Forecastr vs. Prophix

Forecastr is great for any company who is looking to have clarity like never before on their finances, but it may be especially helpful for startups.

Incentivized

If the budgeting is done with Excel spreadsheets, and your company is small to medium in size, Prophix is the system for you! Additionally, if your company is also doing monthly forecasting in Excel, Prophix will save you time and reduce errors. There are also many other worthwhile features, such as Account Reconciliation and consolidations.

Incentivized

• Their onboarding with experienced CFO's is extremely helpful
• Their forecasting revenue models are easy to understand
• The budgeting and expenses section is better than anything else I've ever seen before.

Incentivized

• Reporting - single report that can be opened by multiple users, each will see only aspect specific to them based on their security access.
• Budgeting - workflow driven budget data collection, visibility of its current status, ability to take action to ensure timely completion. Ability to snapshot budget data at a point in time. Ability to perform what-if scenarios.
• Forecasting - as above with added benefit of either reusing budget level of grain or forecasting at high level.
• Granular planning - ability to create unlimited number of subsidiary models to assist with the planning process. Non-financial data collected during budget/forecast process help with operation planning and variance analysis.

Incentivized

• More youtube videos on walking through the software would be cool.

Incentivized

• Prophix could improve on its dashboarding capability - it is very basic and we always present our graphs/visuals in Excel.
• We would love it if Prophix could improve its line item detail reports. They are not great right after downloading and require a lot of manipulation in Excel.
• It would be awesome if we could fully integrate our invoicing software with Prophix. This would allow us to view invoices within Prophix rather than having to go into another tool.

The system works well for us, and meets all of our needs. All of our future plans can and will be achieved within Prophix, so there is no need to pursue another product. Prophix has continuously proven to improve their product over the years, which provides an even higher level of confidence in this tool, and future developments

I have used other reporting software over the years and so far this has been the simplest to set up, the most flexible to use and we have not yet used Prophix to its full capacity. Over the next year or so I can see us extending our use of Prophix to include any number of other functions.

Incentivized

The availability in Prophix is relatively good. We have occurred random outages in different versions that wipe out data, which can be brought back. Or we have ran into system wide slowness that impacts all users in the system, but we have been able to get more capacity to supply our performance.

Incentivized

Prophix has always performed consistently. We are using on-premise so many factors can contribute to slower than desired performance, most having nothing to do with Prophix itself. If we move to the web-client cloud based solution I believe performance will even be better.

Incentivized

The Prophix staff is very helpful and quick to respond. I like that they teach me instead of doing it for me when possible, so I don't have to contact them as often! Never talked to anyone at Prophix that I didn't respect or think highly of! Very professional, great customer service!

Incentivized

We worked with a consultant provided by the vendor for implementation. Training involved online and in person. The in person training was done throughout the implementation. It was very hands on training. As we worked through sections of the set-up, we were training on how to use various features within the product. It made learning the system very easy.

Incentivized

We used our system and created a test cube to work with our own data. We ran through the different functions of Prophix and covered alot of material. We did two sessions a week, with homework tasks assigned. We were able to ask questions and cover any questions during the followup sessions.

Incentivized

Prophix Consulting should bring, in house, chargeable expertise in Oracle EBS table access for Drill Across and provide reasonable limits on dimension member combinations so there are no unreasonable expectations about the application of multi dimensional cubes to detail, such as revenue by product and customer.

Incentivized

I wish I found Forecastr years ago. No other software has been able to simplify finances with models and forecasting in a very clear manner like this, plus, with the CFO addition, it's a breath of fresh air for the first time in 8 years of business with finances.

Incentivized

We felt Prophix was much more flexible than Briq and offered a more solid financial reporting and budgeting package. Briq is more custom built solution-focused. They build solutions to fit your specific needs. The primary reason we went with Prophix is that we wanted something we could tweak and design on our own after the initial build-out of the solution.

Incentivized

I gave Prophix a 10 on scalability because we currently deploy the solution to department heads across our entire organization and never have any issues with those individuals using or accessing the system to look at their financial information within premade templates . They currently enter budgets and review reports within the system currently. The only issue is they cannot typically use the ad hoc functionality because that would require higher level licenses that cost more and it is not worth it to give them more costly licenses since they really aren't working in the system quite like the robust finance users

Incentivized

• With clear data, I'm able to make better financial decisions on hiring/spending

Incentivized

• Prophix has made it possible to move away from some Excel reporting we were doing, which allows for 50% quicker reporting on a monthly basis.
• Although it has saved us time, an improved PowerPoint feature that automatically updates our decks would save an additional 75% on top of what we already do.
• Our Board Reporting has improved by 10 hours by moving our reports fully into Prophix.