Case Study: Veritas Petroleum Services achieves automated budgeting, forecasting and reporting with Prophix Software

Refining Financial Processes at Veritas Petroleum Services

Veritas Petroleum Services (VPS), a global provider of fuel testing, inspection and advisory services, faced a data challenge after an organisational change left them with far more information but no standard processes to manage it. Relying on Excel, the finance team struggled with slow, error-prone budgeting, forecasting and reporting and couldn’t deliver timely insights to management.

VPS implemented Prophix’s CPM software, integrated with Microsoft Dynamics AX, to centralise data and automate budgeting, forecasting and reporting. The solution created a single source of financial truth, reduced manual work and errors, sped up financial cycles and freed the finance team to focus on analysis and recommendations (with plans to extend automation to financial consolidation).

Veritas Petroleum Services