Nucleus Promotes Prophix Platform’s Usability and Customization, AI/ML Capabilities
MISSISSAUGA, ON, February 8, 2023 /PRNewswire/ — Prophix, a leading global platform for financial performance management, today announced that it has been ranked as a “Leader” in Nucleus’ “2023 Corporate Performance Management (CPM) Technology Value Matrix” Research. In its 2023 report, Nucleus Research evaluates vendors based on their usability and functionality, as well as how vendors provide value to customers through product capabilities. The research serves as a snapshot of the CPM technology market, helping inform customers and prospects of how vendors are delivering value, and stocking what to expect in the future based on current trends. investment.
“As this year’s Nucleus report highlights, external market pressures and economic uncertainty are prompting financial professionals to turn to technology for agile budgeting and planning,” it said. Ajmera offer, President and CEO of Prophix. “Our goal at Prophix is to fundamentally change how people work in the Office of the CFO by continuing to drive innovation, especially in these uncertain times. Leverage advanced capabilities with AI and ML, we give customers consistent access to the data insights they need to predict and plan for different future scenarios and adjust forecasts accordingly. . This recognition from Nucleus is further validation of our customer-driven approach to leading financial performance management.”
According to the Nucleus report, Prophix “is designed to be easy more easier to use, even for those without a background in accounting or finance». The report highlights the improvements Prophix has made over the past year to improve usability and customization. Nucleus specifically promotes:
- Prophix’s natural language and machine learning capabilities identify data anomalies and automate common tasks to streamline FP&A processes;
- Various pre-built templates and reports on the platform help users create financial statements; and
- Prophix’s user interface, which reduces the complexities and limitations of using spreadsheets while integrating with Microsoft Excel to enable a wider range of users to use the system.
The report also recognized the significant product improvements Prophix made last year through organic growth and targeted acquisitions, including:
- The full integration of enterprise-grade financial consolidation and intercompany management capabilities and the increase of the company’s global footprint, through the successful Sigma-Conco acquisition;
- The release of Prophix Data Integration Studio to streamline integrations with other business systems without requiring a separate solution or dedicated IT; and
- Expanded generative AI capabilities with automated report accounts and Reporting Insights to facilitate decision making and analysis
To download the full Nucleus Research “CPM Technology Value Matrix” report, click HERE.
About Nucleus Research
Nucleus Research is a global provider of investigative, case-based technology research and advisory services. The company’s ROI-focused research approach provides unique insight into the actual results delivered by technology solutions, allowing organizations to cut through the marketing hype to understand the true operational value and choose or change the best technology solutions for their environment. For more information, visit NucleusResearch.com.
About Prophix
To empower mid-market companies to achieve their goals, Prophix provides an integrated, cloud-based platform to the Office of Finance; one that delivers planning, budgeting, reporting, forecasting and consolidation solutions. With Prophix, finance leaders improve profitability and reduce risk and return the focus to what matters most – discovering business opportunities. Prophix supports the future with AI innovations that adapt to meet the strategic realities of more than 2,600 active customers, worldwide, who rely on Prophix to deliver tangible business results and transformation. or the way they work. For more information, visit www.prophix.com.
SOURCE Prophix
