OneStream vs. Prophix

OneStream is best suited for medium to large companies that find themselves doing a wide variety of manual processes during their financial close cycle will get the most benefit. That does mean a lot of change so there has to be very intentional communication around change management in order to get the buy in that is necessary for success.

Incentivized

Prophix is best suited if you have a very extensive budgeting process that currently relies on multiple Excel spreadsheets. It is also great if you have on-prem tools that may no longer be supported for reporting. It may not be appropriate if you require an unlimited number of mid-tier users, as it can be very expensive annually. It's definitely not a cheap tool, but the cost can at least be optimized based on users' use cases. In both organizations I've worked for that use it, cost has been mentioned.

Incentivized

• Consolidation engine is powerful, we have around 500 entities translating from multiple source currencies into a common currency at good speed.
• We leverage the Flash and Quarterly forecast providing users with pre seeded data so they only need to make tweaks rather then filling in a lot of manual forms.
• We use Transaction matching for processing a lot of intercompany matching invoices from the ERP systems which helps end users a lot. Data is fed in from source ERPS and TXM generates the auto matches based on criteria provided.
• We have a custom Tax module which we use to pull in tax entries from the consolidation side and this gives the Tax teams starting position for their tax calculations and enables them to also do a quarterly forecast estimate.
• OneStream has great dashboarding capabilities for a whole range of use cases from charts and graphs, to drill-back data to running even steps that users can execute without having access to the source code/rules in the background!

• Reports are very customizable - once you learn how to create reports, it is really easy to design the final output you'd like.
• The tool is easy to use, especially for those that don't work in the finance function.
• It offers an excellent workflow capability to send out tasks to cost center owners all over the company.
• We love the ability to create and customize cubes.

• Provide some more prebuilt dashboards that serve as reference examples for specific topics, to allow users to gain an idea of all that is possible
• Provide some clear cut explanations to explain some of the standard concepts, to allow companies that start their implementation to gain a quick understanding of how things work

• Ability to filter report views for report binder without creating duplicate reports.
• More extensive documentation and examples in the ProCalc library.
• More ProCalc functions that deal with the time dimension and allow functions that can utilize the system date. So if it is day 8 of the month.
• Ability to save company color scheme for use in reporting.
• Would like to create a link between the account dimension and another dimension so I can easily report on account properties. For example, an account property could be columns in a report.
• Would like to see the ability to have a report view on a dashboard. The tables are poorly formatted, and I’d like more formatting ability.

Incentivized

Currently we are using OneStream with people 80 - 100 to load the PL, BS , Forecast budget and People Planning. OneStream give us more visibility on trend and way forward thinking. Thanks to OneStream for the tool which helps the business in growing way. Thinking of innovation OneStream is right path.

Incentivized

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

Overall usability as an end-user is very easy. There are more people in the system getting information now than the prior platform used. People are gathering their information quicker as well. From an administrator standpoint, there are fewer glitches and issues than the prior platform. This is very good.

Incentivized

I don't rate anybody a 10 because I believe there's always room for improvement, so I'll go with an 8. And I'm giving 8 because it has helped us do more than we were doing before, and I believe there's still room for improvement.

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

OneStream support is focused on the infrastructure. Which means mainly when there issues with accessing to the system, they will be able to help. When the question is to much leaning towards functional it really becomes billable. The other issue is that the response time is not optimal. There is a lot of pingpong of messages and the time between the message can sometimes be long. Sometimes this result into a simple ticket to be taking days before it is closed.

Incentivized

We’ve gotten moved around a lot and so we don’t always know our pod people. Also when we book sessions with a random person it seems like we have to take the first 15-20 minutes explaining our system and process.

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

onestream offers a range of training. I have attended a number of trainings. During the trainings a vast amount of information is discussed. The trainings also include exercises. The speed of the training is pretty high. When reviewing the training material afterwards, I found that the material is not complete as reference as it relies also very much on the verbal explanation and elaboration.

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

Since company's IT department was not part of the implementation and it was done only by an executive assistant who did not have extensive knowledge about finance and accounting it was done VERY Poorly and haphazardly. Nothing was done properly and it was not planned correctly. It worked for short term but after 2 years we had to re-do all the cubes and it was very hard to fix and correct things

Incentivized

OneStream is much more robust, has functionality around creating financial statements in Common Currency which other systems we used could not handle. OneStream has a really good structure around it. We believe it's a much better fit for a Global company of our size. We're just scratching a surface of what the system capabilities are.

Incentivized

Prophix is so much easier to use that other platforms or products. It can be customized so much easier than other larger, more expensive products. I work for a small university where we have a small finance team and Prophix allows us to tailor reporting to emerging needs in real time without having to reconfigure clunky systems with expensive modifications

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

• Customers have moved from multiple EPM systems as well as multiple EPM applications to OneStream.
• Their ROI has been quite high as lesser admins are required, no need to move data back & forth, no need for an additional dashboarding / BI tool, once a user is on OneStream can leverage it for more than 50+ use cases at no additional license cost.
• Automation, direct integration, scheduling, complex calculation capabilities, all help to further improve ROI and free up the time for the team to do value-adding tasks.
• Last but not the least is the confidence on the numbers is much higher.

• Reduced time to produce reports and compile budget leaving the team with more time to analyse the data, rather than concentrating on just compiling reports or budgets.
• Improved visibility and variance reporting capability providing actionable insights to stakeholder.
• The above points lead to greater buy-in into reporting and planning processes.

Incentivized