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ProForecast
by ProForecast
by ProForecast
Profile Information Last updated on: 1 July 2024
Profile Information Last updated on: 1 July 2024
We help make selecting a software for your business effortless, economical and efficient.
by ProForecast
by ProForecast
Profile Information Last updated on: 1 July 2024
Profile Information Last updated on: 1 July 2024
The implementation process for ProForecast software involves several key steps and is designed to be efficient to minimize downtime and ensure that users can quickly benefit from its features.
1. Integration with Existing Systems: ProForecast software can be integrated with other financial systems such as AccountsIQ. This integration allows users to import data from these systems, set budgets and targets, and update this data with actuals to monitor performance against forecasts.
2. Customization and Configuration: The software offers options for customization and configuration to meet specific business needs. This includes setting up custom reports, dashboards, and possibly custom modules or calculation engines depending on the business requirements.
3. Training and Support: ProForecast provides a comprehensive training and support package to ensure that the implementation process is smooth. Training is tailored to fit the company's timeline and is conducted on a one-to-one basis. This training is also fully documented to help new personnel get up to speed if staff changes occur.
4. Subscription and Pricing: The software is offered on a subscription basis, which means there are no major capital software investment requirements. This could make it easier for businesses to adopt and start using the software without significant upfront costs.
5. Implementation Timeline: The actual time required to implement ProForecast can vary depending on the specific needs and readiness of the business. However, the company ensures that implementation times are minimized through its structured training and support system.
ProForecast software involves several additional costs related to setup, maintenance, and support, which are crucial for potential users to consider:
1. Setup Fees:
- A one-time setup fee is charged for the Lifetime Training, Support & Implementation Package, which is priced at £2550 + VAT. This package includes comprehensive training tailored to fit around your company's timelines, ensuring minimal implementation times. The training is fully documented, and any new personnel replacing staff leavers are also covered under this program.
2. Maintenance and Customization Costs:
- Custom Reports & Dashboards, custom modules or calculation engines, and front-end customization are available at a cost of £600 per man day + VAT.
- Outsourced Forecast Building & Monthly maintenance services are also provided, which are charged on a per man day basis at the same rate.
- Demand Forecasting with a customized module has a cost that is to be announced (T.B.A).
3. Recurring Costs:
- Non-Financial Data Integrations are charged at £50 + VAT per month per integration, paid monthly in advance.
- There is also a higher tier of Non-Financial Data Integrations costing £60 + VAT per month per integration.
These costs reflect the investment needed not only for the initial setup but also for ongoing maintenance and customization, ensuring that ProForecast can be tailored to meet specific business needs and provide continuous support and updates.
1. Lifetime Training, Support & Implementation Package: ProForecast offers a one-time purchase Lifetime Training, Support & Implementation Package priced at £2550 + VAT. This package includes tailored training sessions designed to fit around the company's timelines, ensuring minimal implementation times. The training is conducted on a one-to-one basis and is fully documented to facilitate easy onboarding of new personnel replacing staff leavers.
2. Custom Development and Support: Users have the option to utilize ProForecast's Business Intelligence, Data Science, and Software Engineering teams to build custom modules, bolt-on applications, reports, and dashboards. This service is offered at a significantly lower cost than employing in-house development staff, making it a cost-effective option for customization needs.
3. Unlimited Support: ProForecast provides unlimited support as long as an active support contract is in place. This ensures that users have continuous access to assistance and guidance as they use the software.
4. Customer-Led Development: ProForecast emphasizes customer-led development, where they continuously listen to user feedback and evolve the software to meet the changing demands of the market. This approach ensures that the software remains relevant and effective for its users.
5. Outsourced Financial Planning: For businesses that prefer not to manage their forecasts internally, ProForecast offers outsourced financial planning services. Their FP&A consultants, who are experienced accountants, can build and maintain forecasts, providing professional oversight and insights.
These training and support services are designed to ensure that users can maximize the benefits of ProForecast software, making it easier to manage financial planning and analysis within their organizations.
The security measures in place to protect data in ProForecast software, as well as in the broader context of Corporate Performance Management (CPM) software, include the following:
1. General Security Disclaimer: ProForecast's Terms & Conditions acknowledge that while they strive to secure the software, they do not warrant that the SaaS (Software as a Service) is free of bugs, viruses, imperfections, errors, or omissions. They specifically disclaim any implied warranties to the extent permitted by law.
2. Robust Security Measures for CPM Software: CPM software, which includes ProForecast, typically holds important financial data, necessitating robust security measures. These measures often include audit trails, access controls, and encryption to protect sensitive data. Modern CPM systems are also designed to comply with changing data protection standards, ensuring that they can adapt to new security requirements.
3. Data Protection Compliance: ProForecast is likely to have security measures that align with industry standards for data protection. This includes taking appropriate technical and organizational measures against unauthorized or unlawful processing of data and against accidental loss, destruction, or damage to personal data.
While specific details about ProForecast's security measures are not provided in the sources, it is standard practice for CPM software providers to implement comprehensive security features to protect financial data. These features are essential to maintain the integrity and confidentiality of the data and to ensure compliance with data protection regulations.
ProForecast software, being a SaaS (Software as a Service) application, ensures that the version in use is always the current version. Updates may occur without the user's direct involvement, reflecting the typical management of updates in cloud-based software platforms. This approach allows ProForecast to seamlessly introduce new features, improvements, or fixes, ensuring that all users benefit from the latest advancements without needing to manually update the software on their end.
The Terms & Conditions of ProForecast acknowledge that the possession, installation, or use of the SaaS does not transfer any ownership, title, or registrable interest of any kind to the user. This implies that while users can access and use the software, they do not gain any proprietary rights over the software itself.
The nature of ProForecast as a cloud-based SaaS (Software as a Service) solution typically allows for flexibility in scaling. This flexibility is inherent in cloud services, which generally enable users to adjust their subscriptions and usage based on current needs without significant penalties or complex processes.
Additionally, ProForecast's integration with other financial systems like AccountsIQ suggests that it supports dynamic business environments where changes such as expansion, contraction, and other significant modifications are considered in its operational design. This integration facilitates seamless data flow and enhances the ability to adjust forecasts and reporting to meet changing business conditions.
For specific terms related to scaling the service up or down, users would likely need to review the contractual details provided upon signing up for the service or directly inquire with ProForecast to understand any potential costs or limitations associated with adjusting their service level.
1. Subscription-Based Service: ProForecast is described as a full cloud and browser-based solution with subscription pricing, which implies that users pay for the service on a recurring basis, such as monthly or annually.
2. No Major Capital Software Investment: The subscription model means there are no major capital software investment requirements to use ProForecast, suggesting that the financial commitment may be more flexible compared to purchasing a perpetual software license.
3. Custom Development and Support: ProForecast offers custom development services and outsourced financial planning, which are charged on a per man day basis. This indicates that there may be additional costs associated with specific services that could be subject to separate terms and conditions.
4. Lifetime Training, Support & Implementation Package: ProForecast offers a one-time purchase Lifetime Training, Support & Implementation Package. While this package is a one-time fee, it does not directly address the terms of software subscription renewal or cancellation.
5. Hosting and Data Centre: ProForecast is hosted at a data centre, which suggests that the infrastructure supporting the software is managed externally, potentially affecting how data is handled upon contract termination.
For specific terms regarding contract renewal and cancellation, users would typically need to review the contractual agreement provided by ProForecast at the time of purchase or directly contact ProForecast to request this information. The terms and conditions would outline the process for renewal, including any automatic renewal clauses, as well as the notice period and procedure for cancellation.
ProForecast software meets the following compliance standards:
1. ISO 27001 Certification: AccountsIQ, which integrates with ProForecast, is ISO 27001 certified. ISO 27001 is an internationally recognized standard for information security management systems (ISMS), ensuring that organizations are managing information security risks effectively. This certification indicates that AccountsIQ, and by extension, its integrated solutions like ProForecast, adhere to high standards of data security and integrity.
2. General Data Protection Regulation (GDPR): While not explicitly stated in the provided sources, as a software company operating within the scope of financial data and potentially dealing with European customers, ProForecast would be expected to comply with GDPR, which sets guidelines for the collection and processing of personal information from individuals in the European Union (EU).
3. Cloud Compliance: The mention of cloud hosting and data centers in relation to ProForecast suggests compliance with cloud security standards, which would typically include measures to protect data in the cloud, ensure data privacy, and secure data transfers.
By ProForecast