1. Tokio Millennium – Prophix story
Operating since: 2000
Head office: Pembroke, Bermuda
Annual revenue: $120 million (division)
Number of employees: Approximately 100 (division)
G/L or ERP: Microsoft Dynamics GP
Company website:
Company background:
Partner customer via Emergence Corp Limited.
Prophix advocates: Andrew Nesbitt (Assistant Vice President, Finance), Rhys Puddy (Senior Financial Applications Support Specialist) Tokio Millennium Re Ltd., a reinsurance company, writes property and casualty businesses primarily in Bermuda. The company participates in various excess of loss property catastrophe, workers' compensation catastrophe, crop/hail, and terrorism reinsurance contracts. It also offers catastrophe bonds, and reinsurance transfer/transformers, as well as provides reinsurance coverage for clients in the United States. The company's catastrophe reinsurance covers unpredictable events, such as hurricanes, windstorms, hailstorms, earthquakes, fires, freezes, floods, and other man-made or natural disasters. Its casualty lines of business include general and auto liability, and workers compensation. Tokio Millennium Re Ltd. operates as a subsidiary of Tokio Marine & Nichido Fire Insurance Co., Ltd.
Business problems that led to evaluating CPM, adopting Prophix:
Relied on spreadsheets. Lack of data integrity. Took too long to prepare plans, which were inaccurate. Limited flexibility in their budgeting process, inability to review scenarios. Lack of automation. Sought to improve reporting and analysis. Wanted to establish a formal system of record for planning data. Inability to control security / access to sensitive data.

2. Tokio Millennium – Prophix story
Their Prophix solution, benefits:
They have 7 models (cubes).
OpEx planning: Working in 2 cubes: Detailed Planning Manager and in a general and admin expense cube. prepopulating a forecast using actuals and plan data as a starting point for their annual budget. Previously took them weeks to build their annual budget. This simplifies the process, making it more effective and accurate, less labor-intensive. Users now spend more time analyzing the data.
Capital (CapEx) and IT expense planning: Detailed Planning Manager. Allows IT end users to enter their total budgets. The system calculates which items get capitalized (as fixed assets, amortized over time) and which get expensed. Tokio Millennium couldn’t achieve this in Excel previously without major time constraints. Helps to give them a more accurate budget / accurate projections.
Personnel expense planning: Detailed Planning Manager. Controlled by their HR department. Calculates salaries and various related expenses (work permits, benefits, insurance, living allowances). Previously took very long to build / maintain. Security important: HR sees data that finance cannot.
Revenue planning: Detailed Planning Manager. Ability to plan at the contract level. Revenues and related cost of sales spread based off of historical earning patterns. In a very challenging environment (reinsurance), they have an accurate picture of their future revenues and can conduct scenario planning to produce more accurate and timely forecasts to manage their business.
Data integration: direct integration with Microsoft Dynamics GP. Flat file integration with their insurance software. SharePoint integration within their revenue planning process.
Currency conversion: Allows users the ability to enter planned revenues in multiple currencies. System converts to US dollars. Allows them to evaluate whether variances are due to currency fluctuations or other factors. Overarching value: offers a clearer and more timely picture of their financial position.
Future plans:
Direct integration with their insurance software.

3. Supporting data: Life cycle Industry (choose all that apply)
☐ New implementation
Implementation date: ________________
☐ Preexisting customer YES
Original implementation date: Q2 2013
☐ Existing customer, upgrading
Original implementation date: ________________
Industry (choose all that apply)
☐ Agriculture, forestry, and fishing
☐ Professional services
☐ Financial services YES (reinsurance)
☐ Retail
☐ Wholesale and distribution
☐ Telecommunications
☐ Healthcare
☐ Utilities
☐ Education
☐ Architecture, engineering, and construction
☐ Life science
☐ Transportation and logistics
☐ Manufacturing
☐ High tech
☐ Media and entertainment
☐ Government
☐ Non-profit

4. Supporting data: Solutions built Capabilities used ☐ Budgeting YES
☐ Automation YES
☐ Forecasting YES
☐ Prophix Mobile
☐ Reporting YES
☐ Data integration YES
☐ Strategic planning YES
☐ Business modeling YES
☐ Financial consolidation
☐ Microsoft platform integration YES
☐ Analysis YES
☐ Role-based security YES
☐ Profitability analysis YES
☐ Collaboration YES
☐ Personnel planning YES
☐ Flexible deployment
☐ Project planning
☐ Ad hoc reporting and visualization YES
☐ Revenue planning YES
☐ Capital expenditures planning YES
☐ Reporting and analytics
(dashboards and scorecards)