Prophix Now

Gone are the days of flat-file loading from one server to another.   At Prophix we strive to stay on top of market trends and the way we integrate data from multiple source systems to Prophix is no exception.

Today’s CFO/CTO is looking for multiple pre-built connectors, data encryption to ensure data security, and the ability to perform transformations on the data before loading it into the software.   Whether is it from an on-premise application or a hosted solution, we make the integration process simple, fast and secure.

At Prophix, we encourage you to add as many data sources as you wish.  This will provide you with the most effective reporting and decision making solution possible.

We recently conducted a webinar with Aberdeen Group and SnapLogic.   The Aberdeen Group helps provide intelligence on what markets are buying along with, peer-based, analytic content to back it up.  SnapLogic is a software company that provides Integration Platform as a Service (IPaaS) tools for connecting Cloud data sources, SaaS applications and on-premises business software applications.

Some webinar highlights:

industry trends and analysis of what your peers are doing and plan to do

the Prophix integration platform and how it, in conjunction with our CPM platform, will raise the bar on your reporting and analytics

insight from a world-class data integration solution provider

For a Corporate Social Responsibility (CSR) program to truly succeed and to make an impact two factors need to exist:

It should be ‘grass roots’ in that employees need to lead the effort and champion causes they believe in.

The program requires executive buy-in and support.

The CSR journey at Prophix officially began three years ago. While we had always made commitments to give back to our community, there was not a structured approach until an executive challenge was presented to our employees to try and use our success to change the world in a positive way.

I’m very proud to report that since the journey began, we have made some huge achievements together. In 2015, Prophix adopted a village with WE, a project in Irkaat Kenya to help break the cycle of poverty. The project was successful in breaking ground on a new classroom in the community which will provide students the opportunity to study longer as well as improve their academic performance.

We also selected a new project with an organization called Students Offering Support (SOS). With the support of Prophix employees, we donated enough to help build two classrooms for high school students with disabilities in the community of Pueblo Viejo, Nicaragua. A group of 10 chosen Prophix employees will be lucky enough to break ground on the construction of this school in April 2017!

In addition to these exciting projects, we also participated in many other charitable activities:

Employees were given time to attend volunteer days, where we raised funds for a local homeless shelter

Prepared meals for people in need

Planted flowers with a conservancy program

Donated and sorted toys for a holiday toy drive

Raised funds for those who were affected by the Fort McMurray Fire

Sponsored a Prophix employee in a walk to end Prostate Cancer

Participated in a three kilometer walk to help end violence against women

2017 is a new year which brings in new and exciting opportunities for us to expand our journey. While we are making our mark in the world, we want to be proud of the type of footprint we leave behind.

Most travelers visiting Bermuda think of the pink sand beaches, cool breeze, and swizzle drinks. If you’re an organization in Bermuda seeking a world-class technology firm, you think of Emergence Business Solutions.

Originally named MCS Limited, a computer reseller, they shifted their focus to consulting and business applications expanding into over 20 countries as a leader in the Enterprise Resource Planning. Prophix is built on the Microsoft SQL Stack, therefore the partnership with Emergence whose wealth of knowledge and offerings on the Microsoft technology platform are unparalleled.

Consistently recognized for its excellence in the field over the years, it’s no wonder that Emergence can call several globally recognized organizations its customers. Our shared values of providing quality professional services and enabling them to reach new pillars of growth and success, make this partnership flourish. The team at Emergence not only hold themselves to high standards, but they are also so attentive and caring about the needs of their customers.

As more and more Finance applications become available via the cloud, organizations must consider which deployment approach will best meet their particular business needs to help ensure they are evolving and modernizing the Office of Finance’s budgeting, reporting & forecasting.

A recent Proformative webinar examined factors to scrutinize when deciding how to implement Corporate Performance Management (CPM) software.  Important factors such as; cost, service, functionality and technology considerations and the business benefits when looking at on-premise or cloud-based applications for the Office of Finance.

Guest speaker Joey Perrone, Director FP&A for Aeglia BioTherapeutics (NASDAQ: AGLE), (and Prophix customer), is responsible for budgeting, forecasting, treasury, cash flow management and reporting for this fast growing biotech company.   Joey details how he and his team evaluated the On-Premise vs. Cloud deployment options, along with the lessons they learned along the way that helped to mitigate risks.

Learn more about how Aeglea transformed their finance function, what they were able to accomplish in the first 90 days and more about how to choose the right implementation for your business.

See the webinar

As human beings, we have a particular talent for hearing what we want to hear. We cherry pick facts to fit our understanding. We filter out the arguments that counter our deeply-held beliefs.

This is particularly dangerous in customer relationship management. Even the most experienced professionals can miss vital signs that all is not well with a customer relationship. Because their brain naturally twists and filters what they are being told to translate it into something more positive and palatable.

A second opinion is always valuable in these cases. And no opinion carries more weight than the numbers.

A proper analysis of a customer’s behavior through the details of their transactional relationship with your organization can be hugely revealing. But who has the time to run such an analysis? The reality for most finance teams today is growing demand and limited resource, often both in people and skills.

The solution may lie outside of the finance team. One of the key features of the truly modern finance function is the ability to effectively partner with other areas of the business, equipping them with the tools and insight for powerful analysis. If finance can provide the data, systems and expertise, then sales, marketing, and operations should be able – with the right relationships and training – to do their own analysis. The reality will never be quite so neat: that is the nature of business partnering. But the burden shouldn’t be solely shouldered by the finance team. Apart from anything else, this creates a competitive relationship around two different versions of the truth. No organization needs new sources of friction between functions.

Get partnering like this right, and you can empower other areas of the business to improve performance through proper application of valuable information. Conversations with the customer can be better informed if they are based on the facts of their behavior, not just the words they are saying when you meet.

If one single factor characterises modern business it is change, and the speed at which it happens. The lifespan of products and services, ideas and systems is just shorter now. That doesn’t mean you can’t build a sustainably successful business. It just means that you have to be adaptable in order to do so. As former Cisco CEO John Chambers put it: “Companies fail because they keep doing the right thing too long.”

The accelerated pace of change means that many threats and opportunities appear on the ‘near horizon’, where there is little time to plan a response. This puts huge emphasis on the ability of an organisation to be ready for change at all times.

Finance plays a huge role in this. In the past, so much of the role of finance has been about time-bound processes. Producing a report? A time-bound process. Preparing for an audit? A time-bound process. Gearing up for M&A? A time-bound process.

Imagine if you could replace these processes with ‘states’. If the preparation of reports, audits, M&A documents was so automated as to be ready at any time, on demand. Not requiring human labour to prepare. On every front, finance could be in a constant state of readiness.

Imagine what that does to your ability to respond to new threats and opportunities. Knowing your position at all times gives you a starting point for analysis. It gives you the ability to respond to inquiries instantly. And gives management the ability to act faster, to avert threats or grasp opportunities.

The truly modern finance function is one that has a real-time handle on the most important data. But most organisations are not there yet. As revealed in a recent report published by Prophix and FSN, 81% of senior finance professionals believe CFOs ultimately will be responsible for corporate data. But almost two thirds believe an inability to master the variety and volume of new business data is a serious threat to the future finance function.