Profitbase Review

Financial and Operational Planning

With Profitbase, you no longer need to rely on traditional methods of conducting business planning that are time-consuming and error-prone. The platform delivers easy-to-use, advanced, and adaptive tools that allow you to collect, prepare, and set up all the data you need for generating financial and operational plans. 

For instance, Profitbase permits you to create profit-loss reports to simplify and enhance account planning. You can input and aggregate budget and forecast data gathered from various business units into these reports. It also lets you automatically calculate your total staffing costs based on the payroll data you provided for each employee, such as salary, overtime, and bonus. 

Predicting the financial performance of your projects is made easy as well. You can identify possible delays and extensions in your projects and understand how they might affect the profitability of the projects in terms of income and direct costs. 

Process Execution

Profitbase helps you improve how key financial and accounting processes in your organization are being executed. You can take advantage of its consolidation solution to implement a streamlined and accurate closing process. This solution comes with built-in reports that automatically shows errors and differences in trades and transactions between companies. 

Using a drill-down functionality, you can go down at the account and transaction level, match transactions between companies or parties, and discover the root causes of inter-company errors and differences. This way, you’ll be able to fix the errors and differences immediately before the closing process starts. 

Profitbase also provides you with a comprehensive tool that simplifies the execution of processes related to the management of your organization’s loan and lease portfolios. The tool enables you to easily handle the entire lifecycle of loans or leases so you can save time, cost, and human resources while having the opportunity to reduce risk. 

Business Intelligence

The business performance management platform uses advanced and sophisticated reporting tools and modelling techniques to collect, process, and present data. It gathers business data from ERP systems, social media platforms, and public sources of information, giving you easy and quick access to all key information and figures you need.

Moreover, Profitbase allows you to simulate and analyze different possible outcomes and scenarios and understand their financial impact. You can configure settings for elements or group elements such as products, costs, and purchase goods to come up with best and worst-case financial situations.

The financial simulation functionality also lets you create and analyze business scenarios by taking into account external events. These include increase in the prices of incoming and outgoing goods, changes in the market, revenue, or production, acquisition of new investments, and establishment of new stores or production facilities.