Case Study: Lighting the way to a better budget for Encore Electric
Key results
The challenge
Each budget cycle, Encore Electric managers spent close to 2,000 hours consolidating formulas and combining over 25 different spreadsheets, with heavy dependence on Microsoft Excel.
The solution
Encore Electric implemented Prophix One to automate its budget cycle with stakeholder contributions and to monitor KPI trends, reducing its reliance on Excel.
“With Prophix at our fingertips, I was able to coach the finance team to help others in the company access the data they need. It's helped us create a culture of self-service.”
JPJosh PaulCost Accounting Manager, Encore Electric
The results, in context
Encore Electric saved 1,800 hours by automating its budget cycle and cut budget setup time to 30 minutes with automated stakeholder contributions. Tracking variables at the appropriate level of detail improved days sales outstanding (DSO) by 40 days.