IBM Planning Analytics vs. Prophix

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
IBM Planning Analytics
Score 8.4 out of 10
N/A
IBM Planning Analytics, powered by IBM TM1®, is an integrated planning solution designed to promote collaboration across the organization and help keep pace with the speed of modern business. With its calculation engine, this enterprise performance management solution is designed to help users move beyond the limits of spreadsheets, automating the planning process to drive faster, more accurate results. Use it to unify data sources into one single repository, enabling users to build…
$825
per month 5 users
Prophix
Score 8.2 out of 10
Enterprise companies (1,001+ employees)
Prophix helps finance leaders to improve the speed and accuracy of decision making. Prophix’s Financial Performance Platform enables finance teams to reduce complexity and uncertainty, and illuminate insights with access to AI insights and planning, budgeting, forecasting, reporting, and consolidation functionalities.N/A
Pricing
IBM Planning AnalyticsProphix
Editions & Modules
Essentials
$825
per month 5 users
Standard
$1,650
per month 10 users
No answers on this topic
Offerings
Pricing Offerings
IBM Planning AnalyticsProphix
Free Trial
YesYes
Free/Freemium Version
YesNo
Premium Consulting/Integration Services
YesYes
Entry-level Setup FeeOptionalOptional
Additional Details
More Pricing Information
Community Pulse
IBM Planning AnalyticsProphix
Considered Both Products
IBM Planning Analytics
Chose IBM Planning Analytics
Compare to its competition it has good visual and graphical interface that helps to customized according to user needs. It helps to apply the best possible algorithm according to different model scenario that provides the best possible results. Predictive forecasting and AI …
Prophix

No answer on this topic

Top Pros

No answers on this topic

Top Cons

No answers on this topic

Features
IBM Planning AnalyticsProphix
BI Standard Reporting
Comparison of BI Standard Reporting features of Product A and Product B
IBM Planning Analytics
8.9
82 Ratings
10% above category average
Prophix
7.6
4 Ratings
6% below category average
Pixel Perfect reports8.473 Ratings00 Ratings
Customizable dashboards9.382 Ratings7.33 Ratings
Report Formatting Templates8.977 Ratings8.04 Ratings
Ad-hoc Reporting
Comparison of Ad-hoc Reporting features of Product A and Product B
IBM Planning Analytics
8.8
87 Ratings
6% above category average
Prophix
8.8
86 Ratings
6% above category average
Drill-down analysis9.485 Ratings9.585 Ratings
Formatting capabilities9.386 Ratings8.684 Ratings
Integration with R or other statistical packages7.566 Ratings00 Ratings
Report sharing and collaboration9.083 Ratings8.480 Ratings
Report Output and Scheduling
Comparison of Report Output and Scheduling features of Product A and Product B
IBM Planning Analytics
8.3
85 Ratings
1% above category average
Prophix
8.8
79 Ratings
7% above category average
Publish to Web7.880 Ratings00 Ratings
Publish to PDF9.379 Ratings9.074 Ratings
Report Versioning8.379 Ratings8.054 Ratings
Report Delivery Scheduling7.670 Ratings9.267 Ratings
Data Discovery and Visualization
Comparison of Data Discovery and Visualization features of Product A and Product B
IBM Planning Analytics
7.9
85 Ratings
3% above category average
Prophix
7.3
27 Ratings
5% below category average
Pre-built visualization formats (heatmaps, scatter plots etc.)9.385 Ratings00 Ratings
Location Analytics / Geographic Visualization8.180 Ratings00 Ratings
Predictive Analytics7.676 Ratings7.327 Ratings
Pattern Recognition and Data Mining6.89 Ratings00 Ratings
Access Control and Security
Comparison of Access Control and Security features of Product A and Product B
IBM Planning Analytics
9.1
88 Ratings
4% above category average
Prophix
8.9
83 Ratings
2% above category average
Multi-User Support (named login)9.686 Ratings9.480 Ratings
Role-Based Security Model9.687 Ratings8.880 Ratings
Multiple Access Permission Levels (Create, Read, Delete)9.688 Ratings8.883 Ratings
Report-Level Access Control8.713 Ratings8.625 Ratings
Single Sign-On (SSO)8.282 Ratings00 Ratings
Mobile Capabilities
Comparison of Mobile Capabilities features of Product A and Product B
IBM Planning Analytics
7.4
78 Ratings
8% below category average
Prophix
9.6
40 Ratings
18% above category average
Responsive Design for Web Access7.577 Ratings9.640 Ratings
Mobile Application6.941 Ratings00 Ratings
Dashboard / Report / Visualization Interactivity on Mobile6.950 Ratings00 Ratings
Budgeting, Planning, and Forecasting
Comparison of Budgeting, Planning, and Forecasting features of Product A and Product B
IBM Planning Analytics
9.4
92 Ratings
12% above category average
Prophix
9.1
183 Ratings
9% above category average
Long-term financial planning9.590 Ratings9.0149 Ratings
Financial budgeting9.592 Ratings9.0178 Ratings
Forecasting9.592 Ratings9.0170 Ratings
Scenario modeling9.591 Ratings9.5137 Ratings
Management reporting8.891 Ratings9.0175 Ratings
Consolidation and Close
Comparison of Consolidation and Close features of Product A and Product B
IBM Planning Analytics
8.5
86 Ratings
5% above category average
Prophix
8.4
148 Ratings
4% above category average
Financial data consolidation9.382 Ratings9.6124 Ratings
Journal entries and reports8.377 Ratings9.376 Ratings
Multi-currency management8.876 Ratings8.159 Ratings
Intercompany Eliminations7.676 Ratings8.870 Ratings
Minority Ownership6.969 Ratings7.027 Ratings
Local and consolidated reporting9.579 Ratings9.0104 Ratings
Detailed Audit Trails9.381 Ratings7.484 Ratings
Financial Reporting and Compliance
Comparison of Financial Reporting and Compliance features of Product A and Product B
IBM Planning Analytics
8.7
87 Ratings
5% above category average
Prophix
8.4
175 Ratings
2% above category average
Financial Statement Reporting9.583 Ratings9.1158 Ratings
Management Reporting8.984 Ratings9.3169 Ratings
Excel-based Reporting9.586 Ratings8.9153 Ratings
Automated board and financial reporting8.976 Ratings8.6132 Ratings
XBRL support for regulatory filing6.955 Ratings6.43 Ratings
Analytics and Reporting
Comparison of Analytics and Reporting features of Product A and Product B
IBM Planning Analytics
9.1
88 Ratings
12% above category average
Prophix
7.9
152 Ratings
2% below category average
Personalized dashboards9.487 Ratings8.6140 Ratings
Color-coded scorecards9.383 Ratings8.0100 Ratings
KPIs9.486 Ratings7.8109 Ratings
Cost and profitability analysis9.486 Ratings7.7109 Ratings
Key Performance Indicator setting9.485 Ratings7.588 Ratings
Benchmarking with external data7.958 Ratings7.559 Ratings
Integration
Comparison of Integration features of Product A and Product B
IBM Planning Analytics
8.9
88 Ratings
7% above category average
Prophix
9.1
171 Ratings
9% above category average
Flat file integration8.985 Ratings8.9135 Ratings
Excel data integration9.586 Ratings8.9149 Ratings
Direct links to 3rd-party data sources8.278 Ratings9.3130 Ratings
Best Alternatives
IBM Planning AnalyticsProphix
Small Businesses

No answers on this topic

IBM Planning Analytics
IBM Planning Analytics
Score 8.4 out of 10
Medium-sized Companies
Centage
Centage
Score 9.6 out of 10
Centage
Centage
Score 9.6 out of 10
Enterprises
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 8.2 out of 10
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 8.2 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
IBM Planning AnalyticsProphix
Likelihood to Recommend
9.5
(98 ratings)
8.6
(201 ratings)
Likelihood to Renew
9.1
(5 ratings)
10.0
(16 ratings)
Usability
8.2
(63 ratings)
8.9
(43 ratings)
Availability
-
(0 ratings)
9.2
(25 ratings)
Performance
-
(0 ratings)
8.6
(24 ratings)
Support Rating
9.3
(88 ratings)
8.0
(120 ratings)
In-Person Training
-
(0 ratings)
8.3
(10 ratings)
Online Training
-
(0 ratings)
8.7
(12 ratings)
Implementation Rating
-
(0 ratings)
9.0
(19 ratings)
Configurability
-
(0 ratings)
8.7
(11 ratings)
Ease of integration
-
(0 ratings)
8.6
(27 ratings)
Product Scalability
9.1
(1 ratings)
9.1
(22 ratings)
Vendor post-sale
-
(0 ratings)
9.1
(20 ratings)
Vendor pre-sale
-
(0 ratings)
8.8
(18 ratings)
User Testimonials
IBM Planning AnalyticsProphix
Likelihood to Recommend
IBM
I would be likely to recommend IBM Planning Analytics, particularly in scenarios where comprehensive financial and operational planning is essential. For instance, in our construction company, it is awesome for optimizing resource allocation across multiple projects, creating detailed project budgets, and conducting risk analysis to mitigate project uncertainties.
Read full review
Prophix Software
Being able to allow all budget holders access to their reports via Prophix and having charts on the dashboards which give an image of where we are financially as a company each month is really helpful, our users appreciate the access and not receiving emails with reports. The drill down in the reports provides much more detail for the budget holders and going forward we are going to try to use the line item details to provided a greater amount of information. Using the Detailed Planning Manager for Personnel Planning during budget setting was a game changer - being able to view the costs and being much more accurate with regard to start and end dates and applying a cost of living increase which we could adjust to see how it would affect the budget overall was really helpful.
Read full review
Pros
IBM
  • Forecasting after taking into account seasonal trends and exceptional transactions
  • Unlike spreadsheets, there is no fear of an user making changes to the mastercopy accidentally. Each user gets his or her own workspace to analyze.
  • For entities operating in multiple countries, connects seamlessly with IBM Cognos Controller for taking into account variation in currencies
Read full review
Prophix Software
  • ONU has benefitted by moving away from a centralized, Excel-based budget process by implementing Prophix to a decentralized process that engages budget managers in the development of the University's budget.
  • Prophix offers tremendous flexibility in reporting that is not available through our ERP system.
  • Prophix is very adaptable to many different types of industries. Its flexibility and adaptability is one of its biggest strengths.
  • The ability to set up workflows for a variety of tasks within Prophix is very beneficial for tracking purposes.
Read full review
Cons
IBM
  • IBM Planning Analytics was an upgrade from an older version of TM1 that is experiencing some growing pains, some functionality is harder to reach than it has been in the past
  • It is easy to learn as a surface user with created reports, but it does require some technical skills to make advanced calculations and reports if there is no reliable consultant available, much like Excel
Read full review
Prophix Software
  • Version control; there are issues using the same budget version in multiple years if adding detail (line item detail). What Prophix has explained as a benefit is a huge detriment for us and we've been working with them for 6 months on a fix and it's yet to get resolved
  • There are certain aspects that a messy; within our budgeting and forecasting detail, we have "unexplained balance" lines that show up that are distracting and add no value.
  • Lack of a centralized location for content outside of tool; for example, training, help, support, intranet, etc are all separate websites and not easy to get to. I'm not sure why all of this isn't linked to the same account and accessible through the tool. Why should we need separate passwords for everything Prophix?!
Read full review
Likelihood to Renew
IBM
Since IBM Cognos Express is suitable only for medium data warehouse environment, we are not sure if this tool solves the long term need as the business keeps growing rapidly. So its a 50/50 ratio to renew Express license. But having said that, the components of IBM Cognos Express are also available in other Cognos BI suites like Cognos 10.x version. So we will probably upgrade our environment to IBM Cognos 10.x which comes with more new features.
Read full review
Prophix Software
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
Read full review
Usability
IBM
For developers, admins and end users looking for flexibility, IBM Planning Analytics would rate very highly on usability. For example, a developer has access to a highly performant built-in ETL (Extract Translate Load) tool and scripting language called Turbo Integrator that can (among other things) bring in data via flat file or direct connection from many data sources, move data around Planning Analytics, perform batch calculations, export to files or other data stores. In the rare situation where limitations are encountered there is a well documented REST API. Admins and end users benefit from the intuitive PAW (Workspace) interface as well as the rich Excel integration through Planning Analytics for Excel (PAfE). Since flexibility inherently comes with a little more complexity, so an organization with simple and "cookie-cutter" requirements may rate Planning Analytics a little lower.
Read full review
Prophix Software
The
data can be sliced and diced many ways, and each user is able to do it however
they like. It is easy to create or run existing reports. We have made many of
our processes more efficient, and Prophix has allowed us to save more time than
you can imagine. We
are able to use Prophix for Expense tracking, Expense and Capital planning, reforecasting,
Compensation planning, Project tracking, Expense allocation, GAAP PLOB
reporting, and still have several more tasks to implement through Prophix
Read full review
Reliability and Availability
IBM
No answers on this topic
Prophix Software
Prophix's CS is one of the best that we communicate with. Response time is reasonable, and they can communicate via email or phone or Teams. Multiple ways to communicate and if any additional questions that they cannot answer, i am redirected to the correct individual to assist
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Performance
IBM
No answers on this topic
Prophix Software
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.
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Support Rating
IBM
Although I find the IBM Planning analytics documentation quite time consuming, their support with email and call is something i can term as very considerate and patient, I have had few calls about the features and how i would want to implement them within my projects, and the teams have been super helpful to resolve my issues
Read full review
Prophix Software
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!
Read full review
In-Person Training
IBM
No answers on this topic
Prophix Software
The initial integration consultant was very helpful in making sure we were set up with all the essential uses we required: reporting/budgeting/forecasting. There was a learning curve but our consultant made it very easy to understand and helped me be comfortable in my Global Admin role in the system. Even after integration, we were given support whenever I came up with an idea I would get in touch and I would be trained on how I can implement it.
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Online Training
IBM
No answers on this topic
Prophix Software
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.
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Implementation Rating
IBM
No answers on this topic
Prophix Software
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.
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Alternatives Considered
IBM
Anaplan does not handle sparsity; this is very problematic for large volume data sets (many 0's). There also are limitations to the number of dimensions that can be used in a module. If more dimensions are required, then separate modules need to be built and intertwined. IBM PA does not have these limitations.
Read full review
Prophix Software
We found Prophix to be more flexible than the other solutions. It proved to have less of an implementation timeframe, and we felt more comfortable supporting the system ourselves post-implementation. We were also surprised to find that Prophix's pricing was more competitive than its rivals, which made the decision process quite easy.
Read full review
Scalability
IBM
No answers on this topic
Prophix Software
We are a medium sized company, but the structure of Prophix would seemingly adapt to whatever sized organization you have. It also can be applied in any area of an enterprise that needs performance management, whether it involves financial data or not. The potential for application within the enterprise is really only limited by you imagination.
Read full review
Return on Investment
IBM
  • One of the advantage is on its ability to ease budget and planning
  • Secondly,the fact that it allows for forecasting means based on such insights means that organisations are able to prepare for future eventualities
  • Thirdly, since it can accommodate data from multiple sources means that one is able to carry out best business practices like planning.
Read full review
Prophix Software
  • The greatest impact Prophix has had is provided useful data for business decisions, especially with variance analysis and real time production data.
  • Prophix has saved our company a considerable amount of time during our budgeting/forecast process as well as reporting actuals and variance to managers.
Read full review
ScreenShots

IBM Planning Analytics Screenshots

Screenshot of Workflow managementScreenshot of Income statementScreenshot of Margin analysisScreenshot of Metrics managementScreenshot of Income statementScreenshot of Expense analysis

Prophix Screenshots

Screenshot of Chart Insights, one of the AI Insights capabilities that utilizes Artificial Intelligence and Natural Language Processing to provide enhanced business awareness.  Chart Insights extends the important details contained within dashboards, and analyzes the complete dataset behind the dashboard, automatically surfacing the data relationships not obvious in dashboard visualizations alone. It then provides an efficient summary of key performance metrics found buried within Prophix charts.  It also summarizes the important insights in plain English.Screenshot of Prophix's self-serve dashboards and visualizations, directly integrated with data, workflow tasks, announcements, and external URLs and databases.  Dashboard Studio helps users to be informed and make better business decisions.Screenshot of detailed interactive charts and graphs that Prophix offers to uncover insights. Prophix’s visual analytics are linked directly to data with transaction details.  There is no need to input the numbers.  Prophix does this tedious work, automatically.Screenshot of Prophix’s Workflow Manager, used to assign tasks to users and facilitate approvals across the business.  Stakeholder input can be captured directly with the ability to add comments and notes in a single unified database.Screenshot of Cell Comments allow users to add supporting details like notes and attachments to data.  Since comments are stored with the data, they can be viewed in any template along with their trailing history. Cell Comment Reports can also be generated to show all comments from any data view in one convenient report.