Prophix Software, a global leader in Corporate Performance Management (CPM) software, announced Brooklyn, NY-based customer Dime Community Bank has achieved 71% return on investment (ROI) as a result of its deployment of Prophix CPM software for financial planning and reporting in the cloud, with total payback realized in approximately 18 months. Details of Dime Community Bank’s deployment of the Prophix solution is outlined in this case study from Nucleus Research. A subsidiary of Dime Community Bancshares, which manages more than $6 billion in assets, Dime Community Bank offers a full range of financial services to customers including Consumer and Business Banking, as well as Commercial Lending. Limited by cumbersome and time-consuming and error-prone manual spreadsheets, Dime deployed Prophix’s innovative and robust CPM to support its employees’ financial planning capabilities, without significantly changing workflows. Following a competitive search, Dime chose Prophix to help better manage and modernize its budgeting and financial data management capabilities across all of its departments in 29 locations. This includes automating the process of data collection and consolidation previously managed within manual spreadsheets, and introducing variance analysis to its strategic planning for higher-level results and reporting, including tracking actual performance against planned forecasts. “ROI is one of those key … Continue reading Dime Community Bank Receives 71% Return on Investment from Prophix Corporate Performance Management Software