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https://dudodiprj2sv7.cloudfront.net/product-logos/qY/53/16BPDT5QHRXO.JPEGProphix 12 ReviewProphix is being used for our financial reporting, planning/forecasting and hopefully on down the road for dashboards, detail sales reporting, etc.The finance department is the main user of prophix, however, line departments are asked to input plan and forecast data for review and consolidation.Prophix allows us to maintain current and historical data that was previously being handled by excel spreadsheets. Monthly consolidation of multiple entities, planning and forecasting are now done more quickly with detail and commentary that can be made part of the record.,Financial reporting and consolidations - flexible! Planning and Forecasting - detail planning for headcount, capex, fixed assets, etc. and department mgrs. can input data. Ad Hoc Analysis - ability to slice and dice data and drill down to transaction level.,prophix needs to have a better interface with Excel for downloading, uploading, and analysis of data. Report writing with smart client has a long learning curve, web client may be better but we are just getting started with web client. Due to its complexity and flexibility Prophix requires dedicated training and use of consultants for implementation.,8,Cost effective solution for mid-sized companies when compared with Oracle/HFM and the like. Time savings has allowed for less number crunching and more analysis of data. Variance analysis has improved due to line item details in the plan or forecast which can be compared to actual results.,We actually set up a new chart of accounts in prophix, which is different from our legacy system due to how bad it was initially set-up. We have automated the mapping and integration of data from our main system and use flat file uploads from Excel templates for consolidated entities. Automating the import of data from our main system required an investment in time and resources on initial implementation. This is not a product you can have your IT team install and set-up! Things are running smoothly now that IT does understand how the staging of data occurs. Flat file uploads from consolidated entities is quick and simple.,We are using on-premise right now but the flexibility will be very important when we begin automating data integration from entities in foreign countries.,9,Oracle Hyperion Enterprise Performance Management and Infor SyteLine,It has taken a couple of budget cycles but we are now starting to benefit from Prophix features when completing an annual plan. Managers can now easily access prior year budget, current year actual and forecast data, etc. along with commentary and line item detail (by vendor) when planning for future periods. The workflow process within Prophix allows us to roll-out, prepare, review and approve our budgets and forecasts in a timely manner.,Our organization uses workflow in the annual planning process. We are also starting to use dashboards that are tailored to the user for pertinent information. We are not currently using automated report distribution but will be in the near future, it is easy to set up report binders that are emailed to recipients manually or automatically.,20,2,Ad Hoc reporting is a powerful tool and easy to experiment with and learn to use with minimal effort. The document explorer is a recognizable and easy to use file management tool for organizing data views and reporting templates. Security manager (administrator use) is easy to use and maintain.,Setting up new Cubes requires complete understanding of all requirements - dimensions cannot be changed once cube is established. Detailed planning manager is used for personnel planning and capex, etc. when you have complex calculations for many items. This is very difficult to learn and set-up without training. Template studio which is used for setting up reports requires a significant investment in time and training to become proficient in its use.,Yes, but I don't use it,7,Infor SyteLine, Microsoft Office 2016,Implemented in-house Third-party professional services,Yes,Change management was a minor issue with the implementation,Managing our expectations and consultant requirements and objectives so that we were on the same page was a challenge. Staying within the implementation budget required pulling a few strings, Prophix was very helpful in this area. User training was not factored into the implementation to the level it should have been.,8Prophix - the good and the otherWe use Prophix for budgeting and reporting budget to actual numbers, as well as some forecasting. It is used mainly by the business office, but dashboards have been created for executives and marketing. It facilitates a more granular approach to budgeting, as well as multiple perspectives on comparative analysis. It also facilitates presenting financials in multiple formats, as required by different reporting entities or foundations.,Provides a plethora of options for analyzing data, either numerically or graphically. Allows the user to get as granular as you like in creating budgets, and in creating mathematical relationships between related gl accounts. Can be applied & used across a wide range of departments. Useful for any type of data analysis whether numerical or other.,It would be nice if it had better integration with Quickbooks. As it currently stands, you have to use a third party program to "translate" the database from QB to SQL for Prophix to import the data. I spend more time than I like validating data, but this has more to do with the limitations and shortcomings of QB than Prophix. The process of updating the software is rather cumbersome and involved.,8,Still evaluating the ROI. It has minimized budget errors due to erroneous formulas which sometimes occur in spreadsheets Enabled the budget creation to be more effectively distributed among department heads, which has created more accountability.,In most cases the data import process is great. Quickbooks uses a database structure that doesn't seem to play well with Prophix, so a third party software package is needed to "translate". This creates added complexity, which in turn creates additional failure points. Once it is setup, in generally runs well.,This flexibility was one of the selling points for Prophix. The ability to host and manage the program on site was essential for us. But, understandably, other organizations might prefer the option of cloud hosting. We prefer that most of our applications be hosted onsite, but realize the trend moving to the cloud.,8,Domo,I haven't used the workflow component very extensively yet, so I haven't tried the commentary function for workflow. The line item detail function we use a fair amount. It is very helpful when additional granularity is desired for a single gl line of the budget. Cell commentary functions much like it does in excel, or any other spreadsheet program.,Automated report distribution has been very helpful for weekly reporting, or for compiling financials for board meetings. Once the templates are created and assembled into virtual binders, the process runs automatically as scheduled. I currently use the workflow feature for end of period closes, and will be implementing it for our upcoming budget cycle.,7,2,Quickbooks Qqube,Audience View ticketing/patron sofware other onsite databases,File import/export,7,Work with implementation team at the outset to create most of the integrations that you think you might want.,9,9,8Prophix in a nutshellProphix is used by all our managers and sales people. It really has helped reduced the time with the budget / sales forecast cycle. No more, putting 100 files together and making sure the links have been updated. It really has saved us a lot of time. We use Prophix to do expense forecasting, revenue forecasting, month-end process. It really has taken over our department.With the latest upgrade, we are using the name sets for the time dimension. This has saved me 8 hours per month. I no longer have to go into 33 templates and update the time frame. The name set has fixed this for me. Thank you Prophix for me giving me the idea!,Lots of online training to get you started Great Help Desk support Lots of webinars to keep updated with all the new additions that they add to Prophix Great feedback website. I can see that the feedback that I give to Prophix actually gets their attention. A couple of my ideas have helped Prophix improved its performance.,A lot of upgrades to new versions. Although, each upgrade gives additional functionality, it is hard to keep up with the latest version. Graphing is not ideal in Prophix. This is supposed to be additional graphing functionality coming out later this year. Speed. I wish template studio was faster to open and the data entry portion. Overseas. My sales people struggle with the speed even more when they are in Europe and Asia.,9,Increased efficiency with regards to doing budgets/revenue forecasts We really have pushed Prophix by multi-purposing the product by doing budget and revenue forecasts. Prophix has a hard time with the number of customers we forecast (for revenue). It is just slow for the user.,7,There is a handful of the managers that do the cell comments and line item details to help them budget. We use the workflow comments to help remind us of changes that we need to do in a process. It helps cuts down going two different places to get the job done.,My favorite thing about Prophix is the workflow. I feel like we are so much more efficient as a team and when we are all working together trying to finish up the month end process. We don't use the automated report distribution, template pre-population or multi-tiered allocations because we send out everything in excel. In excel we add comments and graphs to the files before we send them out.,50,1,Budgets/Forecasting Workflows (never miss a step) Creating reports so you are no longer having to recreate the same report month after month,10,We have integrated Prophix with our home grown BI system.,No,,8,After going through some training, everything seemed very easy. Creating a report was a breeze. We had all our reports created in a few days. And they only needed to be created once verses every month. Workflows.,SmartMonitor. I don't really understand it. And if I even did understand, we would not use it at our company.,10,Citrix ShareFile, IFS Applications,7,7,Yes,Yes,9,No,Price Product Features,Yes,No,10Prophix - good fit for small/medium sized fast growing companiesProphix is being used by our entire organization for P&L budgeting, personnel planning, monthly budget to actual analysis and financial statement reporting/consolidation. We are a small company but have some complexities due to our model of growth by acquisition. In addition, we have an unusually large number of cost centers and Prophix is a great tool for helping us manage our reporting hierarchy.,Personnel planning and budgeting - enables more accurate personnel budgeting by using rates and rules to drive out detailed benefit costs. Managing hierarchies such as accounts, cost centers and companies easily and in one spot. Ad Hoc Reporting - slice and dice data by accounts, cost centers, companies, etc., with the easy to use ad hoc tool.,Would like an easier way for a budget manager to budget to a new account. Would like a way to set up rounding factors when entering/loading budgets. Would like the building of report templates to be easier.,10,Improved accuracy of budgeting & forecasting is a major positive result from implementing Prophix. Improved efficiency of finance/accounting personnel is another positive result from implementing Prophix. Prophix is very intuitive and most people in the organization can be trained in a reasonable time on its usage.,We are currently importing data from both Oracle and SelectLine ERP systems. Everything is working well!,We are using Prophix from a hosted in-house server currently.,10,,We use cell commentary to record the logic behind certain budget assumptions,We have automated our global consolidation process allowing us to report global results on a monthly basis (used to be quarterly).,30,3,Oracle Financials Select Line,None at this time,File import/export ETL tools,10,Map out integration plan in detail,Reports Hierarchies Adhoc,Adding new accounts to budget worksheets,Yes, but I don't use it,10,Oracle Financials,10,10,10,10,8,We negotiated the hourly consultant rate with the vendor,Getting a consultant that totally understands the software and is an effective communicator is critical to the project success.,No,Yes,n/a,Online training Self-taught,8,The product is easy to pickup on your own with a bit of training.,No,N/A,N/A,No,No,No,Price Product Features Product Usability Product Reputation Prior Experience with the Product Vendor Reputation,Would not change the evaluation process,Third-party professional services,Yes,Change management was a small part of the implementation and was well-handled,User Adaptation,10,10,Utilize a top notch third party consultant,No - we have not done any customization to the interface,Some - we have added small pieces of custom code,NoneProphix ReviewProphix is used across the whole organization for budgeting and financial reporting purposes. We first built out Prophix as a financial reporting tool. All financial statements are in Prophix and individual users can access monthly statements and view detail. Users also use Prophix to enter budget information as well as payroll forecasting.,Headcount and payroll forecasting is a bright spot for Prophix. Definitely beats managing payroll budgets in Excel. The use of Workflow Manager for the annual budget helps move the process along smoothly. The ability to develop and run ad hoc reports on the fly.,Continue to drive Template Studio more in the direction of Excel, continue to build out Excel-like functionality. I still use Prophix 11, I always want to highlight a row of numbers and have it sum in my report like Excel, but it doesn't. DPM should have more standard calculations without requiring the use of a consultant to build out calculations that are pretty standard and shared among most companies (FICA, FUTA, 401K Match...etc.) The ability to drill to detail in calculated fields. I have some custom time perspectives that I can never drill to the detail.,9,Much better insight by management into the transaction level detail of their expenses. The ability to have the user grab the info on their own, as opposed to requesting the data from accounting, has helped everyone save time. Budgeting process is much smoother and far more accurate. Prophix is much easier to use and to modify than previous financial reporting software. Allows for quicker edits and month end close when changes need to be made.,SQL data import is smooth and easy. Flat file imports can be a bit clunky. It would be nice to have a bit more functionality with mapping tables. I usually map things out in excel and just copy and paste.,We currently have on-premise set up, I could see the benefits of cloud based deployment. We will be looking into upgrading to Prophix 12 after 2018 budget is complete and after year end audit.,9,
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Prophix
116 Ratings
Score 8.8 out of 101
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Prophix Reviews

Prophix
116 Ratings
Score 8.8 out of 101
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William Van Hulzen profile photo
July 25, 2018

"Prophix 12 Review"

Score 8 out of 10
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Prophix is being used for our financial reporting, planning/forecasting and hopefully on down the road for dashboards, detail sales reporting, etc.

The finance department is the main user of prophix, however, line departments are asked to input plan and forecast data for review and consolidation.

Prophix allows us to maintain current and historical data that was previously being handled by excel spreadsheets. Monthly consolidation of multiple entities, planning and forecasting are now done more quickly with detail and commentary that can be made part of the record.

  • Financial reporting and consolidations - flexible!
  • Planning and Forecasting - detail planning for headcount, capex, fixed assets, etc. and department mgrs. can input data.
  • Ad Hoc Analysis - ability to slice and dice data and drill down to transaction level.
  • prophix needs to have a better interface with Excel for downloading, uploading, and analysis of data.
  • Report writing with smart client has a long learning curve, web client may be better but we are just getting started with web client.
  • Due to its complexity and flexibility Prophix requires dedicated training and use of consultants for implementation.
I can speak for a mid-sized company, once prophix is implemented and users are trained (requires consultants and dedicated effort by users) it can be a very useful tool to eliminate the use of excel spreadsheets and standardize reporting, planning and forecasting. It is flexible enough for "super" users to take it into areas of analysis and reporting that may not be possible for many such products, such as human resources, capex, fixed assets, commissions, accrual analysis, etc.
Read William Van Hulzen's full review
Kevin Warnick profile photo
August 20, 2018

User Review: "Prophix - the good and the other"

Score 8 out of 10
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We use Prophix for budgeting and reporting budget to actual numbers, as well as some forecasting. It is used mainly by the business office, but dashboards have been created for executives and marketing. It facilitates a more granular approach to budgeting, as well as multiple perspectives on comparative analysis. It also facilitates presenting financials in multiple formats, as required by different reporting entities or foundations.
  • Provides a plethora of options for analyzing data, either numerically or graphically.
  • Allows the user to get as granular as you like in creating budgets, and in creating mathematical relationships between related gl accounts.
  • Can be applied & used across a wide range of departments. Useful for any type of data analysis whether numerical or other.
  • It would be nice if it had better integration with Quickbooks. As it currently stands, you have to use a third party program to "translate" the database from QB to SQL for Prophix to import the data. I spend more time than I like validating data, but this has more to do with the limitations and shortcomings of QB than Prophix.
  • The process of updating the software is rather cumbersome and involved.
If your budgeting process is mired in pages and pages of spreadsheets, or if you need to present the budget in multiple formats, Prophix would be a good fit. It is helpful if your accounting software uses a typical database structure such as (or similar to) SQL or MySQL that can be directly tied into Prophix.
Read Kevin Warnick's full review
Angela Barta profile photo
July 18, 2018

User Review: "Prophix in a nutshell"

Score 9 out of 10
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Prophix is used by all our managers and sales people. It really has helped reduced the time with the budget / sales forecast cycle. No more, putting 100 files together and making sure the links have been updated. It really has saved us a lot of time. We use Prophix to do expense forecasting, revenue forecasting, month-end process. It really has taken over our department.

With the latest upgrade, we are using the name sets for the time dimension. This has saved me 8 hours per month. I no longer have to go into 33 templates and update the time frame. The name set has fixed this for me. Thank you Prophix for me giving me the idea!

  • Lots of online training to get you started
  • Great Help Desk support
  • Lots of webinars to keep updated with all the new additions that they add to Prophix
  • Great feedback website. I can see that the feedback that I give to Prophix actually gets their attention. A couple of my ideas have helped Prophix improved its performance.
  • A lot of upgrades to new versions. Although, each upgrade gives additional functionality, it is hard to keep up with the latest version.
  • Graphing is not ideal in Prophix. This is supposed to be additional graphing functionality coming out later this year.
  • Speed. I wish template studio was faster to open and the data entry portion.
  • Overseas. My sales people struggle with the speed even more when they are in Europe and Asia.
I really like Prophix. It has made my job so much more easier. The workflows to make sure everything gets done, will make training a breeze. And will help prevent missed steps. One of the big sellers of Prophix is that we did not need IT's support. The only time we need IT is when we do an upgrade and if we need new or additional information from our IFS to Prophix.
Read Angela Barta's full review
Rob Strothkamp profile photo
July 17, 2018

Review: "Prophix - good fit for small/medium sized fast growing companies"

Score 10 out of 10
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Prophix is being used by our entire organization for P&L budgeting, personnel planning, monthly budget to actual analysis and financial statement reporting/consolidation. We are a small company but have some complexities due to our model of growth by acquisition. In addition, we have an unusually large number of cost centers and Prophix is a great tool for helping us manage our reporting hierarchy.
  • Personnel planning and budgeting - enables more accurate personnel budgeting by using rates and rules to drive out detailed benefit costs.
  • Managing hierarchies such as accounts, cost centers and companies easily and in one spot.
  • Ad Hoc Reporting - slice and dice data by accounts, cost centers, companies, etc., with the easy to use ad hoc tool.
  • Would like an easier way for a budget manager to budget to a new account.
  • Would like a way to set up rounding factors when entering/loading budgets.
  • Would like the building of report templates to be easier.
Prophix is best suited for companies that are rapidly growing and require applications that are used by a variety of financial and operational users for planning and reporting purposes. In addition, the costs to support are dramatically less than Hyperion and similar applications. Consulting is available remotely and at a reasonable cost.
Read Rob Strothkamp's full review
Michael Porter profile photo
July 17, 2018

"Prophix Review"

Score 9 out of 10
Vetted Review
Verified User
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Prophix is used across the whole organization for budgeting and financial reporting purposes. We first built out Prophix as a financial reporting tool. All financial statements are in Prophix and individual users can access monthly statements and view detail. Users also use Prophix to enter budget information as well as payroll forecasting.
  • Headcount and payroll forecasting is a bright spot for Prophix. Definitely beats managing payroll budgets in Excel.
  • The use of Workflow Manager for the annual budget helps move the process along smoothly.
  • The ability to develop and run ad hoc reports on the fly.
  • Continue to drive Template Studio more in the direction of Excel, continue to build out Excel-like functionality. I still use Prophix 11, I always want to highlight a row of numbers and have it sum in my report like Excel, but it doesn't.
  • DPM should have more standard calculations without requiring the use of a consultant to build out calculations that are pretty standard and shared among most companies (FICA, FUTA, 401K Match...etc.)
  • The ability to drill to detail in calculated fields. I have some custom time perspectives that I can never drill to the detail.
Well suited for Budgeting/Reporting. Still find many "Light" users prefer to have statements emailed since they rarely log in, or just don't want to learn to use a new application.
Read Michael Porter's full review
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October 16, 2018

User Review: "Prophix, Make your job easier."

Score 10 out of 10
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Verified User
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Currently, the finance department is the main user of Prophix but we disseminate the reports to other department. We eventually hope to launch to all departments.

We have multiple systems that need to be consolidated in our reporting. Prophix allows us to make a single report from these diverse sources so that we present a uniform appearance and see the total numbers for the whole company rather than bits and pieces that don't take the whole into account.
  • We have four sources of data. Prophix allows us to consolidate our data and create reports that present a uniform appearance.
  • Prophix makes it easy to import data and automates the process so that once set up you can let it run on schedule.
  • You can create new reports using the same data. This ensures that you have uniform numbers in all reports (that can be tough with spreadsheets).
  • Training and help resources are fabulous. Customer support is important to Prophix and they work very hard at it. They want you to learn to the level you want to learn. They guide you to be independent of them with your in house development (although if you prefer to pay them to set everything up they'll do that too).
  • I can't think of room for improvement. They seem to come out with upgrades before I've really thought of needing that function.
If you have multiple sources of data, Prophix will be a good fit. We are able to integrate our payroll data with our GL data to get department and task reporting. We are able to join our two ERPs' GL information to get expense and sales reporting. We are also able to import Excel data.

Your budget process can be set up in a workflow allowing for easy updating and tracking. Let's face it, our managers aren't always getting their budgets done on time. With Prophix, you can set up the workflow and track their progress. You can set up the review process and have each level of review receive and approve the budget. All of this is automatic and saves you time. Sorry, you'll still have to do a little babysitting since some people are a little slow to submit their budgets but Prophix makes it a little easier.

There are some planning tools that I want to look into as we complete our other projects.

I feel that Prophix continues to develop new ways to use their product. I love the workflow capability. Report dissemination is very automatic also. Your more savvy users can also dive a little deeper into the data and create their own views.

I think that if you are a small company that has a single source of data then you likely can't justify using a tool like this. Larger companies, even with a single source will be able to automate communication and budgeting so the expense may be worthwhile.
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July 17, 2018

Prophix Review: "Great Budgeting Tool"

Score 9 out of 10
Vetted Review
Verified User
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Prophix is utilized mainly for budgeting purposes across the whole organization. Each department level has responsibility for their own budget, prepared within Prophix. The general accounting department uses Prophix to consolidate all department budgets to create reports for upper management.
  • Ad-hoc analysis is a strength for Prophix. The ability to slice and dice information is a huge benefit.
  • The ability to enter line item details or attach spreadsheets through cell comments is helpful to department budget preparers and those analyzing budgets.
  • Having the ability to automatically schedule or run manually the process manager to pull in actual data from the accounting tables is another strength of Prophix.
  • Ability to choose select members from a dimension when using InfoFlex. For example, I would like to copy over line item details from a prior year budget for select departments rather than all.
  • Ability to copy over descriptions only, no dollar amounts, with InfoFlex.
  • In Line Item Details, keep the time range static when switching between accounts.
Prophix has worked well for us from a budgeting perspective. It's been easy for budget preparers to use and has given analysts the information needed to prepare solid reports. Administering Prophix has a learning curve. We have increased our knowledge of the system and utilized additional functionality over the past 5 years. We had planned to use Prophix for financial statement reporting, however, have not had the resources to get this set up in the system. We also use the personnel detailed planning manager and are in the process of implementing the capital expenditures module. These are also an area that works well within Prophix.
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July 17, 2018

User Review: "Prophix- Budgeting Easy Button"

Score 9 out of 10
Vetted Review
Verified User
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As a company Prophix has been well received for budgeting and monthly reports. Our users use the drill across feature when reviewing their monthly reports and this allows them to answer many of their questions themselves. We currently are implementing a long term financial forecast in Prophix that will allow for several what if analyses. We use detailed planning manger for loans and interest. We also have other cubes for specific areas that are integrated with our main finance cube.
  • Prophix allows managers to review in detail their department expenses.
  • Managers can write comments and line item details during budgeting that allows for detailed descriptions.
  • Detailed Planning Manager is awesome.
  • Prophix customer service is some of the best I have experienced.
  • Slow performance with complicated formulas and lots of data.
  • Sometimes does not save to cube but does not let the user know and why.
  • Difficult sometimes to debug templates and processes
  • Wish you could set up default page members for templates.
  • Would like to see ability to use template calculation process for templates with annual time periods.
Prophix is well suiting for budgeting and reporting. It takes a lot of work to set up but once it is-- it runs seamlessly. Wish it was easier to roll over budget /forecast data and that consultants had that same answers. On more than one occasion have received conflicting information from 3rd party consultants and different consultants within Prophix.
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Joel P. Goldstein profile photo
December 07, 2017

"Prophix is the best corporate performance management tool for Crystal & Company"

Score 8 out of 10
Vetted Review
Verified User
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We use Prophix as our primary financial reporting tool. This includes all aspects of the financial reporting and management; budgeting, forecasting and performance management. In addition, we rely on Prophix as a substitiution tool for general ledger journal entries to allocate revenues and expenses throughout our oragizational divisional and departmental structure.
  • Prophix software is a unified solution for our financial reporting needs. It is relatively easy solution to implement, cost effective and requires little upkeep maintenance.
  • Prophix has an excellent detailed planning management tool that allows us to easily account for our personnel budget and forecasting needs, fixed assets, and other balance sheet items.
  • Prophix has a line item detail feature that enables us to analyze down to the lowest detail level for our ease of financial and account reporting.
  • We are able to easily create multiple templates for financial reporting and answer the needs for our many individual business units.
  • Excellent tool to manage the workflow for the budget process.
  • Prophix has done an excellent job of continuous improvement of their product. They have addressed almost all of our concerns and issues over the 6+ years we have been on the product. Prophix can still improve performance when using large sets of data dimensions and multiple shared dimensions.
  • Enhancement to system to manage the complete accounting close workflow process.
Prophix is excellent at addressing our need surrounding corporate performance, but we do not rely on it for our busiess intelligence needs.
Read Joel P. Goldstein's full review
Andreas Loeffler profile photo
August 17, 2017

Review: "Prophix Delivers More Value / Less Hype"

Score 10 out of 10
Vetted Review
Verified User
Review Source

Currently being used in Finance and Sales areas. Used in both areas to develop forecast and report plan to actual results.

Automatically (or semi-automatically) loads and distributes sales reports on a daily basis. Generates in-month sales forecast to inform management of plan achievement and prior year comparisons.

Creates alternate financial reports for bank financing proposals and ongoing board, management, and bank reporting.

  • Regular automated reporting - Easy to set up and schedule the processes needed to load, combine, and calculate data for reports, and then distribute the reports according to flexible schedules
  • Easy to set up the data uploads from various sources, then automate the uploads - Prophix can read .txt, .csv, and Excel formats, set up mapping to correct or consolidate overly detailed (or wrong) source data. (Most systems do this; Prophix is just much easier than most others.)
  • Clean interface to manage data models - Again, all CPM systems do this, but the Model Manager in Prophix makes this easy. If it is easy, then it is more likely we will make real-time changes in the structures to keep up with the business changes, making our reporting more relevant and timely.
  • Generation of Excel based planning and reporting templates. Everyone still like to work in Excel, and this is just real easy in Prophix.
  • Scenario management is awkward in that related scenarios need to be at the same levels.
  • Calculated scenarios need to be exported and imported since they really do not exist within the data.
  • In the early versions of their latest 12 release, the charts are limited. (This is being enhanced with the current release which we do not yet have.)
  • When restoring a damaged data model, all changes to reports or templates since the last backup is lost. You can export prior to the restore, then import after the restore, but this is awkward and often hard to manage of there are lots of impacted reports.
  • Very limited direct Excel data access via Excel plugin.

Most of these comments deal with the limitations of OLAP (Prophix) databases as compared to SQL (Oracle/SAP) databases. OLAP does a great job in driving management to prioritize those metrics and data they need to run and measure their business. This education leads to a much better understanding of the data being provided. A transaction level database is better suited to detailed analysis, but management (in my experience) does a poor job at trying to manage individual transactions instead of understanding what the aggregated numbers are saying. Also, management can not plan at a highly detailed level because the business is moving too fast. That is where Prophix (OLAP) allows management to create a plan at the right level of detail which can be reported and managed.

More well suited:

  • Multiple scenario reporting
  • Excel template generation
  • Finance ownership and management - takes some training but well worth the flexibility
  • Finance, Sales, Operations

Less well suited:

  • Highly detailed reporting outside of Detailed Planning Manager
  • Direct Excel - SSAS data retrieval
  • HR employee management
  • Transaction level detail analysis

Read Andreas Loeffler's full review
Jillian Walsh profile photo
August 31, 2017

"Prophix Review from a new Budget Manager"

Score 8 out of 10
Vetted Review
Verified User
Review Source
We use Prophix across the entire organization to create our yearly operating budget; we use Prophix to update that budget with forecasted expectations of where our actuals will land at the end of the fiscal year.
  • Engage with their customers and take user feedback into consideration
  • Present a more meaningful visualization of budget detail that can't be recreated in Excel
  • Manages workflows in an organization
  • Comments need to be integrated into the reporting
  • Fewer separate windows for line item details
  • A way to compare budgeted vs. actually spend throughout the year
Well suited for yearly budget planning and forecasting; not great at showing budgeted vs. spent.
Read Jillian Walsh's full review
Paul Vickers profile photo
August 22, 2017

Prophix: "Flexible solution to financial reporting, budgeting, and corporate performance management."

Score 10 out of 10
Vetted Review
Verified User
Review Source
Prophix is used across the whole organization for financial reporting, budgeting, cash flows, detailed revenue analysis, and compensation management. We integrate Prophix with our financial GL system (Sage 300) and with our organization's CRM/ERP system.
  • Listens to customers. They are continuously building onto the product based on what customers are saying (such as User Conference, CAB, and Feedback forum).
  • The solution adapts to the organization, not the organization having the adapt to the software.
  • Excellent customer service department. When problems happen (rarely) or I need to consult with someone at Prophix, their response time is quick, and with the answer I need.
  • Senior Management Team are visible. They don't hide behind the curtain. I can call up any VP to discuss any issue.
  • The product works!
  • Overall, the product is excellent. Where they are currently working on is their web-based solution. What they have done so far is great, but can't wait to see more modules rolled out.

Its core scenario is with financial reporting and budgeting. If you're doing many what-if scenarios or your Excel worksheet goes beyond a half dozen worksheets, then you need Prophix. If you're drowning in Excel, you must give Prophix a good look.

After your top-level financial and budgeting is running efficiently under Prophix, you can then move onto more detailed corporate performance analysis. For us, we did deep dives with Prophix on cashflow, revenue, and compensation.

Take a look at some of their customer videos and white papers. I've talked with several of these companies - they are real. What you can do with Prophix is endless.

Read Paul Vickers's full review
Kendra Graves profile photo
August 21, 2017

User Review: "Prophix in Utilities"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Prophix is being used across the organization for budgeting, forecasting and planning. It has allowed for a much more efficient budgeting process. It also allows for easy tracking of actual/estimated cost and revenue.
  • Reporting can be as detailed or as high level as desired
  • Flexibility in analyzing data, setting up reports and setting up models
  • Integrate different models and easily transfer data between models
  • Flexibility of data entry and calculations
  • Ability to drill across to easily access General ledger data
  • Error messages are fairly useful, but some improvement would be nice to indicate when data is not written back to the database and why
Prophix is well suited for budgeting and for tracking data compared to budget as actual data rolls in.
Read Kendra Graves's full review
Neal Bayless profile photo
August 18, 2017

User Review: "Prophix - Great budgeting tool"

Score 8 out of 10
Vetted Review
Verified User
Review Source
Prophix is being used in our organization mainly for budgeting, but also for monthly managerial ad-hoc reports. It is used mainly by finance, but also by HR during budget season for data input. It addresses many of our budget issues.
  • In the analytics aspect, the ad-hoc analysis allows us to drill down and really allows for specific general ledger budgeting.
  • The template designer/template studio is very helpful when doing monthly reports.
  • It takes a really long time to switch versions within the ad-hoc analysis, the time it takes is extremely annoying. Sometimes it can be 10-15 minutes to open different parts, depending on how large the version is.
  • The "help" tab is not the most user-friendly when trying to learn the different commands.
It's the best option we have used for budgeting; you just have to get used to how long it takes to open different areas of the data.
Read Neal Bayless's full review
Eron Lange, CMA, CPA, CFM profile photo
August 18, 2017

User Review: "New users on Prophix, very pleased"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Prophix is currently being used within the finance group only. It is used to consolidate data from multiple systems to present various operation reports to the organization. Currently, financial, production volume, employee data (hours and headcount) are all being captured and reported on ranging from weekly to monthly.
  • The ability to quickly change the layout of the data in either Ad-hoc view or Template view is extremely powerful. As easy to use a pivot tables, easier management of the data.
  • The ability to use MDX for formula creation in dimension setup works very well for us as some of the KPIs we report on can be complex.
  • The navigation throughout the system is intuitive and makes learning the system easier. This is great because new users can get up to speed quickly.
  • The report design within Template Studio in the Smart Client is very cumbersome. It has an Excel-like feel however it is not quite as smooth as Excel, especially border management.
  • Report distribution is only available to licensed users, would be nice to be able to enter any email address as most of the viewers of the report are looking at a static Excel file or pdf report and do not need Prophix access
  • Multiple reports require individual distribution or they get merged into one Excel file. This is fine if the report only has a couple of pages, but a monthly report (of which there are 2) with 31 pages becomes a very cumbersome Excel file.
Any type of financial or database driven reporting is extremely easy and powerful in Prophix. We pull a great deal of both financial and non-financial data into the system fairly easily.

We are still relatively new and have a long list of reports and projects we plan to do in Propix so I cannot comment on what cannot be done as we just have not gotten there yet.
Read Eron Lange, CMA, CPA, CFM's full review
Michael Littman profile photo
August 15, 2017

Review: "Why we are confident in Prophix and will expand our use of Prophix"

Score 10 out of 10
Vetted Review
Verified User
Review Source
We are currently using Prophix at the department level but will be migrating to an enterprise level by the end of the year. The current use of Prophix is for the calculation of a detailed cash flow forecast monthly. This is based on data from our accounting system combined with data from sales forecast that resides in our CRM system. In addition we have two new implementations of Prophix currently going on. The first is for budgeting and will budget with Prophix this year. The second is for the calculation a P&L at a closed project level.
  • Prophix is very flexible and easy to use. To do the cash flow projections, we needed to combine templates, with actual cost information and projected sales. The actual cost information is taking accrual information and converting it into cash. Projected sales are based on our order to cash cycle. All this comes together into an easy to review report. Best of all most of it is automated!
  • Prophix is also very good for power users to catch on to and learn very quickly. My Financial Analyst has started to take my reports and convert them into automated reports freeing up my time to focus on more pressing business issues.
  • I think Prophix could improve on auto formatting with recommendation of preprogramed in. For example, all budget numbers are converting into currency instead of raw numbers.
  • In reporting I think they can improve on the graphing presentation. There are a lot on premise software programs with cutting edge graphing capabilities. Prophix looks just like a spreadsheet. Nothing is wrong with this but more capability would be welcomed!
Prophix is fantastic for:
  • Budgeting with multiple departments and determining how the information will be calculated. You can do manual input, or base it off of trailing twelve-month historical information.
  • Pulling in data from different sources. For example accounting system, CRM system, EMS, time keeping, and project management.
Prophix doesn’t seem appropriate for:
  • Data analysis of non-structured data. To use data you need to have very structured data for their data cube.
Read Michael Littman's full review
John Stubbs profile photo
August 14, 2017

Prophix Review: "Phophix makes budgeting easies for all."

Score 10 out of 10
Vetted Review
Verified User
Review Source
We used Prophix from the beginning with our budgeting for 2 casinos and 18 other business. This was our third year with this product. It is used across all our business for budgeting. We are using the ad-hoc analysis feature for designing reports and one-time analysis. Our GL is loaded on a nightly basis. This upcoming year [we are] planning on training other people outside our department on the ad-hoc analysis to make it easier for them to get information quickly and independently. We are updating the product to be web based for our end users.
  • Make it easier to make quick analysis with information from our GL package which is load daily.
  • Having 4 years of history within the program makes comparison easier and much quicker.
  • Changing the budget over a 4 month budgeting process is far better than before. Many different versions.
  • The biggest positive is the flexibility to make changes.
  • Running updates to move information into your overall financial statements. Take time and end user complain about it.
  • Seeing the whole budget at one time for our end users without running process in the background. Example: moving information from personnel cube to our financial cube or from our revenues cubes having over 30 of this to financial budget statements
  • Printing of the budgets exporting to Excel or a PDF for better results instead within Prophix.
  • Designing a way to have comment and assumptions or the budgets in a easy to use and printable form. Currently done in Word.
  • Making template studio even more like Excel Designing takes more time and not as flexible.
Making budgeting better for end users. Changing numbers or modifying information is mostly done by the end user. The end user can take the time to think what should be in the budget instead of worrying how to get the numbers in. Ad Hoc is something we use all the time to get information out to the managers requesting it. Again the flexibility is the greatest strength of this product.
Read John Stubbs's full review
Rob Mulrooney profile photo
August 14, 2017

Review: "Prophix is a very user-friendly tool that your business will find invaluable."

Score 9 out of 10
Vetted Review
Verified User
Review Source
It is used across the entire organization. It is used for both financial reporting and operational reporting. It feeds our metrics software. It is used for doing annual budgets and quarterly forecasts.
  • Producing monthly financial reports, i.e. expense reports.
  • Software used for company's budgeting process.
  • Storing and reporting operational data.
  • Metrics and dash boarding.
  • Automation, e.g. it does not publish to SharePoint in the Cloud.
Well suited for standardized reporting, both financial and operational. Well suited for annual budgets and regular forecasts. Good for financial analysis. Good as a data warehouse.
Read Rob Mulrooney's full review
Kate Fallon profile photo
August 14, 2017

Prophix: "Review"

Score 8 out of 10
Vetted Review
Verified User
Review Source
[It's] Used within the finance department to generate financial reports and operational metrics that are distributed to management throughout the organization.
  • Financial Reporting - reports are easy to set up, and can easily can also create very complex report involving report-based calculations or multiple dimensions. Reports are very consistent and reliable.
  • One-off reporting or analyses are easily supported using the Ad-Hoc tool. Easy to manipulate data across the various dimensions to get to the slice of data that best illustrates the business question.
  • Process Manager allows user to streamline actions and processed required for data loading/maintenance/report generation.
  • Ability to use Excel as the front end to an ad-hoc query would be helpful so that the query would be saved in excel and user could link to cells to provide dimensional inputs.
  • Ability to have alternative hierarchies in all dimensions.
Prophix does straight forward financial reporting of actual results very well. Complex forecast models are slow and difficult to maintain.
Read Kate Fallon's full review
Danny Jordan profile photo
August 11, 2017

Prophix: "ROI - Rate of Irritation?"

Score 9 out of 10
Vetted Review
Verified User
Review Source
In the past we have used Prophix for end of month and budget reporting. Currently, I am not using it because of industry-related staff reductions. Finance has been the sole user of Prophix.
  • The various dimensions allow you to "slice and dice" your data with great efficiency.
  • The modeling functions are very helpful, whether planning for personnel or CAPEX.
  • The Ad hoc reporting has been especially useful for quick reports.
  • Part of the reason I am not currently using Prophix is the process to import the data from my ERP.
  • Mastering the functionality of the software takes time.
  • For me, I need to be in Prophix almost daily to build proficiency.
Prophix shines with its Personnel Planning Model. Once setup, the manipulation of parameters are excellent for evaluating the cost of personnel in unlimited scenarios. The budgeting and forecasting are particularly helpful.
Read Danny Jordan's full review
Michelle Erickson profile photo
August 11, 2017

Review: "Prophix is a tool the puts the power for change and enhancement in the users hands."

Score 10 out of 10
Vetted Review
Verified User
Review Source
We are currently using it for budgeting, sales forecasting, sales reporting and analysis, freight tracking, and budgeting. It helps us to create all of our financial reporting pieces quickly and efficiently. We also budget down to the level of employee benefits. In addition we can provide our sales team with real time sales data analytics. We are looking forward to using it in additional dashboard KPI's and production efficiency and mix analysis.
  • Financial reporting and consolidating information from various sources to one reporting piece
  • Easy on boarding and enhancements for new uses. Including training new employees on the system and allowing them to create their own reports.
  • Analytics on profitability.
  • Graphing capabilities and visiual affects
  • Additional tool development and training to help us think beyond what we are doing now.
  • Base dashboards set-ups.
  • schedule creating for budgeting.
Having all the information in once place and easily able to change your views to see the data in a different structure. Ability to add unique calculations and scenarios to your budgeting process. Allocations and finding errors when processed dropped.
Read Michelle Erickson's full review
Scott Akam profile photo
August 11, 2017

"Prophix review"

Score 8 out of 10
Vetted Review
Verified User
Review Source
Used by accounting and FP&A teams for budgeting, forecasting and financial reporting. We feed information in from our accounting system and other systems for analysis in various Prophix cubes.
  • Data loading
  • Adhoc reporting
  • offline templates
  • Needs compliance reporting for SOX audits. We had to build this ourselves.
  • Report and offline template performance is slow.
  • Can only run one process at a time. Even on different cubes.
Prophix does a good job with budgeting, forecasting and consolidated reporting.
Read Scott Akam's full review
David Shield profile photo
August 10, 2017

"Prophix Review"

Score 10 out of 10
Vetted Review
Verified User
Review Source
We use prophix for all of our financial reporting. We have several databases including financial and sales. Our financial statements, as well as detailed sales reporting, come out of the system. We also use it to compile our annual budgeting.
  • Easy ad hoc reporting/look up info
  • Quick and easy report generation
  • Easy to slice and dice data
  • Formulas in the template studio
  • Export dashboards in PDF
Prophix is great for all types of financial reporting and budgeting.
Read David Shield's full review
Joel DeGroat profile photo
August 10, 2017

Review: "Prophix tackles the Quickbooks Reporting issues"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Prophix is being used as a reporting tool, we use it to pull data from QuickBooks into the financial tools that allow us to budget and compare actuals as well as forecast. We are currently growing our experience to include more users and expanding from QuickBooks to other financial software. Prophix will allow us to this seamlessly.
  • Financial Reporting
  • Budgeting
  • Forecasting
  • What-if sceanrios
Prophix works well by pulling data from any source including QuickBooks and is capable of combining and re-sorting the data into very useful reports; the reports are user adaptable as the business changes.
Read Joel DeGroat's full review
David Whiteman, CPA profile photo
August 10, 2017

User Review: "Prophix Rocks!"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Prophix is being used for financial planning and reporting. It is owned by the finance department but is used by the whole organization. It addresses the planning and reporting for the company...it is the one source of the truth.
  • It performs complex allocations very well
  • It manages workflow planning very well when trying to complete budgets
  • It is extremely flexible and scalable to our business
  • It is an extremely stable software
  • More graphical or charting capabilities
  • Better ways to manage alternative hierarchies within the dimensions
  • Better Excel interaction
It is well suited for trial balance type planning as well as detailed planning (employee level). It has difficulty mixing hierarchy structure; have had difficulty with alternative hierarchies in the past.
Read David Whiteman, CPA's full review

Feature Scorecard Summary

Long-term financial planning (44)
7.6
Financial budgeting (56)
8.4
Forecasting (52)
7.8
Scenario modeling (44)
7.4
Management reporting (58)
8.1
Financial data consolidation (39)
8.2
Journal entries and reports (19)
7.5
Multi-currency management (17)
8.1
Intercompany Eliminations (18)
8.3
Minority Ownership (6)
8.4
Local and consolidated reporting (25)
8.3
Detailed Audit Trails (20)
7.4
Financial Statement Reporting (47)
8.4
Management Reporting (55)
8.2
Excel-based Reporting (48)
7.8
Automated board and financial reporting (39)
7.7
XBRL support for regulatory filing (2)
6.7
Personalized dashboards (34)
7.3
Color-coded scorecards (28)
7.3
KPIs (28)
7.6
Cost and profitability analysis (31)
7.5
Key Performance Indicator setting (25)
7.6
Benchmarking with external data (13)
8.0
Flat file integration (35)
8.4
Excel data integration (43)
8.2
Direct links to 3rd-party data sources (33)
7.9

About Prophix

Prophix’s innovative Corporate Performance Management (CPM) software promises to help you achieve your goals more successfully.

Key capabilities and benefits include:

  • Improve profitability and minimize risk when you automate repetitive tasks and focus on what matters.
  • Budget, plan, consolidate and report automatically.

Whether in the cloud or on-premise, Prophix promises to support your future with a platform that flexes to suit your strategic realities, today and tomorrow. For more information, visit www.prophix.com.

Prophix Features

Budgeting, Planning, and Forecasting Features
Has featureLong-term financial planning
Has featureFinancial budgeting
Has featureForecasting
Has featureScenario modeling
Has featureManagement reporting
Consolidation and Close Features
Has featureFinancial data consolidation
Has featureJournal entries and reports
Has featureMulti-currency management
Has featureIntercompany Eliminations
Has featureMinority Ownership
Has featureLocal and consolidated reporting
Has featureDetailed Audit Trails
FInancial Reporting and Compliance Features
Has featureFinancial Statement Reporting
Has featureManagement Reporting
Has featureExcel-based Reporting
Has featureAutomated board and financial reporting
Does not have featureXBRL support for regulatory filing
Analytics Features
Has featurePersonalized dashboards
Has featureColor-coded scorecards
Has featureKPIs
Has featureCost and profitability analysis
Has featureKey Performance Indicator setting
Has featureBenchmarking with external data
Integration Features
Has featureFlat file integration
Has featureExcel data integration
Has featureDirect links to 3rd-party data sources
Additional Features
Has featureProfitability Analysis
Has featurePersonnel Planning
Has featureRevenue Planning
Has featureCash Flow Planning
Has featureIntegrated Financial Planning
Has featureCapEx Planning
Has featureReporting
Has featureCloud

Prophix Screenshots

Prophix Videos (4)

Prophix Integrations

Direct links to 3rd-party data sources, Any ERP including Microsoft Dynamics, Sage, Epicor, Maccola

Prophix Competitors

Pricing

Does not have featureFree Trial Available?No
Does not have featureFree or Freemium Version Available?No
Has featurePremium Consulting/Integration Services Available?Yes
Entry-level set up fee?Optional

Prophix Customer Size Distribution

Consumers
0%
Small Businesses (1-50 employees)
0%
Mid-Size Companies (51-500 employees)
25%
Enterprises (> 500 employees)
75%

Prophix Support Options

 Paid Version
Phone
Live Chat
Email
Forum/Community
FAQ/Knowledgebase
Social Media
Video Tutorials / Webinar

Prophix Technical Details

Deployment Types:On-premise, SaaS
Operating Systems: Windows, Mac
Mobile Application:Mobile Web
Supported Countries:Denmark, United Kingdom, Germany, Brazil