Drive Finance Reports with Artificial Intelligence: Fall Release 2021

Trading your ice cappuccino for a pumpkin spice latte can only mean one thing – it’s fall! Fall at Prophix also means we have an exciting product release to share with you.

Many industries have undergone a transformation over the past two years, which has impacted the role of finance leaders. In many organizations, the insights generated by finance teams and the CFO have increased in strategic importance. With this elevation, finance teams need to streamline their time-consuming tasks to focus on strategic work. In this release, we’ll show you how to streamline your tasks with Artificial Intelligence (AI).

Artificial Intelligence allows you to consistently and thoroughly analyze large amounts of data that would otherwise overwhelm human analysts. Reporting with AI gives you the power to quickly get data into the hands of your stakeholders, expediting your decision-making and supporting business agility.

Our goals for the Fall Release are to expedite reporting with comprehensive and efficient analysis with AI, extend Prophix data to Power BI and continue to simplify the user experience to promote user adoption and drive further productivity for our customers.

Virtual Financial Analyst – Report Insights

How much time does it take to add commentary to your reports? And after sending out your reports, how often do you find yourself providing additional clarification? In our latest release, we’ve added a new AI capability to our Virtual Financial Analyst called Report Insights.

Reports Insights, which uses Natural Language AI, generates a narrative for your key variance reports by prepopulating notes for you. With this new capability, you can create meaningful reports faster while minimizing follow-up from stakeholders.

Data Integration Services – Microsoft Power BI

Integrate your Prophix forecasts, scenarios, allocations, KPIs, and other key financial data with Microsoft Power BI. This is made possible through a new integration agent for Prophix’s Data Integration Services (DIS). The resulting integration is seamless and allows Power BI users to model, analyze financial intelligence from Prophix and visualize it within Power BI.

 

Enhanced User Interface

In the Fall 2021 release, we have updated our interface to improve your overall user experience. Navigate easily to the tools you use every day with our updated menu. Administrative functions are now clearly identified in a separate area. We have also added more space for visualizations, including your graphs and KPIs.

Additional Enhancements

Copy Row Notes: Dive right into updating forecast numbers or planning for the next year with the automated transfer of notes from version to version. Carry forward context between planning and forecasting versions quicker and more seamlessly with confidence that you haven’t missed anything.

Detailed Planning Posting Management: Gain more flexibility in tracking what’s in the latest version of a budget that stakeholders are reviewing. Now you can be confident that you can still test assumptions on a detailed level without having to push them out to your corporate budget before you are ready.

Mapping Table Imports: Schedule the import of your mapping tables to ensure you have access to the most up-to-date data.

We have also made several usability improvements to Prophix, including session time-outs, the ability to view active sessions, and keeping better tabs on locks in the system.

These new capabilities are designed to continue to transform the way our customers budget, plan, and report.

To learn more about these and other exciting enhancements in this release, visit our Fall 2021 Release Page

 

Wayne Slater

For more than 25 years, Wayne has been helping organizations solve their product and businesses growth challenges. Described as an innovative marketer and results-driven business development specialist.

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