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S7-200
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Prophix offers automation products mainly focused on financial processes, which are designed to eliminate errors, repetitive tasks, and the over – reliance on spreadsheets. The following is a detailed introduction:
- Variance Analysis Automation: Prophix utilizes artificial intelligence and cloud data analytics to automate variance analysis. This removes the possibility of entering incorrect variance explanations, enabling users to gain deeper data insights and enhancing confidence in data while eliminating the risks of manual data entry and independent spreadsheet updates.
- Process Automation: It can serve as an automated project manager. Powerful process workflows can automate complex and time – consuming processes such as budgeting, planning, forecasting, reporting, consolidation, and closing. These workflows can be easily configured with necessary dependencies. Once the previous tasks are completed, the subsequent tasks can be started automatically, with built – in approval mechanisms and transparency. Deadline notifications and reminders ensure that stakeholders are on the same page and responsible, thus ensuring the timely completion of processes.
- Data Collection and Validation Automation: Prophix can automate the integration with financial data sources, saving users time in data collection and validation. It allows for the scheduling of data imports and integrations without manual intervention, accelerating and improving the accuracy of imports, calculations, allocations, and key performance indicator (KPI) calculations. This enables users to focus more on value – added tasks such as analysis to support strategic business decisions.
- Repetitive Task Automation: The task assistant in Prophix acts as a virtual assistant, helping to automate repetitive tasks. Users can ask it to check daily tasks, schedule processes, or distribute reports to the team. By automating these tasks, which may take up about one – third of a finance manager’s time, it frees up managers to focus on more strategic work.
- Workflow Functionality: Prophix’s workflow allows users to view tasks in multiple perspectives, with visual displays enabling them to quickly understand task statuses. Project owners can restart tasks when necessary. There are multiple built – in options to promote task completion. Each task has a due date, and reminder notifications can be set. Task deadlines can also be configured, and tasks will be automatically completed when the deadline is reached. In addition, task descriptions can include optional information to help task owners.
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