Solutions

Budgeting

PROPHIX Budgeting offers a pre-defined budget model for organisations that have surpassed the capabilities of MS Excel. Department managers become accountable for budgets through locked down budget templates that allow in-depth secure analysis when required. Through integrated payroll budgets and departmental budgets, a complete view of the organisation is obtainable.

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Benefits

Personnel details automatically integrated

PROPHIX Budgeting automatically integrates personnel-level information into budgets. Department managers can track and edit employee-level information and watch how they directly affect the bottom line—bringing awareness and key information into the field for more informed budgeting.

Locked down budget templates

PROPHIX system-defined budget templates are readily accessible for managers to provide budget details and related data without risking data integrity. The budget information is entered into applicable accounts with the analysis capability to make educated assumptions and budget projections. Templates then routinely consolidate without any manual adjustments from higher level authority.

Pre-defined account roll-ups

PROPHIX budget account roll-up structures allow companies to start budgeting fast within a controlled environment. The pre-defined structure brings consistency to budgeting across the organisation while still providing additional details when necessary. Significant time is saved throughout the budgeting process as it becomes standardized and normalised within departments.

Inherent supporting details

Supporting budget justification and details are automatically incorporated into PROPHIX budget templates through the easy-to-use point-and-click interface provided to end-users. Line item schedules, comments and external files can be attached by budget contributors and painlessly reviewed with a simple click of the mouse. It starts to become very apparent when a budget assumption is inaccurate.

Multi-user version control

PROPHIX supports multiple budget contributors, reviewers and approvers during the budgeting process. Multiple perspectives of the budget are available from the low-level detailed department budget to the consolidated budget used during the approval process. PROPHIX version control allows multiple budget drafts to be created, audited and submitted for thorough and realistic budget creation.

Advanced budgeting methods

Sophisticated yet controlled budgeting methods are available for stakeholders to make valid assumptions and budget projections instead of basing budgets on random, unproven analysis. PROPHIX supports top-down, bottom-up, zero-based and activity-based budgeting to meet the varied budgeting requirements across companies and industries. Pairing this with the time spreading of data and real-time comparison of actual vs. budget allows for more compelling budget creation.

Offline, remote access capability

PROPHIX Budgeting serves the needs of a flexible, ever changing workforce. Budget contributors are not necessarily always in the office, such as travelling sales reps or executives; to meet this need, PROPHIX is accessible from within the office or through a remote connection. Both the needs of casual users and continuous budget contributors are met through a controlled budget workflow process.

>> Key Budgeting Software Features