Corporate performance management software developer Prophix Software has partnered with XBRL software solutions vendor Semansys Technologies to create Prophix XBRL Reporting to automate complex internal and external financial reporting processes.
Prophix XBRL Reporting can be used by companies of all sizes. It includes workflows to control the collection and review of data, the ability to manage periodic adjustments through journals, and an audit trail.
In the past, financial reporting often meant a call to the IT department to connect to data and accounts from various sources to generate even the simplest report, said Prophix vice president of product planning Geoffrey Ng. Now, instead of a call to IT, financial users can simply use the three-step report generation wizard to provide reports to the SEC and other regulatory bodies.
Based in the Netherlands, Semansys Technologies implements XBRL in daily reporting processes.
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