The Algorithm Blog

With Prophix, Reporting is More Than Easy. It’s Effortless.

Excel is great for many things… but proactively reporting on financial data is not one of them.

Making sense of this massive amount of data has always been a challenge, which is why Corporate Performance Management Tools – also referred to as CPMs – were developed to pick up the slack. These tools put advanced modeling and planning capabilities in the palm of your hand, allowing you to learn from your data to make better and more informed decisions every day.

But of course, you already knew that.

As is true with so many other critical business apps, the key isn’t buying into CPM as a concept – it’s in finding the right CPM tool that supports everything you’ve worked so hard to build. Gone are the days where software is a “Swiss Army knife” that tries to appeal to anyone and everyone. These days, specific applications are targeting niche audiences and you need to find the specific subset that you’re a part of. You need something that won't force you into a "one size fits all" box and will instead play to the strengths that make you unique.

The chances are high that one of those tools is Prophix, a CPM that offers the scalability you’d expect and the versatility you deserve.

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FYIsoft: Creating Financial Data is Hard

Creating Financial Data is Hard. But Reporting on it in a Beautiful, Intuitive Way Isn't... Thanks to FYISoft.

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BI360: Extracting the Insight You Need From Your Data, No Advanced Mathematics Degree Required

There's an old saying that reminds us "the only thing you don't know is what you don't know." Without this type of tool at the heart of your enterprise, "what you don't know" is a lot more than you probably realize.

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What are Business Intelligence and Corporate Performance Management?

The majority of established companies in our space have some form of an enterprise resource planning (ERP) solution in place and have for some time. For many years, this was enough to stay competitive.

But that is no longer the case. In today's rapidly-changing business environments new solution niches have emerged that are necessary for taking that next competitive step—business intelligence (BI) and corporate performance management (CPM).

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Common Size Financial Statements—It's a Matter of Perspective

Grand Canyon Aerial vs. Ground (1)
As I am flying over the Grand Canyon, it looks completely different than standing on its rim.  Granted, from both perspectives, it is a really big hole. 

But flying over it gives a fuller sense of the enormity of this natural wonder and the events that created it. 

Sometimes a different perspective helps us understand things better.  Looking at comparative financial statements gives us one perspective, but looking at a common-size statement can help us learn something new. 

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The Dangers of Budgets Developed without Strategy

Budget….ugh. 

Rarely has a budget been seen in a positive light.  In personal finance, it is just a yoke that keeps you from doing the things you want like taking a vacation or buying a fishing boat. 

In business, it is just an annual, time-consuming exercise that often yields little more than a hammer for your manager to use to justify declining your conference request. 

Or it becomes a tool for the sales manager to stir up the sales force that hasn’t “made their numbers”.  I am willing to go out on a limb and say that those budgets probably follow the traditional process of “last year + 10% on revenue and 5% on expenses” method.  They are just meaningless numbers on a spreadsheet.

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Creating and Using the RIGHT Business Measurements 

The great management thinker Peter Drucker has been quoted as saying “you can’t manage what you can’t measure”.  True, and if you can’t manage it, you at least need to know what impact it can have on you and your business.  But what about the things you can measure?

Then you change one little word and have, “you can’t manage what you don’t measure”. But, just because you can measure something, should you?  Does the measurement provide value for the organization? 

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Physics and Financial Reporting

One of my downtime activities is doing dot-to-dot puzzles.  Not the ones of puppies or sail boats from elementary school, but 1000 dot recreations of classic art masterpieces or landscapes.  I love connecting the dots and seeing a new picture emerge. 

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