PROPHIX Forecasting allows you to learn from the past and make forecasting and re-forecasting a regular part of the planning routine. Through inherent forecasting automation and user driven forecasting assumptions PROPHIX can help effectively manage the forecasting process across the enterprise.
Routine and scheduled re-forecasts
Consistently create re-forecasts within PROPHIX by automatically extracting and consolidating actual and plan data through the PROPHIX carry forward and import data features. Extracting and compiling data on a daily, weekly, monthly, quarterly, semi-annual or annual basis is no longer cumbersome or disconnected. Complex waterfall forecasts can be created with ease, providing timely and informative forecasted projections for immediate response and reaction.
One step forecast adjustments
PROPHIX centrally stores all forecasting and business assumptions within PROPHIX account manager, PROPHIX account rule sets and PROPHIX process manager. Therefore, when changes are required, it only needs to happen once, not several times on individual worksheets and/or templates. When adjustments are made you can watch the effect cascade down through the organisation and hit the bottom line; significantly reducing maintenance issues and saving time along the way.
User-defined driver-based forecasting
Forecast not only dollars but also units, square footage, headcount and other key financial drivers. PROPHIX does not lock you down by permitting only General Ledger account forecasting; PROPHIX templates are tailored to utilise key drivers financial and/or non-financial to increase forecast accuracy and understand the drivers of costs and revenue.
Continuous rolling and what-if scenarios
PROPHIX Version Manager combined with PROPHIX Delta Analysis provides an environment of dynamic rolling forecasts to ensure that your company's most recent results are factored into future plans. Rolling forecasts are continually updated as time rolls forward and adjustments are necessary; with the ability to create multiple what-if scenarios for comparison purposes along the way.
Leverage department assumptions
PROPHIX integrates data from multiple external systems so that managers can accurately forecast sales, inventory, expenses, and/or any financial levers based on different business functions. The responsibility of forecasting is on those who are most accountable with complete connection into the total corporate operational plan creating a holistic and detailed forecast for analysis and review.
Full financial cycle forecasting
PROPHIX includes full financial cycle forecasting, moving beyond simply Profit & Loss forecasting, to include Balance Sheet and Cash Flow forecasting. PROPHIX creates the links between forward-looking data from core operations, and becomes the enabler to explain to stakeholders how the P&L, Balance Sheet and Cash Flow statements will be impacted.
"PROPHIX enabled Orasure Technologies to forecast revenue not only by product line, but also by market. Prior to PROPHIX, everything was completed only in dollars."
- Tom Hilton, Financial Analyst