Prophix Collaborates with PwC Canada to Modernize the Tax ProcessJune 9, 2020
Prophix and PwC Canada to leverage CPM software to innovate and automate financial processes
MISSISSAUGA, ONTARIO – Prophix Software, a global leader in mid-market Corporate Performance Management (CPM) software, announced today a new collaboration with PwC Canada, one of the world’s largest professional services firms. Together, they will address financial budgeting, forecasting, and reporting processes at large, with a focus on innovating and modernizing tax processes.
Prophix’s program management team and PwC’s tax reporting and strategy team will leverage Prophix’s existing CPM functionality to support a highly automated solution for existing clients and future customers.
With Corporate Performance Management (CPM) software, users can fully configure the allocation of their corporate costs and revenues to the appropriate functional area within their organization. This is beneficial for companies with operations that cross state, provincial, or international borders.
Users can also automate reporting for multiple allocation scenarios to determine the impact on their bottom line across different geographies, currencies, and tax codes. This will provide visibility and auditability across the business, from data entry through to formal reporting.
The proposed solution will be rigorously tested by Prophix and PwC and will be easily expanded and altered to address the unique needs of different businesses. This partnership will also yield a significant return on investment for existing clients of both Prophix and PwC.
“There is no better time than right now for companies to modernize their financial processes,” said Alok Ajmera, COO of Prophix Software. “Our collaboration with PwC will allow the Office of Finance to gain visibility into the health of their business and navigate market changes with confidence.”
“We are excited to be working with Prophix Software to help our clients modernize financial and tax processes and drive efficiencies,” said Junaid Mirza, Partner, PwC Canada. “We are committed to our clients’ success and this collaboration will allow us to bring innovative solutions to our clients to help them get more out of their enterprise investments.”
About Prophix Software
Your business is evolving. Your systems should evolve too. Achieve your goals more successfully with Prophix’s innovative Corporate Performance Management (CPM) software. Improve profitability and minimize risk when you automate repetitive tasks and focus on what matters. Budget, plan, consolidate and report automatically. Whether in the cloud or on-premise, Prophix supports your future with a platform that flexes to suit your strategic realities, today and tomorrow.
About PwC Canada
At PwC, our purpose is to build trust in society and solve important problems. More than 7,850 partners and staff in offices across the country are committed to delivering quality in assurance, tax, consulting and deals services. PwC Canada is a member of the PwC network of firms with more than 276,000 people in 157 countries. Find out more by visiting us at www.pwc.com/ca.
© 2020 PricewaterhouseCoopers LLP, an Ontario limited liability partnership. All rights reserved.
PwC refers to the Canadian member firm and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see http://www.pwc.com/structure for further details.
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