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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Webinar Recording: Applying Strategic Management to the Budgeting Process

Planning any project makes it go smoother. Budgeting is no different. 

Our Dennis Easter leads this educational webinar where he explores how applying project management to the budgeting process brings this oft dreaded process to a successful, repeatable conclusion. Areas of focus include scope, resources, and technology. 

Dennis is a financial planning and analysis connoisseur and Business Applications Consultant with Algorithm who has helped a multitude of companies with their budgeting strategy and development.

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Webinar Recording: Sales and Revenue Planning with Prophix

Sales revenue is the lifeblood of every business, but being able to plan your sales and revenue outcomes is a daunting task if you don’t have the right tools in place to help predict the future.

Constraints from data silos and manual processes are a thing of the past. You need a competitive advantage to impact your sales and revenue decisions.  In this webinar Algorithm and Prophix dive into ways you can:

- Gain greater visibility into revenue 
- Create assumptions to monitor forecasts and revenue anomalies
- Use workflows to create a single version of the financial truth
- Run rolling forecasts and what-if scenarios for multiple views
- Integrate real-time data adapting to market changes such as currency rates, interest, production levels and payments

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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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Webinar Recording: Graduating from Excel for Macola Financial Reporting and Budgeting

Is your organization still using Excel for Macola financial reporting and budgeting? Are you stuck with multiple users making updates to multiple versions of multiple spreadsheets each month?

Move past this outdated, disparate, and headache-inducing method and graduate to a system that automates important financial reporting and budgeting processes and reduces risks for your company.

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Webinar: A Faster Year-End Close with Prophix and Macola 10

We’ve integrated Prophix with Macola for a better year-end close—why is faster closing important.

A faster close is a good indication of how well a company’s financial systems and procedures are performing. In today’s competitive market, the accounting function needs to improve existing processes and, at times, infrastructure to achieve greater efficiency and accuracy.

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