Prophix
Company Information:
- Independent municipal corporation created by the citizens of Pierce County in 1918 to facilitate the development of maritime commerce.
- Approximately 219 employees
- Annual revenue: $114 million
Problem:
Like many organizations, Port of Tacoma had struggled to establish efficient financial processes using spreadsheets. In this case, the company’s spreadsheet based budgeting process took an exceptionally long time to reconcile with their accounting system. The company also wanted a scenario-planning tool that would enable their managers to see how various assumptions and situations could affect revenues and expenses.
Solution:
With the implementation of Prophix, Port of Tacoma saved consolidation time, simplified their forecasting and reporting tasks, and improved their scenario planning. More importantly, improvements to the Port’s financial and operational processes provided them with sustainable automated models for the future and made a major impact on their bottom line.
Port of Tacoma’s ROI:
- Savings of $253,000 in operational improvements
- Correction of $180,000 worth of incorrectly billed expenses
- Detection of a paving maintenance issue that saved $50,000
- And more…
To learn more about how Prophix is helping Port of Tacoma to save valuable time and money, read the Port of Tacoma Case Study.
