Prophix Customer Story Asociación Popular de Ahorros y Préstamos

Prophix Customer Story
Asociación Popular de
Ahorros y Préstamos
“Working with Prophix’s software has
allowed our Finance Department
to spend the majority of our time on
valuable analysis, rather than running
manual processes. Until very recently,
this scenario was reversed.”
Liúsik Cuello Pérez
Planning Manager
Company Background
APAP’s Finance Department shed their
reliance on spreadsheets by implementing
software from Prophix. They now have an
automated budgeting process, generate
reports on-demand, and use their extra
time for analysis and recommendations to
the business’s leadership.
Capabilities Leveraged
The Asociación Popular de Ahorros
y Préstamos (APAP) is a private
financial institution that promotes
savings to finance the purchase,
construction, and improvement
of family homes in the Dominican
Republic. APAP has 52 branches,
which are distributed across the
country.
Company Overview
Budgeting
Analysis
Forecasting
Personnel planning
Reporting
CapEx planning
SAP integration
Microsoft Office integration
Operating since 1962
Industry: Financial services
Head office: Santo Domingo,
Dominican Republic
Website: www.apap.com.do
Annual revenue: $RD 8.5 billion
($185 million USD)
Number of employees: 1,021
ERP: SAP
Business Challenges
• The annual budget took more than
four months to build
• Creation and maintenance of more
than 250 Excel spreadsheets
• Exporting data from the ERP to
the budget spreadsheets and
manipulating data to fit in the related
formats
• Manipulation of personnel and capital
expenditures data (depreciation) for
inclusion in the larger budget
• Security conducted by manually
editing cells, lines, and columns in
customized spreadsheets for each
recipient
• Inability to make changes online
• Offline consolidation for every director
and vice president
• Requirement to manually email
budgets and forecasts to more than
100 users
• No flexibility to output various report
types
• 90% of time invested in creating
and verifying data, and only 10% on
analysis
Reasons for Selecting the
Software from Prophix
APAP’s Finance leaders recognized
that replacing Excel with Corporate
Performance Management (CPM)
software, which is pre-built to automate
the budgeting, forecasting, reporting,
and planning processes, could
improve the group’s output, provide
significant time savings, and increase
the quality of their analysis and business
recommendations.
Their evaluations pointed to the
following elements as differentiators for
Prophix’s software:
• Most cost-effective software solution
for mid-market companies
• Short implementation time
• Minimal requirements for IT support
(Finance leads the project)
• Capacity to easily create reports ondemand
• Role-based security access
(protecting sensitive information,
including salaries)
• Continuing support from
consultant(s), as needed
• Permanent access to online training
modules
“The ability to create all types of
reports on-demand is extremely
valuable to APAP. If you can imagine
the report, you can easily create it
with the software from Prophix.”
Liúsik Cuello Pérez
Planning Manager
Benefits
Reporting
Members of APAP’s Finance Department
have generated more than 200 different
types of formal reports. They also generate
ad hoc reports for quick analysis, focusing
on any hierarchy that matters to the
company, including accounts, divisions,
time periods, and more. The ability
to generate views of the company’s
performance has proven to be essential
for preparing the budget and monitoring
departments’ ongoing use of funds – even
more so because the Finance Team has
not needed to rely on the IT group for
support.
Budgeting
Today, APAP has a completely
automated budgeting process. This
process runs faster than ever before and
the Finance Department has noticed a
significant improvement in the integrity
of their information. Prophix’s workflow
functionality gives APAP a multi-user
forum that streamlines the steps of
submitting, sharing, reviewing, approving,
or rejecting inputs through each portion
of the budget’s construction. In fact, the
organization has more than 150 users
actively entering budget figures and
monitoring their progress relative to their
projected expenditures. Graphically
visualizing the annual budget’s status
allows vice presidents, directors, and
managers to remain updated regarding
changes that require their action along
the way.
Forecasting
In the near future, APAP will begin to
generate forecasts by grouping accounts
and costs centers, using the software from
Prophix to automatically extract source
data from their ERP (SAP). By consolidating
historical data, budget data, and actuals,
APAP will generate an accurate, forwardlooking view for the business.
Results of Using Prophix’s Software
• Complete automation of finance
processes
• Simple, automatic distribution of
budgets and reports
• Finance Team now focuses 90% of their
time on analysis
• Role-based security that protects the
distribution of confidential information
from reaching those who should not
have access
• Quick access to detailed payroll and
capital expenditures data, which loads
automatically
• Access to any report imaginable
• Zero requirement for data manipulation
using Excel
“Our 150 users have become very proficient at working with
the software from Prophix – in terms of creating the budget as
well as reviewing their expenditures on an ongoing basis.”
Liúsik Cuello Pérez
Planning Manager
About Prophix
Prophix develops innovative software that automates critical financial
processes such as budgeting, planning, consolidation, and reporting—
improving a company’s profitability and minimizing its risks. Thousands
of forward-looking organizations in more than 90 countries use software
from Prophix to gain increased visibility and insight into their business
performance.
DTS
Fusionworks Office
Prophix Offices
AV. 27 de Febrero No. 329
Torre Elite, 601,
Santo Domingo, RD.
809 363 0048
www.dts.com.do
Pico Center #120 Condado Ave.
Suite 102 San Juan, PR
00907-2755
1 (787) 721-1039
www.fwpr.com
Canada: +1 (905) 279-8711
USA: +1 (800) 387-5915
UK: +44 (0) 118 900 1900
Germany: +49 69 509 565 605
Brazil (Rio de Janeiro): + 55 21 3094 3904
Brazil (São Paulo): + 55 11 3583 1652
www.prophix.com