Start your thin ledger journey with us today!
There is an area within Enterprise Performance Management that has been clumped into a category where it doesn’t fit and it is around allocations from profitability. We have been doing profitability projects for many years using Oracle software and we did a project for Amazon where we were able to greatly reduce their time to process and time to see allocated numbers in their month end, and all of their period ends. We did that project using the Oracle Profitability Software, but we decided that we would build a better piece of software that would run against any database, any cloud, any general ledger and allow companies to see fully allocated P&L (Profit and Loss), cash flow and balance sheets within minutes versus waiting for them. There is something known as the Thin Ledger concept that has been around for corporate finance for many years and we feel our software is the very first one to fully meet the requirements of users who desire to see financial data in a Thin Ledger concept.
It will be used by the very largest Fortune 5000 companies as well as companies over $100 million with some complexity around their ability to understand where they are profitable. The key tenant of the application is to understand where you are profitable, where you are not profitable, so they can do more of this and less of this to make decisions. This is key in making the office of the CFO and the office of finance real business partners within large organizations, because they can bring serious data-driven capabilities that would help out the CEOs.
Some companies might run it daily. For example, a Papa John’s might want same store daily sales information. What if they got it fully allocated or understood the exact profitability of where they are at the product level? This is an amazing way to open up the ability to make decisions. You are trying to make decisions on where you are going to sell, where you are going to market, why you are going to market there, and where you are going to be the most profitable, and this is what this product does.
We will do implementations as Proffito, but our preference is we will align you with a top partner trained to implement and support the Proffito Thin Ledger solution. We are not interested in being a services company, we want to have our channel and have the best and brightest doing these implementations.