Case Study: Dime Community Bank achieves 71% ROI and faster, more accurate budgeting with Prophix Software

Dime Community Bank - Customer Case Study

Dime Community Bank, a Brooklyn-based bank with 29 branches and more than $6 billion in assets, faced growing pain from Excel-based budgeting as it expanded budget responsibilities across departments. Manual templates and fragmented data made consolidation slow and error-prone, preventing timely company-wide reporting and hindering the bank’s growth and reporting goals.

Dime implemented Prophix Cloud—selected for rapid deployment, flexibility, and ease of use—to automate consolidation, standardize reporting templates, and enable variance analysis. The rollout reduced manual work, improved budget accuracy and collaboration, and delivered a 71% annual ROI with a 1.6-year payback, producing significant time savings and measurable net benefits over three years.

Dime Community Bank