Alok is a visionary and thought leader in Prophix’s segment of SaaS technology, known as corporate performance management (CPM) software. With Prophix’s cloud-based, AI-powered CPM software, finance leaders improve profitability and minimize risk by automating budgeting, forecasting, and reporting. Alok inspires Prophix’s passion for continued innovation with a product portfolio that reinvents the way finance departments conduct business and helps them navigate today’s business landscape to drive competitive advantage. One of Alok’s greatest strengths is his commitment to growth and his ability to encourage the same level of commitment in his team. Prophix had a standout year in 2020, the year Alok transitioned into the role of CEO. Under Alok’s leadership, Prophix’s cloud customer base doubled from the year before. The momentum continued in 2021—Prophix saw its first quarter cloud billings increase by 74% from the same period last year and its cloud customer base grow by over 280%. Prophix saw growth in both vertical and international markets, including a 150% YOY increase in the construction sector and a 100% increase in bookings from the company’s UK operation. Alongside the business growth, the Prophix team also grew. In Q1 2021, the employee base expanded by 20%. Alok has always focused on intentional and strategic growth at Prophix. While Prophix has been in business for more than three decades, it purposely remained bootstrapped to better chart its own future despite numerous outside offers of funding. Many of Prophix’s competitors, most of whom have taken venture money or gone public, relied on acquisitions to innovate, but Alok led Prophix in its quest to develop its own technologies. It was only after hitting such milestones that Alok made the decision to capitalize on the opportunity to significantly scale Prophix in response to growing CPM market demand. In early 2021, Alok saw the company through its first-ever outside investment from leading global software investor, Hg, to accelerate and scale Prophix’s growth and fund further development of its product capabilities. In this new phase of growth, Alok remains focused on delivering continued innovation and outstanding customer experience, with a steady stream of product introductions. Staying ahead of what customers need with CPM technology has helped drive Prophix to an NPS score above 70 and greater than 100% customer retention. Alok’s commitment to his customers is another one of his key strengths. To stay innovative, competitive, and relevant in today’s market, an increasing number of organizations are turning to cloud-based software for their digital transformation strategy. Recognizing this, Alok spearheaded the company’s investment to move the Prophix software system to a cloud platform, enabling every customer to take advantage of the many benefits of the cloud. The Prophix team also worked with existing customers to make their transition to the cloud as seamless as possible. With the rapid growth of Prophix’s cloud offerings, the number of customers migrating to the cloud from on-premise has hit critical mass. Prophix is now proudly a cloud company. Alok’s strengths don’t just lie in the numbers side of the business. Alok believes deeply in the value of being a “purpose driven business.” With the conviction that purpose inspires employees, partners, and customers to drive positive change by rallying around a cause, Alok established Prophix’s Corporate Social Responsibility (CSR) program to drive change and create a lasting impact on the global community through meaningful programs and projects. Each quarter, upon achieving its revenue target, Prophix invests a minimum of $25,000 towards a major charitable project. Instead of prescribing a donation target, Alok encourages his employees to choose the organization to which the money will be donated, allowing their passions to take the lead and making the program personal. Alok has been instrumental in molding Prophix’s unique culture of employee commitment, professional growth, and passion for the business and the greater good. Alok himself rose through the ranks, starting as a sales manager 17 years ago and steadily moving into new leadership roles within different business areas, before becoming CEO in 2020. Alok’s focus on keeping the company agile has allowed Prophix to drive innovation and launch new functionality to the Prophix platform—allowing Prophix to anticipate, not react to, market demands and truly be at the forefront of what’s next in CPM software.
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President and CEO
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