Excel and on-premises solutions for budgeting, planning, and reporting, slow your team down and inhibit growth. Flexible budgeting and planning solutions help your company stay agile in an ever-changing business landscape and allow your team to work more strategically to leverage data, meet goals and expand margins.
In the past, slow planning and disjointed execution have been inconvenient, but it hasn’t necessarily been a critical issue. If your company had more resources than competitors, it wasn't difficult to catch up, even when your planning strategy left for inefficient use of those resources and narrower margins. However, as technology continues to develop, smaller companies are able to plan the use of their limited resources more strategically and can quickly overtake their brawnier competitors. With the right technology in place, companies are able to leverage historical information with forward-looking analytics to see any number of options almost instantly, before selecting the best path forwards. As decision-making gets faster, close alignment between planning and execution becomes necessary to excel and ultimately to survive.
When we first started with Prophix, I didn’t know how powerful the tool was. We were more interested in the printed reports, and the graphs and the pie-charts and things like that that the Board wanted. But then, as we were building, we realized that – whoa, hold on guys, I mean, if you can do this and you can do that, then my budgeting process is simplified by weeks. My forecasting process is simplified by months. I mean, we forecast here up to 2026, and sometimes 2032, and that’s something that can be done in a week."