to:

• Use adaptable scenario planning to account for changing conditions that could impact a live, events-based business model;
• Implement data integration and automation, ensuring that the data used for their budgeting and planning is accurate and up to date;
• Improve version control to ensure everyone is using the latest version of a plan to build budgets and forecasts; and
• Focus on collaboration for efficient budget creation, revisions, and approvals—with everyone working within a single source.

Collaboration at the Heart of SummitStone Health Partners
Garrett Dietz, Senior Financial Analyst at SummitStone Health Partners, a provider of behavioral healthcare services in Larimer County, Colorado, described how efficiency and collaboration are fundamental to the success of the organization. To help its finance department maximize its capabilities, SummitStone implemented Prophix One to:

• Streamline data integration with automatic updates, reducing the need for manual data collection and ensuring their data is always up to date;
• Focus on uncovering deeper analytical insights that show the story behind the data, helping the team in their decision-making process;
• Optimize reporting for consistent, structured reports that are predictable and easy to understand; and
• Increase the understanding of and access to financial data across the organization so that other teams can integrate finance insights into their planning.

Sequel Wire and Cable Holds the Line on Finance and Operations Planning
Denise Feece, CFO/COO at Sequel Wire and Cable LLC and long-time finance technology advocate, brought Prophix One to her department to achieve nimble decision-making for finance and operational planning. Prophix One has enabled the organization to:

• Leverage technology to create daily shipping reports by integrating ERP data for streamlined operational planning;
• Reduce reliance on Excel spreadsheets, and moved to consistent, automated, error-free forecasts;
• Implement flexible analysis and reporting for easy sharing of information across the organization, resulting in better managed business responsibilities; and
• Integrate data into one source of truth for savings in time and money, improved efficiency, and one point of access.

"I would describe Prophix as peace of mind," noted Jonny Harmer, CFO of USA Properties Fund Inc. "All our executives overseeing our four functional areas use Prophix One to do their personnel planning. As we're doing budgets for the coming year, we're able to do periodic reforecasts every 90 days, instead of just doing one annual budget. That way, information doesn't get stale and we can stay on top of what we expect to happen."

Backed by world-class cloud security and compliance, Prophix helps finance leaders unlock new performance levels and drive better business outcomes. To learn more, visit www.prophix.com.

About Prophix

Ambitious finance leaders engage with Prophix to drive progress and do their best work. Leveraging Prophix One™, a Financial Performance Platform, to improve the speed and accuracy of decision-making within a harmonized user experience, global finance teams are empowered to step into the next generation of finance with no reservation.

Crush complexity, reduce uncertainty, and illuminate data with access to best-in-class automated insights and planning, budgeting, forecasting, reporting, and consolidation functionalities. Prophix is a private company, backed by Hg Capital, a leading investor in software and services businesses. More than 3,000 active customers across the globe rely on Prophix to achieve organizational success. Additional information at www.prophix.com.

SOURCE Prophix Software Inc.