More accurate data in less time for SoundOff Signal
Key results snapshot
Time savings on month-end processes resulted in an annual savings of more than $14,000.
Improved income forecasting accuracy by 16.7%.
Increased accuracy of expense budgets by 32%.
Who is SoundOff Signal?
SoundOff Signal manufactures safety lighting products, sirens, speakers, and switches for emergency vehicles, school buses, and commercial vehicles. The company was founded in 1992 and has headquarters in Hudsonville, MI.
Business challenges
Soundoff Signal relied heavily on Excel spreadsheets for everything from personnel planning to monthly reporting. Budgeting involved circulating spreadsheets through 20 individual cost centers, often leading to confusion, poor coordination, and inaccurate, unreliable numbers. No matter how many people were involved, every financial workflow required compiling multiple Excel workbooks into a single, presentable format.
Financial processes had no standardized approach. Budget and revenue forecasting procedures changed from year-to-year, meaning leaders had little confidence in the results, and the data they received was rarely accurate.
Financial reporting was time-consuming and resource-intensive, burdened by hours of manual work, and it was too rigid to support the evolving needs of leadership
Applications deployed
Finanzplanung und -analyse
Our budget process was rough. Before Prophix, we had 20 cost center managers receiving an Excel workbook they would have to return with projected expenses to accounting. At this point, we had to combine them all into one master workbook. We wanted to streamline the process with a Prophix workflow they already knew how to use. Now, Prophix is doing the work for us. Just there alone, the time savings have been substantial.
Sabrina DeYoung
Senior Compliance Accountant, SoundOff Signal
Warum Prophix
For a platform to replace their Excel workbooks used for budgeting, forecasting, and reporting, it must allow department managers to input their projections and variance explanations. It should be user-friendly and accessible — and Prophix fit the bill.
SoundOff Signal’s stakeholders wanted a platform that could serve as a single source of truth for budgeting, forecasting, compliance reporting, and more.
It was critical to provide managers, sales teams, and other leaders with automatically updated financial data they could trust. Being able to reference data and also create scenarios right in Prophix was a game-changer.
Key results
Prophix has completely changed the way SoundOff Signal manages its financial processes. Since the finance team started using Prophix in 2016, they have been able to work more efficiently, with continuous improvements year after year. Collecting and consolidating data takes a fraction of the time it used to, while leadership can get up-to-date data they can feel confident about. Through automation, they have eliminated most time-consuming, resource-heavy manual tasks.
While Excel spreadsheets remain in use, their team now primarily relies on Prophix to manage most processes. SoundOff Signal uses Prophix for data aggregation and reporting, saving everyone time and providing dynamic dashboards for leaders at a moment’s notice. Even better, with Prophix, every process can be rigorously standardized, minimizing error and uncertainty. Executives and sales teams can get the data they need to keep the business growing.
With Prophix, SoundOff Signal was able to:
Improve leadership’s confidence in organization-wide data by increasing income forecasting accuracy by 16.7% and enhancing expense budget accuracy by 32%
Automate data collection and calculations for monitoring KPIs and budgets for each department.
Reduce the number of days to create monthly reporting packages from seven to three.
Dynamically generate up-to-date reports for board meetings.
Provide sales teams with updated data to adjust targets, refine strategy, and prioritize initiatives.
Remove ‘guesstimates’ from expense budgets.
Guarantee data integrity — no more conflicting Excel workbooks.
in Aktion