Prophix Software Unveils Significant New Extension With Prophix 10 R3

^[1]Corporate Performance Management (CPM) software developer Prophix Software Inc. ^[2] has unveiled its latest software offering: PROPHIX 10 R3. Automating and simplifying the non-transactional financial processes that drive businesses (budgeting, forecasting, planning, financial reporting, etc.), R3 is delivering greater visibility, accountability, and collaboration to allow organizations to drive proactive performance management activities.

Prophix is the cornerstone of an organization’s performance management strategy, enabling finance departments to easily and contextually analyze and process data. With R3, Prophix strengthens its leading position by delivering new analytical capabilities for Structured Business Intelligence (SBI) linking decision makers with strategic and operational information.

“Prophix is dedicated to providing our customers with the most value-laden unified CPM solution,” says Geoffrey Ng, Vice President Product Planning, Prophix Software Inc. “With PROPHIX 10 R3, we reaffirm our commitment to customers with new features such as SmartMonitor and visualizations that will allow business users to continuously monitor exceptions, collaborate, and make meaningful business decisions.”

“Prophix has changed the way we manage our financial reporting and analysis processes,” says John Regan, a member of the Prophix Customer Advisory Board, and Vice President Finance for Wastequip, LLC, a company that uses the software to do financial consolidation and performance management. “Prophix understands the market and takes the time to listen to what their customers need. With this new release, Prophix delivered a solution to meet the strategic and operational demands on many organizations. We are excited by the new functionality of PROPHIX 10 R3 and anticipate immediate improvements to the effectiveness and efficiency of our financial reporting and analysis, as well as our ability to get critical, meaningful data into the hands of decision makers.”

Unique to PROPHIX 10 R3 is the introduction of a number of first-to-market integrated structured analytic capabilities.

R3 enables organizations to:

• Proactively monitor financial and operational health – SmartMonitor transforms performance management for business users, enabling proactive monitoring of Key Performance Indicators (KPI) drawn from multiple data sources, and delivering exceptions directly to stakeholders in highly visual and interactive dashboards and scorecards. Users can review exceptions from a total organization perspective, or drill down into line of business details. Explanatory comments can now be easily attached to exceptions to facilitate collaborative discussions and auditing.
• Experience rich contextually aware data analytics – Newly enhanced visualizations allow business users to view data in new ways in order to spot trends and outliers, and make changes to affected data easily from within one unified interface. This adds to the already unparalleled data driven reporting and analysis platform in Prophix for navigating across structured, semi-structured, and transactional information.
• Benefit from enhanced calculation capabilities – PROPHIX 10 offers an advanced modeling and calculation engine that is further enhanced in the R3 release. Users that require more advanced and complicated calculations can enjoy the full capabilities of this industry leading functionality while maintaining the integrity of the data.
• Collaborate, capture, and interactively analyze supporting commentaries – Superior commentary collaboration and dynamic analysis capabilities makes the collection and dissemination of supporting details even more powerful.
• Be aligned with latest technologies – PROPHIX 10 R3 supports all the technologies including support for Microsoft SQL Server 2012.
• Benefit from the continued focus of customer driven enhancements – Feedback from the Prophix customer and partner ecosystem has resulted in enhancements to the user interface, performance, scalability and online documentation.

“As the market continues to move towards wanting a more structured approach to analytics, we’ve responded in kind with PROPHIX 10 R3,” said Paul Barber, CEO, Prophix Software. “Our approach of listening to our customers and understanding not just what they are doing with our CPM solution but the business challenges they are trying to address, has allowed us to stay ahead of industry needs and continue to deliver this latest, integrated and innovative solution to market.”

PROPHIX 10 R3 is available for customers starting today.