Banking, Insurance, Legal Services, Technology, and Consulting.
Professional Services
Resources
How to Video: DPM for Prepaids & Compliance
Learn how Amanda Chilson from Sammons Financial Group leverages Detailed Planning Manager (DPM) for calculating amortization and related audit trail.
Professional Services Overview
Professional services firms face their own set of challenges: talent shortages, rising inflation, and lack of real-time data. Prophix helps you understand the performance of your projects, people, and business with real-time analysis leading to maximized revenue, productivity, and profitability.
Executive Summary Report
See what other customers have created.
Get a comprehensive view of your business operations, right at your fingertips. With an executive summary dashboard, and all key profitability, liquidity, solvency, and unique North Star metrics readily available, you can monitor and manage your operational efficiency and financial health with confidence.
CAPEX Planning
See what other customers have created.
Capital expenditure (CAPEX) planning can be complicated due to departmental requests, budget approvals, allocations, and manual efforts to ensure purchases and costs map to the correct general ledger account. It can be difficult to understand the effect of large purchase assets on liquidity and working capital, which is why centralized calculations simplify CAPEX planning, ensuring accuracy on both sides of your accounting entries. Accurately projecting purchases, depreciation expenses, accumulated depreciation, and interest expenses means you can easily generate cash flow impact analysis, depreciation forecasting, and assess the profitability and timelines for recouping investments.
Cost Center Allocations
Ensure costs are accurately and transparently allocated and attributed to the right departments. Prophix One, a Financial Performance Platform, is intuitive, simplifying the setup of allocations, enabling you to instinctively apply a driver to ensure indirect expenses are allocated to target departments or cost centers appropriately.
Workforce Planning
See what other customers have created.
Budgeting your biggest operating expense from the bottom-up improves forecast accuracy throughout the year and simplifies future variance analysis. It aligns workforce strategies with broader business goals, such as expansion or cost containment, while providing granular visibility into workforce costs, including salaries, benefits, and taxes.
Customer Stories
Sammons Financial Group
The FP&A team at SFG improved the accuracy and efficiency of their planning and reporting processes, saving several days of manual effort each month. They were also able to reduce the amount of time and effort required for their annual budgeting and planning cycle across several months.
By adopting Prophix One for a wide range of tasks — including budgeting, forecasting, reporting, compensation planning, prepaid expense tracking, project tracking, expense allocations, and variance explanation capture — SFG was able to generate more value in less time.
Boulay PLLP
With improved visibility into their data and the ability to quickly update assumptions, the finance team at Boulay can reforecast their personnel plans–based on changes in staffing or work volume–while also maintaining resource utilization and managing profits. Now, not only are their key financial processes automated, which is a huge time saver, but the team is better able to engage with management and provide strategic guidance on next steps
alterDomus
With Prophix, alterDomus now has a flexible solution for multi-client management. Every client file is managed in an independent environment which allows for personalization needs for parameter standards. Additionally, Alter Domus was able to increase its presence for international clients as it can now meet multiple accounting standards."