Women’s Tennis Association’s Prophix video story
Any tennis players out there? I’m a huge tennis fan, so I was thrilled to learn, in 2014, that the Women’s Tennis Association (WTA) was coming onboard as a Prophix customer. Headquartered in St. Petersburg, Florida, the WTA represents the top 2,500 female players, who compete for $139 million in prize money across the globe. The 2017 WTA competitive season includes 55 events and four Grand Slams in 31 countries.
Recently, I had the chance to learn more about the innovations of the WTA’s Finance Department from Rebecca Evans, their Assistant Controller. Finance at WTA aims to maximize the profits that the organization can share with the players and tournaments. To help them do that better, they needed advanced technology to reduce their reliance on manual processes and enable them to better analyze their financial and operational data.
Like many companies, the WTA relied on Excel, outputting reports took them two and a half days per month! Using their Prophix solution, WTA generates their monthly reports in less than an hour because the process is automated and pre-set! They also use the software to precisely track their main accounts, including salaries, travel, and marketing projects with major sponsors. This functionality allows them to track their expenses and know where they’re headed, relative to the organization’s goals.
I should also mention that the WTA is looking to grow their Prophix solution by analyzing statistics and player performance data. Trust me: when the WTA follows through on this, we’ll be there to tell that story as well.