Case Study: ParFi Group achieves flexible, automated consolidation and value-added reporting with Prophix Software

Accounting for complex consolidation structures with ParFi

ParFi, an independent fiduciary services firm founded in 1969 with about 100 employees, provides accounting, tax compliance and administrative services to clients from small companies to multinationals. As client needs grew more complex, ParFi needed a consolidation solution to handle international group structures, multiple currencies, frequent scope changes and diverse reporting requirements while letting their team set up packages independently.

In 2018 ParFi implemented Prophix’s flexible consolidation platform, giving staff full autonomy to configure consolidations, create a Luxembourg chart of accounts and produce tailored, audit-ready reports (equity justification, adjustment impacts, audit trails, intercompany reconciliation, currency reports). The result was faster, more accurate statutory and contractual consolidations, easier audits, automated financial statements and the ability to offer value‑added, low‑cost services adapted to each client’s complexity.

ParFi Group

Paul De Vuono

Consolidation Manager