Eliminate financial consolidation complexity
Prophix One Financial Consolidation was developed by experts who understand the unique requirements for a streamlined month-end close process. Leveraging best practices, it removes the complexity of consolidation by automating processes like multi-currency translations and sub–consolidation, ensuring multi-GAAP and IFRS compliance and much more to reduce the need for expensive customizations. Regardless of your group structure, depth, or unique chart of accounts, Prophix can execute complex account consolidations in seconds for faster insights that drive better business outcomes.
Built-in customizable audit reports
The need for transparency and data traceability is paramount. Financial Consolidation enables the creation of detailed and fully customizable audit reports when needed, simplifying and expediting internal or external audit processes and significantly decreasing the cost and resources spent on audits. By providing user licenses specifically tailored for auditors and a library of configurable audit report templates, Prophix One gives auditors the tools and transparency to self-serve and streamline the audit process ensuring the accuracy and integrity of your consolidated financial statements.
Integrate and automate data collection across business systems
No matter whether your company is dispersed across different regions, currencies, or business systems, your data collection is made easy. With an easy-to-use interface, Financial Consolidation simplifies the data exchange between our platform and other business systems without involving IT. Using automated imports, integrations, and validation rules, you have complete visibility and control over your data throughout the entire consolidation process resulting in quality consolidated financial reporting.
Streamline close windows by eliminating manual processes
Quickly consolidate geographically dispersed organizations.
Eliminate errors in data gathering from disparate accounting systems.
Easily conduct audits with full data traceability.
Consolidate faster with automated processes and data collection.
A solution for every leader
Chief Financial Officer
Provide data clarity to empower your organization to drive financial performance and be prepared for the road ahead.
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Controller
Automate processes and unlock your analytical mind with on-demand analysis and monitoring of cash flows.
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Head of Consolidation
Achieve your compliance and reporting goals with greater data confidence to expedite business decisions.
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Made for finance leaders
Discover Prophix One and unlock your potential for success.
Increase data accuracy and reporting efficiency, affording you more time for valuable analysis.
Learn moreAutomate reconciliation, consolidation, and reporting to shrink-close windows, with greater accuracy.
Learn moreStreamline inter-company reconciliations for faster, more accurate closes.
Learn moreExpedite your close process and have confidence in the results.
Learn moreBoost Excel’s financial modeling and planning capabilities and create insightful PowerPoint presentations.
Learn moreFrequently asked questions
Yes, Financial Consolidation was designed with an audit perspective in mind. It allows for full auditability of data changes and provides complete audit reports.
Financial Consolidation helps to reduce manual tasks. Users can automate data imports, consolidations, elimination entries, allocations, currency conversions, and report assembly, report distribution and more.
Anomaly Detection uses the power of machine learning to analyze general ledger and sub-ledger transactions (accounts receivable, accounts payable, and subsidiary ledgers) to provide you with deep analysis of your data to uncover outliers, errors, and possible fraud to expedite their resolution for a faster close using clean data.
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