Regardless of their size and industry segment, organizations are constantly trying to improve Corporate Performance Management (CPM), which includes all of the budgeting, forecasting, business modeling and financial reporting required to successfully run an organization. This process isn't an optional one, or a nice-to-have one – it is an absolute requirement and is critical in allowing leaders to effectively guide the strategy of the organization. A strong CPM platform is necessary to react to changing business conditions with increased agility.
Many organizations struggle with this though, and are unable to budget quickly, accurately and effectively using a driver-based approach, and then reforecast throughout the year as the business changes, and to even maintain a rolling 12-month forecast. They are constrained by only historical, rear-view mirror reporting on organizational performance, with lengthy lag time in generating reports. And they have little to no ability to browse and explore their data, to identify and investigate exceptions.
In our latest installment of BI&A Snack Sessions aimed to help your organization take data to the next level, we present Prophix, a powerful, intuitive CPM Platform that is targeted at end-users and the Accounting / Finance Department, rather than something that must be implemented and maintained by IT. Like other Tribridge CPM Solutions, Prophix can be delivered on-premise, or through the Concerto Cloud on a subscription basis.
This platform allows an organization to automate and improve Corporate Performance Management with:
- Flexible budgeting/ reporting at different levels of detail
- Automated workflow management
- Seamless and automatic roll-up and consolidation
- Automated and powerful data manipulation tools
- Streamlined monthly report generation and distribution
- Self-service reporting, analysis and decision support
- Quick and easy forecasting, what-if scenario capabilities
- A single source of truth, integrating multiple disparate data sources
To learn more about how this solution can help your organization, view our 30 minute snack session.
Would you like to learn more about our solution for CPM featuring Prophix? If so, contact us today.