Prophix One™ Account Reconciliation is here!

After months of anticipation, we’re excited to share that Prophix One Account Reconciliation is now available to all! Designed to transform the close process, Account Reconciliation automates those tedious tasks and brings everything you need for a faster, more accurate close into one platform.

But it’s more than just a tool; it’s a game-changer. Account Reconciliation on Prophix One ensures consistency, accuracy, and transparency throughout your entire financial close cycle—so you can close faster, with greater confidence.

For midmarket finance leaders, this addition to the Prophix One platform is a true breakthrough. Consider this: according to Activant Research, the Office of the CFO typically manages relationships with 20 different vendors. That’s 20 different contracts to manage, 20 different user interfaces, 20 different data integrations, 20 different security methods. With Prophix One Account Reconciliation, you can simplify your operations by consolidating applications under one roof, helping you achieve that elusive single version of the truth.

Now, let’s take a look at some of the key features of Prophix One Account Reconciliation

• Sans soudure collaboration: Via a comprehensive close management command center, monitor close progress by period and entity, and keep tabs on task completion, overall progress, and the status of every key account.

• Amélioré data quality: Reduce errors by eliminating manual data entry and reliance on multiple versions of spreadsheets. Create one version of the truth to trust and rely upon.

• Amélioré visibility into reconciliation process: Ensure a consistent, standardized, repeatable reconciliation process. Ensure visibility and accuracy for informed decision making.

• En temps réel updates: Don’t miss a reconciliation ever again. Deploy workflows to receive real-time updates, comments, and visibility into progress. When a reconciled difference nets out and is submitted, an approval request gets automatically triggered.

• Clear progress tracking: Tracking reconciliation progress is crystal clear via built-in Process Monitoring which provides a comprehensive, bird’s eye view of the progress of a reconciliation. The application’s Close Performance Analysis helps spot bottlenecks, anticipate challenges, and optimize resource allocation.

• Effortless close package generation: Even when audit season approaches, putting together close packages is easy. Choose accounts and the application will compile and export detailed information as an Excel output to provide everything auditors will need.

The early returns are in, and they’re overwhelmingly positive. Early adopters of Prophix One Account Reconciliation are singing its praises:

“Prophix’s approach is refreshing and innovative. It feels like you’re not just following the market leaders but actually setting new standards. I’ve used other solutions before, and I can see the significant advantages Prophix One Account Reconciliation brings to the table.

I’m confident that this product will be a game-changer for us. It’s easy to use, integrates well with our existing systems, and offers valuable features that streamline our reconciliation process.” -- Yu Gnezil, Controller, Jamul Casino

“Prophix One Account Reconciliation provides an accurate snapshot of where the close process is at by entity. The workflows also provide visibility of tasks and reconciliations in one spot.”
-- Julie Vin and Kaitlyn Panis, Manager, Corporate Accounting & Senior Corporate Accountant at Greenlaw Partners

“Prophix One Account Reconciliation will streamline our monthly close process and eliminate non-value add work.”-- Jennie Robinson, VP Controller, Kajima Building and Design Group

“Prophix One Account Reconciliation will ensure that reconciliations are completed quickly and stored in a central location.” -- Jenna Nosbush, Director of Finance and Accounting at ICBA

Learn more about Prophix One Account Reconciliation

Ready to learn more? Watch the webinar and hear early users share how Prophix One Account Reconciliation is changing the game and empowering finance teams.