Budget time is nigh – make life easier with Prophix – Synergy Software Systems, Dubai

July 27th, 2014 by Stephen Jones Leave a reply »

Budgets usually mean late nights, and weekends. Spreadsheets are great for individuals but with multi-company, multi-department and multi-cost centres, and multiple budget versions issues arise from the spreadsheet proliferation:

- How to manage the distribution, notify users, confirm receipt, review, validate and approve?

- How to aggregate the data at multi reporting levels without complex look up formulas or tedious cut and paste and risk of manual error?

With a large user base involved in the budget process, inevitably some mails don’t get read, or the work slides, or a key person is off sick, or on holiday, or at an exhibition. So how do you track who has submitted their budget? How to auto generate notifications and expedite overdue submissions? How do approvers know that spreadsheets are received for their review? Is the budget right first time? If not, then how do you version control and compare versions?

Use in built tools to create budget templates, and to spread budget numbers, budget top down or bottom up, base on prior year seasonality, or derive from cost drivers.

Use the detailed planning module for e.g. Manpower planning budgets by individual pay elements, or e.g.for capex budgets. Add comments. Create graphical workflows and see a colour coded dashboard display of budget completion progress status with drilldown to individuals.

Usually there are different versions and now the number of spreadsheets is doubled- how is version control maintained, how easy is it to compare numbers and to drill down and across and between versions , or compare this year and last year, or compare across companies and departments, or lines of business?

Watch this 10 minute video to see better a way to mange your budget processes and to cut down on that on those that out of hours working and budget deadline pressures. Let the CFO spend more time analysing the numbers and less time on administrating the the process. Once your budget is in place you can sue the same numbers to effect budget spend controls to report actual v budget, to project long term plans or to reforecast.

The current version is Prophix 11 SP1, released in February 2014. This version includes new capabilities to further automate and improve planning and reporting processes, enhance the user experience, and align with new technologies.

Prophix 11 includes support for mobile on-demand access to reports through Prophix Mobile for the iPad and iPad mini, a new user interface that is familiar to business users, and the ability to manage large workflow projects with many contributors.

Key future technical priorities include:

- Prophix Cloud, a deployment option for a Prophix-managed application and technical infrastructure.

- A thin client based on HTML5 to achieve a unified user experience across a variety of desktops and mobile devices.

- Prophix Mobile functionality to connect to workflow in Prophix to respond to exceptions and approve tasks, ad hoc analysis, and support for other mobile devices based on technological demands.

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