Prophix One, a Financial Performance Platform, is used to improve the speed and accuracy of decision-making within a harmonized user experience. To reduce complexity and uncertainty, the software offers automated insights and planning, budgeting, forecasting, reporting, and consolidation functionalities.
We liked Prophix's user-friendly appearance. The prices were similar, so for us, it was about the interface or how we perceive how easy it would be to use across the college. We brought together a variety of users from across campus to view a demonstration by Prophix and people …
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.
Microsoft SQL is ubiquitous, while MySQL runs under the hood all over the place. Microsoft SQL is the platform taught in colleges and certification courses and is the one most likely to be used by businesses because it is backed by Microsoft. Its interface is friendly (well, as pleasant as SQL can be) and has been used by so many for so long that resources are freely available if you encounter any issues.
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.
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.
Microsoft SQL Server Enterprise edition has a high cost but is the only edition which supports SQL Always On Availability Groups. It would be nice to include this feature in the Standard version.
Licensing of Microsoft SQL Server is a quite complex matter, it would be good to simplify licensing in the future. For example, per core vs per user CAL licensing, as well as complex licensing scenarios in the Cloud and on Edge locations.
It would be good to include native tools for converting Oracle, DB2, Postgresql and MySQL/MariaDB databases (schema and data) for import into Microsoft SQL Server.
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
We understand that the Microsoft SQL Server will continue to advance, offering the same robust and reliable platform while adding new features that enable us, as a software center, to create a superior product. That provides excellent performance while reducing the hardware requirements and the total cost of ownership of our solution.
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.
SQL Server mostly 'just works' or generates error messages to help you sort out the trouble. You can usually count on the product to get the job done and keep an eye on your potential mistakes. Interaction with other Microsoft products makes operating as a Windows user pretty straight forward. Digging through the multitude of dialogs and wizards can be a pain, but the answer is usually there somewhere.
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.
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.
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!
We managed to handle most of our problems by looking into Microsoft's official documentation that has everything explained and almost every function has an example that illustrates in detail how a particular functionality works. Just like PowerShell has the ability to show you an example of how some cmdlet works, that is the case also here, and in my opinion, it is a very good practice and I like it.
Training is essential for this software to be successful for any company. We unfortunately had a bad implementation and training manager so I can say with confidence that if we had the CSM we have now - we would be light years ahead of our knowledge of the system. I highly suggest taking all training opportunities and not rushing the implementation training
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.
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.
Other than SQL taking quite a bit of time to actually install there are no problems with installation. Even on hardware that has good performance SQL can still take close to an hour to install a typical server with management and reporting services.
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.
[Microsoft] SQL Server has a much better community and professional support and is overall just a more reliable system with Microsoft behind it. I've used MySQL in the past and SQL Server has just become more comfortable for me and is my go to RDBMS.
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
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.
Increased accuracy - We went from multiple users having different versions of an Excel spreadsheet to a single source of truth for our reporting.
Increased Efficiency - We can now generate reports at any time from a single source rather than multiple users spending their time collating data and generating reports.
Improved Security - Enterprise level security on a dedicated server rather than financial files on multiple laptop hard drives.
